WINTER 2018
experience better
SALTER POINT In this issue Market Facts | Finance Update | What’s Sold What’s Selling | Words of Wisdom
MARKET UPDATE
WELCOME After the traditional strong first quarter in 2018, most real estate commentators believed we were moving into the recovery stage in Perth. Interest rates were likely to be stable throughout 2018. Population in WA is 2.58M and planned to rise by 0.7% and buyer sentiment was out of the negative zone and now neutral. What we saw in the last quarter was uninspiring. Numbers through our home opens averaged 2 per home open. Volumes didn’t increase and with most sales we have seen an erosion of equity with sales prices below what people paid. You would expect the buyers to have surged into the market but they are waiting for concrete data that the market isn’t going down further. State Treasury forward estimates are 0.7% growth in median prices in the 2018/2019 year.
New dwellings are expected to be 20,000 in 2018, 22,000 in 2019 and 23,000 in 2020. An interesting figure is the difference in days on market with Auction sales versus Private Treaty - 27 days by auction, 72 days by Private Treaty. We’ve noticed that the $2m plus market has been raided by well informed and savvy buyers with numbers of great buys and little remaining stock. As always, if you are thinking of buying or selling or would like a current market appraisal, please call us on 0405 709 763 or 0498 881 397.
Kathryn Perin
Ben Kahan
Sales Executive
Sales Executive
MARKET FACTS VOLUME OF SALES By Type HOUSES
2
UNITS
2
HOUSE SALES
35
4
FOR SALE
GONE
UNIT SALES
Highest Sale
$1,480,000
Highest Sale
$730,000
Lowest Sale
$670,000
Lowest Sale
$670,000
(Source RP DATA as at 03/07/2018)
FINANCE UPDATE At its latest meeting on 3rd July, the RBA opted to leave the official cash rate on hold at 1.5%. This marks the twenty-second meeting in a row where the RBA has left rates unchanged, with the last rate change taking place in August 2016, a 25 basis point rate cut. Having said that, the trend is upwards with costs of finance rising.
SOLD & SELLING (JUNE 2018 QTR) Gone
Welwyn Ave SALTER POINT $670,000
Gone
3x2x2
4x2x2
Gone
Gone
Batavia Way SALTER POINT UNDER CONTRACT
Cygnus Pde WATERFORD UNDER CONTRACT
Gone
4x3x2
Howard Pde SALTER POINT $730,000
Batavia Way SALTER POINT UNDER CONTRACT
4x2x2
Gone
3x2x1
Hope Ave SALTER POINT $825,000
3x1x1
Gone
Salter Point Pde SALTER POINT $1,480,000 4x2x2
Selling
3/15 Forward St MANNING $675,000
Selling
4x2x2
Selling
Selling
4 Edgewater Rd SALTER POINT From $950,000 6x3x2
5a Burnett Rd MANNING OFFERS
Selling
Selling
COMING SOON!
12/80 Edgecumbe St COMO From $399,000
2x1x1
MANNING
3x2x1
3x1x1
COMING SOON!
SALTER POINT
* DISCLAIMER - Not all of the above GONE and SELLING properties have been sold or listed by Bourkes
4x2x2
“You’re a dynamo! Always so positive and ever the professional. It’s been fabulous working with you - you are just brilliant at your job. Thank you for all your hard work and energy in selling our house.”
I would like to take the opportunity to thank you for the excellent job you did & for making the experience of selling our property in Salter Point through Bourkes. Your local knowledge,
M. & B. Bradburn
“The transition from one home to another came with stressors, deadlines and decisions, however Kathryn was able to support us and enable us to manage this seamlessly. She was always available, efficient and professional. Kathryn understood our needs and was always supportive. She often went beyond what we would have expected and this was greatly appreciated. We would recommend her services without hesitation.”
professionalism, friendliness and honesty made it possible to attract prospective buyers and a successful sale of our home very quickly. You kept us informed at every step of the selling process.
A & S Duryea
A Csolle
Authenticity | Excellence | Respect You've invested a lot into your home, now you need a team whom you can invest your trust in. With our combined 30+ years experience in property, we have proven strategies to ensure you achieve the best possible result, every time. Call today and use our experience to create your own.
Ben Kahan
Kathryn Perin
SALES EXECUTIVE
SALES EXECUTIVE
0498 881 397 ben@bourkes.com.au
0405 709 763 ben@bourkes.com.au
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