Q2 Perth Property Update
Subiaco’s Buzzing Transformation City Council 2024 - 25 Budget Heritage
Subi Heritage: Prime Investment Subiaco Oval Erupts Your Home
The Rise of the Eco-Haven Your Dream Reno: Guide Reports Q2
Listing Report Sales Report Investor Report
Are you ready to unlock your property potential? We empower buyers, sellers, and investors with rich property insights to make smarter decisions. Our in-depth analysis helps you uncover hidden opportunities in the market, understand the speci fi c characteristics of your target area, and evaluate key trends that shape the market. With this knowledge, you can confidently navigate the property journey, whether you're searching for your dream home, seeking to maximise your sale price, or strategically building your investment portfolio.
Navigating a Market in Flux
I'm excited to share this comprehensive report on Subiaco's property market and vibrant community. This guide goes beyond basic data to provide a richer understanding, empowering informed decisions for residents, investors, and potential buyers like you.
Whether you're a seasoned investor or considering a move within Subiaco, this resource equips you with valuable insights. We delve into Q2 market activity alongside the factors that contribute to Subiaco's dynamic appeal. This includes exploring the in!ux of exciting new businesses and the potential impact of the recently approved city budget on upcoming initiatives.
For those interested in Subiaco's history, we analyse the value proposition of heritage properties, considering both their investment potential and their role in shaping the community's character. And with sustainability being a growing concern, the report explores the rising trend of Eco-homes, offering insights for those seeking an eco-friendly lifestyle.
Thinking of renovating your property? Don't miss our dedicated section packed with practical tips to transform your space into your dream home.
To complete the picture, we provide a clear overview of recent listing activity and median sales values, giving you a comprehensive understanding of Subiaco's real estate landscape.
I truly hope this report serves as your key to unlocking the possibilities that Subiaco holds. Explore market trends, discover local highlights, and gain valuable insights to understand Subiaco's evolving story.
There's so much to discover in this vibrant community, and I encourage you to delve a little deeper with me.
Sincerely,
Justin Dixon Property Consultant
Perth's property market continued its upward trajectory in Q2, with a 2% increase in June contributing to a substantial 23.6% annual gain. This outpaces the national average but re!ects a moderation from the breakneck pace observed in the "rst half of 2023, where quarterly growth peaked at 3.3%
Analysts attribute this ongoing growth to a key factor: limited housing supply. With fewer properties available, buyers are encountering a competitive landscape, pushing prices upwards even as headwinds like rising interest rates and cost-of-living pressures emerge. This dynamic creates contrasting experiences for those in the market:
• Sellers: The current market conditions favour sellers. The low inventory of available properties creates a competitive environment that may lead to achieving a good sale price. However, it's important to consider broader economic factors that could in!uence buyer sentiment in the future.
• Buyers: Finding a dream home in Perth's current market may pose a challenge. The tighter market with fewer listings can lead to "erce competition among buyers, potentially leading to bidding wars and driving prices higher. Additionally, rising property prices may impact affordability, particularly for "rst-time buyers struggling to save for a deposit.
Home Value Index
As at 30 June, 2024
Source: CoreLogic Home Value Index
The scarcity of available houses is particularly stark. The number of listings in Perth has dropped by a signi"cant 23% compared to the same period last year. This represents an even steeper decline when compared to the historical "ve-year average, with a remarkable 47% decrease.
Looking towards the future, positive indicators remain. Interstate migration to Western Australia continues to exceed historical levels, contributing to sustained housing demand. This is re!ected in Perth's national lead in house sales, exceeding historical averages by a signi"cant 29%. While robust migration is a positive sign for the market's long-term health, it also places continued pressure on housing supply in the short term.
Overall, Perth's property market exhibits ongoing growth alongside tightening market conditions. While this may bene"t sellers in the current climate, buyers may encounter increased competition and affordability concerns. Careful consideration of these trends and a long-term perspective are crucial for anyone navigating Perth's dynamic property market.
$250,000
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City Council 2024-25 Budget
Subiaco, once a charming yet predictable suburb, is shedding its skin and emerging as a dynamic destination that tantalises the senses. This exciting metamorphosis caters to a diverse clientele, offering a captivating blend of culinary delights, invigorating "tness experiences, and a touch of urban chic.
Foodies are in for a treat with the impending arrival of Larry's Charcoal Chicken at ONE Subiaco Market. Their unique charcoal-roasted !avours promise to add a smoky, succulent dimension to the local dining scene. Complementing this newcomer is the established Commune Wine Store, a haven for discerning wine lovers seeking a curated selection of exceptional vintages. Whether you're a seasoned connoisseur or just embarking on your wine exploration, Commune's knowledgeable staff is there to guide you on your !avourful journey.
