Bourkes Market Update e-Version South Perth - Autumn 2020

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AUTUMN 2020

experience better

SOUTH PERTH In this issue Market Facts | Finance Update | What’s Sold What’s Selling | Words of Wisdom

MARKET UPDATE


WELCOME MARCH QTR With everyone left distancing and staying at home one would assume that sales would have slowed considerably.

Buyers are still out buying – using virtual tours, 3D tours, Facetime and WhatsApp showings then requesting a private viewing.

Not the case.

This will probably change the way properties are searched and viewed forever.

REIWA reported on 31 March that weekly sales were 603 down from 690 the week before and up from 469 the year before. We expect sales to reduce as isolation kicks in. After the hibernation we will return to another new normal-whatever that looks like. We just know that now is a sensational time for buying. For those with job stability jump in now!

MARKET FACTS

On another topic, there’s nothing more comforting in these times of isolation as your own home. To have loved ones under your own roof and out of harms way is very comforting.

of security & well being that comes with owning your own home. Stay safe. As always, if you are thinking of buying or selling or would like a current market appraisal, please contact one of our area specialists.

Bob Menzies talked of housing as ‘MetaPhysical’- not just the physical nature of the house but the feeling

(MAR QTR 2020)

VOLUME OF SALES - BY TYPE HOUSES

14

APARTMENTS/UNITS/ TOWNHOUSES/FLATS

55

LAND

2

HOUSE SALES Highest Sale Lowest Sale

102

71

FOR SALE

GONE

LAND SALES

$5,750,000 $555,000

Highest Sale Lowest Sale

$565,000 $550,000

(Source RP DATA as at 08/04/2020)

FINANCE UPDATE BY GLEN AUSTEN - DIRECTOR - TAG FINANCIAL GROUP Most of us have heard enough of the “unprecedented times” that we are in, so let’s look at the positives of the financial sector and what is going on in the big wide world that we are not allowed to physically explore anymore. The Government is helping those with mortgages to maintain them by offering various stimulus options. The banks are helping by pausing (not waiving) repayments for 3 to 6 months, dropping rates, and offering loans to SME’s to help them maintain their businesses. Most importantly though, the banks are still open for business and lending money. Yes they are being a bit more cautious and ensuring that they lend to those they feel are of less risk, but they are still lending money, and lots of loan applications are still being submitted and getting approved. The world hasn’t stopped. It’s just got a really bad cold and we are all working together to shake it. In the process the savvy buyers and sellers are using this opportunity to their advantage!


SOLD & SELLING Gone

Norfolk Street SOUTH PERTH $1,475,000 3x2x2

Gone

Roseberry Avenue SOUTH PERTH $980,000 3x1x1

Gone

Coode Street SOUTH PERTH $870,000 4x2x2

Selling

2 Karoo Street SOUTH PERTH $2,500,000 6x3x3

Selling

30 Roseberry Avenue SOUTH PERTH Mid $1M’s 4x2x2

(MAR QTR 2020) Gone

Labouchere Road SOUTH PERTH $683,000 3x2x2

Gone

Hampden Street SOUTH PERTH $1,600,000 4x2x2

Gone

Canning Highway SOUTH PERTH $555,000 2x1x1

Selling

6A Ridge Street SOUTH PERTH Offers Above $799,000 3 x 2 x 4

Selling

69A Strickland Street SOUTH PERTH EOI 4x3x4

Gone

Jubilee Street SOUTH PERTH $2,400,000 4x3x3

Gone

Douglas Avenue SOUTH PERTH $1,210,000 4x3x4

Gone

Mends Street SOUTH PERTH $5,750,000 3x3x2

Selling

18 Scenic Crescent SOUTH PERTH $1,850,000 4x3x2

Selling

76 Lawler Street SOUTH PERTH $1,100,000 4x2x2

* DISCLAIMER - Not all of the above GONE or SELLING properties have been sold by Bourkes and are provided for information purposes.