Bourkes Market Report - Kensington - March 2018 Quarter

AUTUMN 2018

experience better

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

MARKET UPDATE

WELCOME The first quarter in every year is a time for optimism and personal mobility. Families move into a suburb often to attend good schools. Companies transfer personnel at this time. Overseas migrants often move at the start of the school year.

Sales and rental figures always show good indications in the first quarter. That, combined with stable interest rates, a restoring confidence level and lower rental vacancy rates, all contribute to confidence for buyers and investors.

There is consistent reports that Perth has come from the darkness and into the light.

Sales numbers are strong and will recover in 2018. Homes are faring better than units with studies showing that the house market has bottomed and moving up. Units may still have a little way to go to bottom out in certain areas and product type.

Developers are looking again at smaller development sites. We are seeing strong interest in the Canning Bridge Precinct with exciting new projects coming on line.

In the retirement area, it was great to see Southcare get permission to build a new aged-care project in Manning too which will generate strong interest.

As always, if you are thinking of buying or selling or would like a current market appraisal, please call me on 0417 916 221.

Kevin Broughton Sales Executive 0417 916 221

MARKET FACTS VOLUME OF SALES

By Type

HOUSES

9

VILLAS

1

13

10

FOR SALE

GONE

HOUSE SALES (EXCL. VILLAS & TOWNHOUSES) Highest Sale

$1,165,000

Average Sale

$840,778

Lowest Sale

$560,500

Median Sale

$880,000

(Source RP DATA as at 10/04/2018)

FINANCE UPDATE At its meeting on April the 3rd, the RBA opted to leave the official cash rate on hold at 1.5%.

This marks the nineteenth meeting in a row where the RBA has left rates unchanged, with the last rate change taking place in August 2016, a 25 basis point rate cut.

SOLD & SELLING (MAR 2018 QTR) Gone

First Ave KENSINGTON $670,000

Gone

3x2x2

Gone

Third Ave KENSINGTON $950,000

Gwenyfred Rd KENSINGTON $755,000

Gone

3x1x1

Gone

3x2x2

Gone

40 Brandon St KENSINGTON From $895,000 3x2x2

Selling

Banksia Tce KENSINGTON $742,000

Arundel St KENSINGTON $560,000

3x2x1

Gone

3x1x1

Selling

16/16 Gwenyfred Rd KENSINGTON From $299,000 2x1x1

Selling

Ambon St KENSINGTON $1,165,000

5x3x2

Selling

4/50 Gwenyfred Rd KENSINGTON From $589,000 3x2x2 Under Contract

375 Mill Point Rd SOUTH PERTH From $899,000 2x1x1

16 Brandon St SOUTH PERTH From $1.395M 4x2x2

99 Brandon St KENSINGTON Low $1M’s 4x2x2

Under Contract

Under Contract

Under Contract

1/36 Banksia Tce KENSINGTON From $569,000 3x2x1

2/36 Banksia Tce KENSINGTON From $569,000

3/36 Banksia Tce KENSINGTON From $669,000 3x2x1

* DISCLAIMER - Not all of the above SOLD properties have been sold or listed by Bourkes

Since joining Bourkes Kevin has hit the ground running, securing a range of listings which he is actively marketing. Kevin will have pleasure introducing new properties to you in the coming weeks and months.

Kevin is a genuine Property Professional. He has over 25 years of experience in project marketing, town planning, land development, subdivision design and construction management. Kevin has marketed, designed or project managed more than 20,000 properties – allowing thousands of people to realise their property dreams.

Kevin is passionate about what makes Kensington special; lifestyle, location and community.

Whether selling, buying or researching, let Kevin’s property experience and passion work for you. Call Kevin directly on 0417 916 221.

IF YOU WOULD LIKE TO KNOW WHAT YOUR PROPERTY IS WORTH IN TODAY’S MARKET, PLEASE CALL US TODAY FOR AN OBLIGATION FREE APPRAISAL Kevin Broughton Sales Executive 0417 916 221 kevin@bourkes.com.au If you’d prefer to receive this report by email, please email me your details.

Bourkes experience better

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