For the " tness enthusiasts, S30 gym offers a revolutionary approach to exercise. Forget monotonous routines; S30's high-intensity, music-driven workouts
are designed to push you to your limits and leave you feeling exhilarated. After conquering your workout, refuel at the conveniently located Roby Café on Rokeby Road. This charming cafe is the perfect pitstop to replenish your energy stores with a delicious and refreshing beverage before tackling the rest of your day.
Those seeking a sharper aesthetic can put their trust in the skilled barbers at Captain Barber, situated on the corner of Rokeby and Bagot Road. Their dedication to personalised haircuts ensures you leave feeling con"dent and ready to turn heads. Whether you're looking for a trendy fade or a classic trim, Captain Barber has the expertise to craft the perfect style to match your personality.
But Subiaco's evolution extends beyond its current offerings. Hay Street is abuzz with anticipation for the arrival of FOUND, a renowned craft brewery. Celebrated for its exceptional brews, FOUND promises to become a vibrant social hub. Imagine evenings spent with friends, enjoying a cold, handcrafted beer while soaking up the atmosphere of this burgeoning craft beer scene. Stay tuned for further details in the coming weeks and months as FOUND prepares to transform this neighbourhood into a must-visit destination.
This is just a taste of the exciting changes sweeping through Subiaco. With a growing number of establishments setting up shop, Subiaco is poised to become a premier destination for those seeking a vibrant blend of culinary delights, invigorating "tness experiences, and a touch of urban chic. From indulging your taste buds to sculpting your physique and re"ning your image, Subiaco offers a captivating experience that caters to a diverse range of interests. Whether you're a local resident or a visitor exploring Perth, Subiaco's ongoing transformation is sure to leave you wanting more.
The City Council approved the 2024-25 budget recently, re!ecting a commitment to "scal responsibility while prioritising essential services and infrastructure development. The budget features a modest rate increase of 1.9% for the third year running, maintaining affordability for residents. Notably, the minimum rate stays at $1190, a testament to the council's focus on minimising the impact on household budgets despite ongoing in!ationary pressures.
Mayor David McMullen underscored the council's dedication to delivering high-quality services and planning for the city's future, all while keeping affordability in mind. He emphasised the balanced approach to managing income and expenditure, ensuring long-term sustainability and prosperity. The budget, according to the Mayor, provides value to residents and allows for maintaining, and in some cases, improving, essential services and amenities.
While some cost increases are unavoidable, the council has taken steps to mitigate their impact. Waste service fees will rise by $51 due to state-mandated land"ll -
charges and rising costs associated with transportation, processing, and infrastructure. To address this, the council explored cost-saving measures wherever possible.
The budget also acknowledges the importance of a robust emergency response system. The Emergency Services Levy (ESL) will increase by 4.3%, a levy collected by local governments to support "re and emergency services across Western Australia.
Technology improvements remain a key focus area. The transformative TechnologyOne project aims to modernise the city's digital systems, streamlining manual processes and enhancing customer service through user-friendly software.
Looking beyond operational needs, the budget allocates a signi"cant $21.4 million towards capital works projects. This investment will support crucial initiatives such as road safety improvements, public realm upgrades, playground refurbishments, strategic tree planting programs, and the refurbishment of the Shenton Park Community Centre. These projects aim to enhance the overall quality of life for residents and ensure the city's infrastructure remains in good condition.
Led Zeppelin's Chaotic and Historic 1972 Debut in Australia
Photography by Annie Blair
Stroll down Rokeby Road, lined with its Victorian terraces and art deco facades, and you're not just experiencing Subiaco's unique charm – you're witnessing a hidden economic advantage. For decades, a question lingered: does preserving our heritage, with its focus on the past, actually bene"t our local property market? The answer, overwhelmingly supported by research, is a resounding yes.
Subiaco's character goes beyond aesthetics. Our historic buildings tell stories, fostering a strong sense of community that attracts residents who appreciate the rich tapestry of our past. This unique blend translates into a powerful draw for homebuyers, re!ected in our property values.
Think Subiaco's heritage is just about nostalgia? Think again. Studies across the globe show historic districts like ours experience signi"cant property value uplift. While research from the US highlights a 5-35% increase per decade within historic districts, a closer-to-home study at the University of Queensland provides even more compelling evidence. This research found vacant land in historic Brisbane areas sold at a 10-11% premium compared to similar plots outside those districts. Imagine the potential for Subiaco's own pockets of heritage!
