CY Magazine - Issue 161

WELCOME

Richard Young - CEO, CY Property

UNDERSTANDING BUYERS

CY embarked on a quest to unravel the origins of buyers to enhance our service for sellers.

Our decision to delve into this has yielded invaluable insights, empowering our targeted marketing endeavours.

Our biannual research has unearthed compelling data that guides our strategies. Contrary to common belief, merely opting for a strong local agent may not be the optimal choice.

Surprisingly, only 18% of buyers purchase properties within the same postcode, while 34% hail from surrounding postcodes.

These buyers, often extensively informed, typically seek value and are less inclined to pay premium prices. Consequently, relying solely on a local agent might overlook a significant 48% of the market—where premium prices are prevalent.

Armed with such knowledge, we engage with prospective sellers, showcasing our ability to tap into the entire market and substantiating our approach with concrete metrics.

Remarkably, this targeted strategy involves minimal additional investment, considering the substantial gains from attracting highly motivated buyers.

Recent successes confirm this, with buyers vying for properties not just locally but also nationally and internationally- notably from New Zealand, the UK, the US, India and South East Asia.

In essence, our research illuminates the diverse sources of buyers and underscores the importance of a nuanced, data-driven approach to marketing properties.

By understanding buyer behaviour and market dynamics, we empower sellers to maximize their property’s appeal and potential, transcending geographical boundaries for optimal outcomes.

COVER: Contact Michael Mort 0403 342 681 or Mary Tan 0451 823 933 for details.

With

CY Magazine is published by: CY Property Pty Ltd

For advertising or other enquiries, please contact Lisa Pereira on (08) 9385 5559. Design by: alex@propertystory.com.au

The CY Magazine is distributed free of charge into 40,000 letterboxes in Perth’s most affluent riverside and oceanside suburbs shaded below:

REACHING BUYERS THE INTERNET SIMPLY CAN’T REACH

SALES

Michael Mort - CY Partner, Team Sales Manager

STAND-OUT SALES

Our sales team have had a strong start to the June quarter, with a record month in April Despite the Easter break, public holidays and school holidays we’ve made several notable sales in recent weeks

What may prove to be the highest price achieved for a residential property in Perth this year, we were delighted with the off-market sale of a phenomenal property in Peppermint Grove, right on the banks of the Swan River. This iconic early-1900s home is complete with everything you’d expect from a grand property of the era – chandeliers, decorative arches, parquetry flooring and a marble kitchen, along with an enchanting private garden and incredible water views. The lucky new owners are sure to be the envy of their friends and family.

24 Holdsworth Street, Fremantle, also attracted a lot of interest and is now under offer in the mid $1,000,000s. Built in 1886, the property has been updated to reflect modern life, while still retaining all of its old-world charm, it’s easy to see why so many buyers were keen to secure this gorgeous terrace home. Our auction at 1/246

Broome Street, Cottesloe went under the hammer and was sold for $1,439,000 after a lot of interest throughout the campaign. We welcomed 70 groups through our home opens and fielded plenty of enquiries, and on the day four active bidders battled it out over 67 bids before the lucky new owners managed to secure the property.

With the market continuing to show signs of strength, price growth of up to 20 per cent is a real possibility this year, according to a recent analysis from the experts at REIWA. The median sale price for houses has already increased by 13.6 per cent to March 2024 to a record $625,000, and there is no sign of it losing steam.

We are still experiencing a significant imbalance in terms of supply and demand, as our population continues to increase. This trend is expected to persist throughout 2024, which will in turn put upward pressure on prices.

Our sales team tailor bespoke solutions to match each unique property and vendor, and we have successfully used all four methods of sale recently – private treaty, offers by closing date, off-market and auction – with great results.

If you’re considering selling and would like to discuss the benefits of each method and how to select the one that best suits your situation and goals, please reach out to us for a confidential chat.

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MARY TAN 0451 823 933 mary.tan@cyproperty.com.au

A very rare opportunity - a world-class property nestled on the banks of the Swan River. Built in the early 1900s, the iconic residence was the original grand property of passionate community members, William and Olive Evans. Enveloped by vast gardens and an idyllic riverfront lifestyle, the couple raised six children in the original Federation bungalow on this site and remained there for 60 years.

Stunningly situated opposite the gorgeous Market Square parklands nature strip in sought-after central Subiaco, this exquisite 3 bedroom 4 bathroom home is a showcase of contemporary style and elegance. It spans four spectacular levels and boasts the option of being purchased as fully-furnished, making it move-in ready.

Combining a celebrated harbour side address with direct river access, exceptional quality, carefully crafted spaces and glorious river, port, ocean and Rottnest Island views. Arguably, the very best of Rivershores, positioned on the penthouse level above the river. Choice of 15m or 24m boat pen or 16 pen Marina available.

NORTH COOGEE

This rarest of rare north-facing land offers a lifestyle often dreamt of but is very seldom achievable. A block that owns seabed into the canal allows you to build your forever dream home and, almost more importantly, your own private dock for your boat. This is pure ‘Lifestyle’ Rottnest Island is on your doorstep!

