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AU T U M N 2 0 1 8

In the Park

ST JAMES

MARKET UPDATE

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


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.

MARKET FACTS

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 0401 076 690.

Andrew Patterson Sales Executive

(MAR QTR 2018)

VOLUME OF SALES - BY TYPE HOUSES

8

APARTMENTS

1

LAND

0

COMMERCIAL

0

HOUSE SALES

$690,000 Lowest Sale $350,000 Average Sale $491,425 (Source RP DATA Median Saleas at 07/02/2018) $536,250 Highest Sale

22

10

FOR SALE

GONE

APARTMENT SALES Highest Sale Lowest Sale Average Sale Median Sale

$170,000 $170,000 $170,000 N/A

(Source RP DATA as at 17/04/2018)

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

Gone

Gone

Holder St ST JAMES $350,000

3x1x2

3x1x1

Gone

Wyndham St ST JAMES $450,000

3x1x2

Ellam St ST JAMES $690,000

2 Alvah St ST JAMES $735,000 - $765,000

3x1x1

4x2x2

5x2x2

Hill View Tce ST JAMES $530,000

3x1x2

4/15 Ellam St ST JAMES $399,000

3x1x2

Selling

16 Palmerston St ST JAMES From $439,950 3x1x2

38 Pitt St ST JAMES $950,000 - $990,000

3x2x2

Selling

Selling

4x2x1

Coolgardie St ST JAMES $532,000

Gone

Selling

Selling

1 Wyndham St ST JAMES From $695,000

3x2x2

Selling

Selling

12 Bone St ST JAMES From $588,000

Boundary Rd ST JAMES $525,000

Gone

Gone

Gone

Reen St ST JAMES $452,000

(MAR 2018 QTR)

24 Gladstone St ST JAMES From $570,000 4x2x2

Selling

7x4x2

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

108 Hill View Tce ST JAMES $550,000 - $600,000

4x1x1


“From the start Andrew was straight up with us where the market is at. With Andrew local knowledge and experience, he was right on the mark with the pricing. The house was sold in weeks, not months as you see on the market.”

Andrew was fantastic helping in all areas getting the house ready for the market, organizing and attending the fixes that was required and mediating between both owners. Andrew would also advise how the market was going, giving his input for a good sale. Thanks again. Andrew!

Justin

“I chose Andrew Peterson because he has a long track record of selling property in Victoria Park Perth. I found him trustworthy, thorough and has excellent communication skills. He gave realistic assessment at all times so my home sold relatively quickly compared to others in my neighbourhood who have been given pie in the sky appraisals. I recommend Andrew to sell your home.” Brone

“Highly recommend Andrew as an agent who does what he says, knows his craft and we benefited from his advice. A knowledgable and experienced agent, who achieved a successful sale in difficult times.”

M. Teo

Margaret

IF YOU WOULD LIKE TO KNOW WHAT YOUR PROPERTY IS WORTH IN TODAY’S MARKET, PLEASE CALL ME TODAY FOR AN OBLIGATION FREE APPRAISAL Andrew Patterson Senior Sales Exectuve

0401 076 690 andrew@bourkes.com.au If you’d prefer to receive this report by email, please email me your details.

845 Albany Highway EAST VICTORIA PARK | 9470 7444 | bourkesinthepark.com.au Connect with Bourkes /bourkesinthepark

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Bourkes Market Report - Saint James - March 2018 Quarter  

By Andrew Patterson

Bourkes Market Report - Saint James - March 2018 Quarter  

By Andrew Patterson