South Perth Market Update - Winter 2017

WINTER 2017

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

MARKET

UPDATE

WELCOME HOME OPEN NUMBERS ARE UP! Most sales people and agents are reporting better viewing numbers at their home opens. Previously we saw an average of 3 per home open. This has doubled in the last month. On one home open recently, we had 40 groups through!

In addition to this, we are seeing multiple offers on the same property.

What buyers have realised is that: 1.

It is the time to buy

2.

Finance is cheap

3.

It’s getting harder to find the right property

MARKET FACTS

The decision is being made by many owners to sell first, allow enough time to find another and then settle on theirs. Others are happy to rent once they have sold so they can put in a cash offer and beat other offers which involve finance or subject sales.

As always, if you are thinking of buying or selling or would like a current market appraisal, please call us on the numbers below.

Steven Webster 0413 310 330

Kathryn Perin 0405 709 763

(JUN QTR 2017)

VOLUME OF SALES - BY TYPE HOUSES

29

APARTMENTS

44

LAND

3

VILLAS

2

TOWNHOUSES

8

HOUSE SALES

219

86

FOR SALE

GONE

APARTMENT SALES

Highest Sale

$4,000,000

Highest Sale

$1,600,000

Lowest Sale

$750,000

Lowest Sale

$260,000

Average Sale

$639,000

Median Sale

$548,000

Average Sale Median Sale

$1,165,000 $958,000

(Source REIWA as at 26/07/2017)

FINANCE UPDATE At its latest meeting on the 1st August 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 (JUN 2017 QTR) Gone

Mill Point Rd SOUTH PERTH $358,000 2x1x1

Gone

41/26-28 Charles St SOUTH PERTH POA 3x2x2

Selling

2A Albert St SOUTH PERTH Offers Above $1.89M 4x2x2

Selling

6/128 Labouchere Rd SOUTH PERTH Mid $800’s 3x2x2

Selling

2/40 Hampden St SOUTH PERTH From $1,050,000 3x2x3

Gone

Ranelagh Cres SOUTH PERTH $1.925M 4x3x4

Gone

Arlington Ave SOUTH PERTH $920,000 4x2x2

Selling

18 Coode St SOUTH PERTH Auction (unless sold prior) Land

Selling

1/128 Labouchere Rd SOUTH PERTH Above $848’s 3x2x2

Selling

15/15 Melville Pde SOUTH PERTH From $349,000 1x1x1

Gone

Canning Hwy SOUTH PERTH $330,000 3x1x1

Gone

Hardy St SOUTH PERTH $700,000

3x2x2

Selling

31/39 Hurlingham Rd SOUTH PERTH From $349,000 2x1x1

Selling

6/27 Hardy St SOUTH PERTH Mid $600’s 3x2x2

Selling

1201/30-34 Charles St SOUTH PERTH From $588,000 1x1x1

We had 3 reps in and we were really impressed with Steven’s

“The transition from one home to another came with stressors, deadlines and decisions, however Kathryn was able to support us and enable us to manage this seamlessly. She was always available, efficient and professional. Kathryn understood our needs and was always supportive. She often went beyond what we would have expected and this was greatly appreciated.

We would recommend her services without hesitation.”

marketing strategy to

maximise our chances of a great price in this hard market, we ended up getting over 40k more than the other reps thought we would get.

A & S Duryea

“We had another rep selling our property for nearly 6 months, Steven was referred to us by a friend and when we had finished speaking with him we had a better idea of how our property should be marketed and sold it within 2 months of him taking over the listing and we couldn’t be happier. We have sold another property through him since.”

Paul and Cindy

Rose & Peter

IF YOU WOULD LIKE TO KNOW WHAT YOUR PROPERTY IS WORTH IN TODAY’S MARKET, PLEASE CALL US TODAY FOR AN OBLIGATION FREE APPRAISAL

Steven Webster

SALES EXECUTIVE 0413 310 330 steven@bourkes.com.au

Kathryn Perin

SALES EXECUTIVE 0405 709 763 kathryn@bourkes.com.au

If you’d prefer to receive this report by email, please email me your details.

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