WINTER 2020
SALTER POINT In this issue Market Facts | Finance Update | What’s Sold What’s Selling | Words of Wisdom
MARKET UPDATE
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!
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
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
Kathryn Perin Sales Executive
MARKET FACTS (JUN QTR 2020) VOLUME OF SALES By Type HOUSES
5
LAND
3
UNITS
1
HOUSE SALES
8
9
FOR SALE
GONE
LAND SALES
Highest Sale
$1,408,888
Highest Sale
$690,000
Lowest Sale
$650,000
Lowest Sale
$570,000
(Source RP DATA as at 1/7/2020)
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
12 McNess Glade SALTER POINT $1,250,000 4x2x2
15 McNess Glade SALTER POINT $1,048,888 4x2x2
Gone
Gone
2 Dyer Way Way SALTER POINT $920,000 4x2x2
Gone
46 Letchworth Centre Ave SALTER POINT Under Offer Land
Selling
38 River Way SALTER POINT Expressions Of Interest
Gone
Gone
41a Pepler Avenue SALTER POINT $570,000 Land
Selling
25 Klem Avenue SALTER POINT Suits Buyers Over $1,175,000 5x2 x2
Lot 210, 25 Sulman Avenue SALTER POINT $660,000 Land
Gone
Gone
162 a,b,c,d River Way SALTER POINT Under Offer Block Of Units
4 Success Crescent SALTER POINT $895,000 3x1x2
Selling
4x3x2
11a Klem Avenue SALTER POINT Under Offer 3x1x3
Selling
25b Sulman Avenue SALTER POINT Offers Above $1,599,000 5x3x2
Selling
29 River Way SALTER POINT Expressions Of Interest
3 Salter Point Parade SALTER POINT Contact Agent 4x2x3
Selling
4x2x3
18 Unwin Crescent SALTER POINT Contact Agent 6x3x6
* DISCLAIMER - Not all of the above GONE and SELLING properties have been sold or listed by Bourkes and are provided for information purposes only.