Bourkes Market Report - Kensington - March 2017 Quarter

AUTUMN 2017

KENSINGTON In this issue What’s Sold // Market Facts // Finance Update What’s Selling // Nice Words

MARKET

UPDATE

WELCOME As the front window of our office shows, we are seeing the first ‘green shoots’ appear in the market by way of slightly improved sales volumes. This hasn’t as yet translated to improvement in prices and won’t for a while. This is due to 3 factors: 1. Lower confidence levels 2. Minimal population growth in WA 3. High stock levels But at least volume of sales is improving and stock levels are not growing in number.

Auctions are starting to show good successes with a number of homes selling at auction in the last month.

Rents are still soft and tenants are negotiating on current rent levels to stay in existing homes.

Things are improving in this market too.

The vacancy rate is lower though than it was last quarter (at about 5%). Investors comprise less than 9% of the market with occupiers being the balance.

As always, if you are thinking of buying or selling or would like a current market appraisal, please call me today on 0411 429 069.

Karen Firth Real integrity is doing the right thing, knowing that nobody’s going to know whether you did it or not.

Oprah Winfrey

MARKET FACTS VOLUME OF SALES

By Type HOUSES

KENSINGTON Listed & Sold

21

UNITS

0

LAND

0

22

21

FOR SALE

GONE

HOUSE SALES Highest Sale

$1,185,000

Average Sale

$787,952

Lowest Sale

$498,000

Median Sale

$750,000

(Source REIWA as at 15/05/2017)

FINANCE UPDATE At its latest meeting on the 2nd May the RBA opted to leave the official cash rate on hold at 1.5%. This follows new data that indicates the strong Sydney and Melbourne property markets may be close to peaking following APRA’s intervention into the levels of interest only and investment lending the banks are funding. The banks however are raising rates independent to the RBA by 0.25 - 0.50%.

SOLD & SELLING (MAR QTR 2017) Gone

Gone

Gwenyfred Rd KENSINGTON $750,000 2x1x1

Gone

King St KENSINGTON $720,000

Douglas Ave KENSINGTON $685,000 2x1x1

Gone

2x1x3

3x2x1

Campbell St KENSINGTON $990,000 3x1x2

Gone

Lansdowne Rd KENSINGTON $695,000 2x1x1

Selling

83 King George St KENSINGTON From $1.3M 4x2x2

Hovia Tce KENSINGTON $1,000,000

Sixth Ave KENSINGTON $1,185,000

4x2x2

Gone

4x2x2

Gone

Vista St KENSINGTON $839,000

Banksia Tce KENSINGTON $755,000 3x2x1

Gone

Gone

Gone

Arundel St KENSINGTON $930,000

Gone

First Ave KENSINGTON $750,000

3x2x2

Gone

4x2x2

Selling

58 Banksia Tce KENSINGTON $850,000 3x2x2

Second Ave KENSINGTON $720,000 2x1x1

Selling

113 Douglas Ave KENSINGTON Closing Date Sale 3x1x2

DISCLAIMER: Please note, not all of the above properties were sold by Bourkes

“Karen delivered on the two things that really mattered – rapid sale of property and optimal sale price for the home – a great salesperson. I found the service supplied to be above average and I’m satisfied with the results. A pleasure to do business with, would contact Karen Firth when selling or buying in this area in the future.

Professional and efficient agent, made our purchase trouble free and pleasurable.”

Karen provided an

extremely professional service. I would not hesitate to recommend her to anyone wishing to sell their house.

P. & S. Keynes

“…it is our view that Karen Firth has achieved for you a result that is nothing less than sensational…”

P. Cookson

Michael White & Co.

“For what it’s worth, call Firth!”

Karen Firth Senior Sales Executive 0411 429 069 karen@bourkes.com.au If you’d prefer to receive this report by email, please email me your details.

272 Canning Highway COMO / 08 9474 2000 / bourkes.com.au Connect with Bourkes /Bourkes.Property /@Bourkes_Property /BourkesTV /Bourkes