WINTER 2018
experience better
SOUTH PERTH 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.
MARKET FACTS
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 today on 9474 2000.
Alan Bourke B.Ec. Principal/Auctioneer
(JUNE QTR 2018)
VOLUME OF SALES - BY TYPE HOUSES
25
APARTMENTS
37
LAND
4
COMMERCIAL
1
HOUSE SALES
274
71
FOR SALE
GONE
APARTMENT SALES
Average Sale
$4,100,000 $630,000 $1,507,848
Average Sale
$1,280,000 $235, 000 $550,486
Median Sale
$1,290,000
Median Sale
$490,000
Highest Sale Lowest Sale
Highest Sale Lowest Sale
(Source RP DATA as at 04/07/2018)
FINANCE UPDATE At its 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 Under Contract
24 River View St SOUTH PERTH Contact Agent 3x2x3
Gone
Douglas Ave SOUTH PERTH $737,500 2x1x1
Selling
1/30 Hampden St SOUTH PERTH $675,000 2x2x1
Selling
42/1 Hardy St SOUTH PERTH Offers 2x1x1
Selling
(JUNE 2018 QTR) Gone
Gone
Mill Point Rd SOUTH PERTH $899,000 3x1x1
Gone
Coode St SOUTH PERTH $749,000
3x2x2
Gone
2x1x1
Selling
Canning Hwy SOUTH PERTH $630,000 3x1x2
Selling
2/6 Brookside Ave SOUTH PERTH From $429,000 1 x 1 x 1 + Study
Selling
5/8 York St SOUTH PERTH $499,000
Queen St SOUTH PERTH Contact Agent
3/37 Labouchere Rd SOUTH PERTH From $395,000 1x1x1
Selling
2x1x1
Selling
16 Brandon St SOUTH PERTH From $1,295,000 4 x 2 x 2 + Study
Selling
COMING SOON! 2/32 Norton St SOUTH PERTH $499,000 2x1x1
Hensman St SOUTH PERTH From $799,000 3x2x2
South Terrace COMO Contact Agent
* DISCLAIMER - Not all of the above SOLD properties have been sold by Bourkes and are provided for information purposes.
4x1x2
John Szkirpan is a fantastic agent and went above and beyond the call of duty. Very helpful with all my queries and very patient when it came to assisting me with my first home purchase. It was great dealing with you and thanks again! Would highly recommend! J. Greenaway
“Karen Firth delivered on the two things that really mattered – rapid sale of property and optimal sale price for the home – a great salesperson. I found the service supplied to be above average and I’m satisfied with the results. A pleasure to do business with, would contact Karen Firth when selling or buying in this area in the future. Professional and efficient agent, made our purchase trouble free and pleasurable.” P. & S. Keynes
“Steven Webster was great to deal with, up front, honest and helpful. Steven went out of his way to accommodate our requests, and he is very professional as well as approachable. I would happily recommend him.” C. Power
“Kathryn Perin is 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.” M. & B. Bradburn
If you would like to know what your property is worth in today’s market, please call us today for an obligation free market appraisal on 9474 2000. Steven Webster 0413 310 330
Kathryn Perin 0405 709 763
John Szkirpan 0403 069 733
Karen Firth 0411 429 069 272 Canning Highway COMO | 08 9474 2000 | bourkes.com.au
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