FOR SALE From $2,850,000

RICHARD YOUNG 0412 385 056 richard@cyproperty.com.au

HANNAH TALLON 0414 755 542 hannah@cyproperty.com.au

Located just steps from Fishing Boat Harbour, this historic and immaculately presented home was built in the 1930s by a member of the iconic Ciccerello dynasty - remaining in the family for over 80 years. This extremely rare (803sqm) allotment is unique for this part of Fremantle with planning approvals in place to subdivide.

Charming heritage touches, sweeping verandahs, classic sash windows and ornate ceiling details bring timeless elegance to this charming riverside home. Generous living areas extend to a spectacular alfresco entertaining & pool zone, while a huge workshop, ample parking and a carefully considered floorplan accommodate every stage of family life.

within the exclusive Seaspray Island enclave and discreetly nestled within the award-winning North Coogee Residential Estate, this breathtaking modern coastal sanctuary is an enchanting celebration of glistening waterfront views, endless natural light & cooling sea breezes.

Having only ever been owned by the one family since it was built back in 1956, this spacious and contemporary 4-5 bedroom 3 bathroom two-storey home exudes a timeless charm that can only come from decades of cherished memories, offering functional, flexible and versatile multi-generational living at the very same time.

0426 907 397 vincent@cyproperty.com.au

0406 694 963 ali@cyproperty.com.au

SWANBOURNE 2A MYERA STREET

Nestled on a commanding, yet low-maintenance, 423sqm (approx.) corner block where the stunning lakeside Ballaruk Bushland sits only walking distance away and at the end of the cul-de-sac, this impressive brand-new 4 bedroom 3 bathroom two-storey residence defines modern “lock-up-and-leave” living, offering a versatile floor plan in one of Perth’s premier locations. FOR SALE High $1,000,000s

MICHAEL MORT 0403 342 681 michaelm@cyproperty.com.au

MARY TAN 0451 823 933 mary.tan@cyproperty.com.au

SPACIOUS LIVING AT ITS FINEST

Elevate your family’s lifestyle with this magnificent residence in one of Perth’s highly sought-after riverside suburbs. Boasting a generous layout with multiple living and entertaining areas, ample secure parking, and a versatile office, gym or studio at rear. Perfectly positioned close to prestigious schools, river, city and freeway. FOR SALE C oming Soon

CLASSY MODERN LIVING

Positioned in a quiet leafy side street and at the heart of Subiaco, this property offers two spacious courtyards that blur the line between indoor and outdoor living. The external zones effortlessly extend the living space and provide fabulous options for entertaining. It is also in the catchment zone for Subiaco Primary and Bob Hawke College.

STUNNING 1898 RENOVATED GEM

Perched at a lofty street elevation in one of Fremantle’s most iconic community enclaves, this remarkably restored weatherboard cottage catches ocean glimpses and refreshing sea breezes from its proximity to the Port City harbour. Jarrah floors, high ceilings, and striking exposed brickwork complement chic, modern-day additions.

0412 385 056 richard@cyproperty.com.au

0414 755 542

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THE GLAMOROUS ENTERTAINER

NEDLANDS 117 DALKEITH ROAD

The elegance of period character blends perfectly with a modern family’s relaxed lifestyle in this stunning home. Offering charming traditional features and bright, spacious living areas that are perfect for easy relaxing and entertaining. A great sense of space was created when this home was extended embracing its sunny northwestern aspect to awelcoming alfresco area and back garden.

LEASED $1,925 per week

KASEY BULL 0432 445 856 kasey@cyproperty.com.au

TALEMAITOGA 0421 199 685 liliana@cyproperty.com.au

KASEY

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KASEY

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liliana@cyproperty.com.au

KASEY

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RENTAL REVIEW

Sheridan Currie - Property Management Team Leader

NAVIGATING THE NEW RTA

We’ve had a lot of our landlords contact us recently, concerned about the Residential Tenancies Amendment Act 2024, and what the new legislation means for them as the rollout begins this month.

At CY, we’ve always had systems and processes in place that enable us to conduct thorough inspections with strong attention to detail, and we set the bar high when it comes to serving both our landlords and our tenants. As a result, our team is not concerned with the recent changes. In fact, most of what the new Act covers are things we already deal with on a daily basis, the only

FOR LEASE

difference is now the RTA has now outlined clearer guidelines and responsibilities for the rest of the industry to follow, with the changes to be implemented in stages throughout 2024-25.

It’s understandable to be nervous, but CY landlords don’t need to worry – with a professional agent by your side you are well-placed to navigate any changes in legislation or the market with confidence. If you have any questions or would like help understanding the changes and how they affect your property, give us a call – our experienced team is always happy to help.

Selection of hot properties currently for lease

The CY Difference

We do more than just match the right tenant to your property, we take care of every step in the process. Zero stress, maximum price - that’s our promise.

You are in Good Hands