Bourkes Annual Market Summary

Annual Market Summary City of South Perth 2017 Suburb Snapshot

ANNUAL SUMMARY - CITY OF SOUTH PERTH

2017 Overview One of the most interesting facts I heard in late 2017 was our REIWA President, Mr Hayden Groves, say “The long term average number of sales in WA was 62,000 pa. Over the last 2 years the transaction numbers have been 31,000.� We knew numbers were down but not to that extent. This was a result of very low net migration to WA and low business and personal confidence.

It was good to see, in the WA budget, the below graph showing confidence is on the improve.

Also with the number of large resource projects underway, there is a shortage of 1,600 jobs for resource workers, so migration into WA will improve. We are seeing buyers from Sydney look now at WA real estate.

The worst is now behind us.

The Year Ahead 2018 will show an improvement in both sales and property management.

Rental vacancy rates are returning to normal levels 3-4% (down from 7-10% a year ago).

Rents will start to improve, as demand for scarcer properties push rents, back towards where they were.

With an increase in rents and potential for capital growth, the residential investor will return to the market. This in turn will fuel demand and push up prices.

The 2018 year ahead will be a much better year for sellers, investors, buyers and real estate agents.

Alan Bourke Principal / Auctioneer 16/01/18

2017 MARKET SNAPSHOT

Volumes

2013 2014 2015 2016 2017

COMO Houses Units Land

180 159 126 116 154 280 261 201 152 123 16 11 16 1 9

SOUTH PERTH Houses Units

107 106 93 83 92 301 242 201 170 178

KENSINGTON Houses

70 76 46 53 56

MANNING Houses

84 67 54 56 54

SALTER POINT Houses

34 33 42 37 36

RIVERVALE Houses

190 131 97 97 110

TOTAL

1075 964 788 664 702

Median Prices

2013 2014 2015 2016 2017

% Change 12 Months

COMO Houses Unit Land

870 891 895 837.5 730.5 -12.8% 500 501 510 493 475 -3.7% 650 645 642.5 550 595 8.1%

SOUTH PERTH Houses Unit

1,150 1,155 1,250 1,225 1,150 -6.1% 550 605 559 542.5 574 4.8%

KENSINGTON Houses

864.5 880 835 862 750 -13.1%

MANNING Houses

767.5

825 740.45

SALTER POINT Houses

1,100

1,150 1,132.5 1.,045

747 809.5 1,125

8.4% 7.7%

* All data here sourced REIWA 2017

PAGE 3 OF 24

ANNUAL SUMMARY - CITY OF SOUTH PERTH

South Perth - House Statistics No. of Sales

Median long term average

Average No. of Sales = 2017

16/01/18

=

Median

Change

$ 923,666

119.5 23% down on long term average

Lowest

Highest

2017 MARKET SNAPSHOT

South Perth - Houses

Average No. of Sales 119 23%

PAGE 5 OF 24

ANNUAL SUMMARY - CITY OF SOUTH PERTH

South Perth - Unit Statistics No. of Sales

Median long term average

Average No. of Sales = 2017

16/01/18

=

Median

Change

$ 394,000

323 45% down on long term average

Lowest

Highest

2017 MARKET SNAPSHOT

South Perth - Units

Average No. of Sales 323 45%

PAGE 7 OF 24

ANNUAL SUMMARY - CITY OF SOUTH PERTH

Como - House Statistics No. of Sales

Median

Change

Median long term average

$ 658,986

Average No. of Sales = 2017 =

168 9% down on long term average

Como - Price Range Segmentation

16/01/18

Lowest

Highest

2017 MARKET SNAPSHOT

Como - Houses

Average No. of Sales 168 9%

PAGE 9 OF 24

ANNUAL SUMMARY - CITY OF SOUTH PERTH

Como - Unit Statistics No. of Sales

Median long term average

Average No. of Sales = 2017

16/01/18

=

Median

Change

$ 378,625

304 60% down on long term average

Lowest

Highest

2017 MARKET SNAPSHOT

Como - Units

Average No. of Sales 304

60%

PAGE 11 OF 24

ANNUAL SUMMARY - CITY OF SOUTH PERTH

Kensington - House Statistics No. of Sales

Median long term average

Average No. of Sales = 2017

16/01/18

Median

=

Change

$ 635,861

75 25% down on long term average

Lowest

Highest

2017 MARKET SNAPSHOT

Kensington - Houses

Average No. of Sales 75 25%

Kensington - Price Range Segmentation

PAGE 13 OF 24

ANNUAL SUMMARY - CITY OF SOUTH PERTH

Kensington - Unit Statistics No. of Sales

Median long term average

Average No. of Sales = 2017

16/01/18

Median

=

Change

$ 373,930

19 52% down on long term average

Lowest

Highest

2017 MARKET SNAPSHOT

Kensington - Units

Average No. of Sales 19

52%

Kensington - Unit Price Range Segmentation

PAGE 15 OF 24

ANNUAL SUMMARY - CITY OF SOUTH PERTH

Manning - House Statistics No. of Sales

Median long term average

Average No. of Sales = 2017

16/01/18

Median

=

Change

$ 581,991

88 39% down on long term average

Lowest

Highest

2017 MARKET SNAPSHOT

Manning - Houses

Average No. of Sales 88

39%

Manning - Price Range Segmentation

PAGE 17 OF 24

ANNUAL SUMMARY - CITY OF SOUTH PERTH

Rivervale - House Statistics No. of Sales

Median long term average

Average No. of Sales = 2017

16/01/18

=

Median

Change

$ 427,138

166 34% down on long term average

Lowest

Highest

2017 MARKET SNAPSHOT

Rivervale - Houses

Average No. of Sales 166

34%

Rivervale - Price Range Segmentation

PAGE 19 OF 24

ANNUAL SUMMARY - CITY OF SOUTH PERTH

Salter Point - House Statistics No. of Sales

Median long term average

Average No. of Sales = 2017

16/01/18

Median

=

Change

$ 845,305

44 8.2% down on long term average

Lowest

Highest

2017 MARKET SNAPSHOT

Salter Point - Houses

Average No. of Sales 44 8.2%

Salter Point - Price Range Segmentation

PAGE 21 OF 24

ANNUAL SUMMARY - CITY OF SOUTH PERTH

Victoria Park - House Statistics No. of Sales

Median long term average

Average No. of Sales = 2017 =

Median

Change

Lowest

Highest

$487,000

114.5 29% down on long term average

Average No. of Sales 114.5 29%

16/01/18

2017 MARKET SNAPSHOT

Victoria Park - Unit Statistics No. of Sales

Median long term average

Average No. of Sales = 2017 =

Median

Change

Lowest

Highest

$312,758

191 51% down on long term average

Average No. of Sales 191

51%

PAGE 23 OF 24

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