WINTER 2020
experience better
MANNING
MARKET UPDATE
In this issue Market Facts | Finance Update | What’s Sold What’s Selling | Words of Wisdom
WELCOME JUNE QTR It’s very difficult for both buyers and sellers to understand what is happening in WA’s real estate market.
are anticipated to cease, so we may see unemployment rise and an increase in uncertainty for both employers and employees.
The National Australia Bank is predicting falls of 7-11% in 2020-21. On the other side of the story is REIWA and real estate agents here are witnessing high sales at levels not seen since 2014.
Over the next 2 months there is a level of certainty in the market, so we’d suggest not waiting until Spring to sell. Go now!
The numbers of listings both for sale and for lease are at 6 year lows. We believe that now is the time to sell. After September 30, JobKeeper and JobSeeker programs
low supply it is inevitable that rents will rise in the last quarter of 2020.
As always, if you are thinking of buying or selling or would like a current market appraisal, please call me on 0405 709 763.
Rentals With 4,000 properties to lease and leasing rates at 1,000 per week, we will see rents rise after the September 30 deadline. Investors aren’t allowed to increase rents for existing tenants until after this date, so with high demand and
Kathryn Perin Sales Executive
MARKET FACTS (JUN QTR 2020) VOLUME OF SALES By Type HOUSES
12
LAND
0
UNIT
0
9
12
FOR SALE
GONE
LAND SALES
HOUSE SALES Highest Sale
$970,000
Highest Sale
NIL
Lowest Sale
$430,000
Lowest Sale
NIL
(Source RP Data as at 01/07/2020)
FINANCE UPDATE BY GLEN AUSTEN - DIRECTOR - TAG FINANCIAL GROUP WA . is finally moving back towards some sort of normality again and we all hope that things only get better from here. Our economy and property market has been idle for a number of years now, and the last thing it needs is a second wave outbreak like the one seen in Victoria. The activity is certainly bubbling away as buyers and refinancers are waking from their covid-hibernation, and grants from both the State & Federal Governments have got builders frantically trying to keep up, and developers trying to get more land released. The benefit to us in WA is that we are only a small pawn in the overall economy, meaning that we have little effect on the Reserve Banks interest rate decisions. Our economy is opening up which hopefully means that our unemployment rate will start to come down, interest rates are still at all time lows and are unlikely to increase whilst the East is back in lockdown, and banks are willing to lend money still. You could almost say that WA has “green shoots” again!
SOLD & SELLING (JUN 2020 QTR)
Gone
Gone
36a Bradshaw Crescent MANNING $970,000 3x2x2
Gone
4x2x6
Gone
45 Conochie Crescent MANNING $799,000 4x2x2
Gone
5 / 31 Conochie Crescent MANNING $440,000 3x1x2
Selling
4 Godwin Avenue MANNING $915,000
3x1x2
2 / 119 Manning Road MANNING Expressions Of Interest 4x3x2
Selling
Selling
3x1x1
55a Conochie Crescent MANNING $730,000 4x2x2
Gone
Selling
2 / 10a Bradshaw Crescent MANNING From $699,000 3x2x2
27 Conochie Crescent MANNING $795,000 4x2x2
Gone
Gone
49 Crawshaw Crescent MANNING $1,225,000 4x2x2
4 Jarman Avenue MANNING Under Contract
14 Bruning Road MANNING Under Offer
Gone
76 Griffin Crescent MANNING From $899,000 3x2x2
* DISCLAIMER - Not all of the above GONE properties have been sold or listed by Bourkes
1 / 68 Downey Drive MANNING $510,000 3x1x2
Selling
58 Welwyn Avenue MANNING From $529,000 3x1x1
Selling
24b Craigie Crescent MANNING Under Contract 4x3x2