AUTUMN 2017
SOUTH PERTH
MARKET
UPDATE
In this issue What’s Sold // Market Facts // Finance Update What’s Selling // Nice Words
Photograph by Gordon Cheok
WELCOME As the front window of our office shows, we are seeing the first ‘green shoots’ appear in the market by way of slightly improved sales volumes. This hasn’t as yet translated to improvement in prices and won’t for a while. This is due to 3 factors: 1. Lower confidence levels 2. Minimal population growth in WA 3. High stock levels But at least volume of sales is improving and stock levels are not growing in number. Auctions are starting to show good successes with a number of homes selling at auction in the last month.
Things are improving in this market too. The vacancy rate is lower though than it was last quarter (at about 5%). Investors comprise less than 9% of the market with occupiers being the balance. As always, if you are thinking of buying or selling or would like a current market appraisal, please call me today on
0403 069 733.
John Szkirpan
Rents are still soft and tenants are negotiating on current rent levels to stay in existing homes.
MARKET FACTS
(MAR QTR 2017)
VOLUME OF SALES - BY TYPE HOUSES
16
APARTMENTS
32
LAND
5
VILLAS
1
TOWNHOUSES
10
HOUSE SALES
192
64
FOR SALE
GONE
APARTMENT SALES
Highest Sale
$1,900,000
Highest Sale
$12,200,000
Lowest Sale
$625,000
Lowest Sale
$280,000
Average Sale
$892,000
Median Sale
$548,000
Average Sale Median Sale
$1,150,000 $1,175,000
(Source REIWA as at 15/05/2017)
FINANCE UPDATE At its latest meeting on the 2nd May the RBA opted to leave the official cash rate on hold at 1.5%. This follows new data that indicates the strong Sydney and Melbourne property markets may be close to peaking following APRA’s intervention into the levels of interest only and investment lending the banks are funding. The banks however are raising rates independent to the RBA by 0.25 - 0.50%.
-
SOLD & SELLING (MAR 2017 QTR) Gone
Mill Point Rd SOUTH PERTH $302,500 1x1x1
Gone
Melville Pde SOUTH PERTH $745,000 2x1x1
Selling
6/27 Hardy St SOUTH PERTH Mid $600’s 3x2x2
Selling
2/40 Hampden St SOUTH PERTH From $1.050-$1.1m 3x2x3
Selling
90b Labouchere Rd SOUTH PERTH All Offers Presented 3x2x3
Gone
Ranelagh Cres SOUTH PERTH $1.925M 4x3x4
Under Offer
Arlington Ave SOUTH PERTH Under Offer 4x2x2
Selling
1/126 Labouchere Rd SOUTH PERTH $899,000 3x2x2
Selling
28 Anthony St SOUTH PERTH From Mid $1M’s 4x2x2
Selling
113 Douglas Ave SOUTH PERTH Closing Date Sale 3x1x2
Gone
Stone St SOUTH PERTH $530,000
2x2x1
Under Offer
Hardy St SOUTH PERTH Under Offer
3x2x2
Selling
22/150 Mill Pt Rd SOUTH PERTH Late $300’s 2x1x1
Selling
90a Labouchere Rd SOUTH PERTH Offers 3x2x2
Selling
71 Strickland St SOUTH PERTH From $699,000 2x1x3
John 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
“A big thanks to John for assisting us with the purchase of our Como property. John’s advice was spot-on and he handled negotiations on our behalf very effectively. His honest and straightforward approach kept us well-informed and very comfortable throughout the process.” R & D Norrish “We would like to take this opportunity to thank John Szkirpan for the way he has handled the purchase of our property. John is very professional and highly efficient, and also provides very good service. We have been in Australia nearly 20 years and we have purchased and sold quite a lot of properties, John is the best agent who gave us such a brilliant experience. We have no hesitation in recommending John to anyone selling or buying the property, in fact we have already done so. Thanks again.” Ke Sui & Xiao Yan Yu “Thank you John for taking us through a positive experience as we sell our investment property. As we don’t live in the same state, you have helped us understand the market, frequently updating us on progress, and when it came to make a decision to accept the offer, we were confident we had the best advice and information to do so. Thank you.” D & C Cater
IF YOU WOULD LIKE TO KNOW WHAT YOUR PROPERTY IS WORTH IN TODAY’S MARKET, PLEASE CALL ME TODAY FOR AN OBLIGATION FREE APPRAISAL John Szkirpan - Sales Executive 0403 069 733 john@bourkes.com.au If you’d prefer to receive this report by email, please email me your details.
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