So, what makes our historic pockets so desirable? Here's a look:
• Timeless Charm: Subiaco's heritage streetscapes offer a unique aesthetic experience. The architectural details and sense of stepping back in time are highly sought after, creating a premium compared to more generic suburbs.
• Strong Community Spirit: Our historic areas often foster a tight-knit community, drawn together by a shared appreciation for the past and a commitment to preserving it. This sense of belonging adds another layer of value for potential residents.
• Investment and Development Potential: Subiaco's heritage areas attract developers and investors who see the potential for high-end renovations or adaptive reuse of historic buildings. This anticipated future development can further increase property values within the district, creating a positive cycle.
It's important to acknowledge that preserving our heritage comes with considerations. Stricter regulations on renovations within historic districts might limit some modernising options. However, the bene"ts of living in a vibrant and charming historic area often outweigh these limitations for many residents.
The research is clear: Subiaco's commitment to heritage preservation plays a signi"cant role in boosting property values. This economic bene"t has a ripple effect, encouraging investment, revitalising our neighbourhoods, and contributing to Subiaco's overall economic health.
Moving forward, the key lies in striking a balance. We must continue to safeguard our architectural heritage and character. However, regulations can be reviewed to ensure ! exibility for responsible renovations that meet the needs of modern residents. This balance will allow Subiaco's historic areas to retain their charm while attracting a wider range of residents, ensuring our continued economic and cultural vibrancy.
Subiaco's heritage isn't just a source of pride – it's an investment in our collective future.
On a balmy February night in 1972, Subiaco Oval in Perth, Australia, became the unlikely epicentre of a rock and roll revolution. Led Zeppelin, the already legendary British band, had arrived for their "rst ever Australasian tour, and the anticipation was electric. With their "rst four albums dominating the Australian charts, Led Zeppelin wasn't just another band; they were a phenomenon. This Perth concert, however, would be remembered not just for the music, but for the sheer chaos that unfolded.
Led Zeppelin's rise to fame had been meteoric. Their heavy, blues-infused rock had captivated audiences worldwide, and Australia was no exception. All four of their albums, including the chart-topping Led Zeppelin II and III, had been massive hits down under. The excitement surrounding their arrival was palpable. However, a minor setback awaited them even before they reached Perth. A planned stopover in Singapore was cancelled due to the country's strict laws against long hair, a small hurdle for a band known for their rebellious image.
Undeterred, Led Zeppelin set their sights on Australia. Subiaco Oval, a stadium primarily used for cricket and Australian Rules Football, was chosen as the venue for their thunderous debut. The stage was set for a night of rock and roll history, but what transpired would be a story of rabid fans, police intervention, and a band determined to put on a show.
As the gates of Subiaco Oval creaked open on February 16th, 1972, a tidal wave of anticipation crashed down. Thousands of fans, many who couldn't secure tickets, swarmed the venue. Estimates suggest over 4,000 eager music lovers found themselves locked outside, their frustration mounting with every riff that echoed from within. The sheer volume of the crowd, desperate to witness Led Zeppelin's live performance, turned into a chaotic scene. Reports detail fans attempting to storm the locked gates, some throwing objects in their frustration. Police were called in to quell the growing unrest, a stark contrast to the electric atmosphere building inside the stadium.
Inside Subiaco Oval, the lucky ticket holders were experiencing a sonic baptism. Led Zeppelin, known for their powerful live shows, unleashed a torrent of rock that left the audience breathless. The raw energy of Jimmy Page's guitar solos, the thunderous drumming of John Bonham, the soaring vocals of Robert Plant, and the hypnotic bass lines of John Paul Jones created a musical vortex that transcended the walls of the stadium.
However, the pandemonium outside continued. Witness accounts, passed down through the years, paint a vivid picture of the evening. One fan recalls the "bikies storming the Townsend Rd gates and setting "re" in an attempt to create an entry point, allowing a surge of fans in during John Bonham's legendary drum solo on "Moby Dick." Another describes a more personal experience, with their brother perched on the roof of their house across the street, simply to catch a glimpse of the historic concert.
Set lists during this tour include:
Immigrant Song
Heartbreaker
Black Dog
Since I've Been Loving You
Stairway to Heaven
Going to California
That's the Way
Tangerine
Bron-Y-Aur Stomp
Dazed and Confused
Moby Dick
Whole Lotta Love (medley)
Despite the chaos outside, Led Zeppelin persevered, delivering a performance that cemented their reputation as one of the greatest live bands in the world. Reviews from the time were effusive, praising the band's raw power and onstage chemistry. While no recordings exist of the Perth concert itself, the rest of the tour was met with similar acclaim. Black and white footage from their Sydney show, captured by the Australian Broadcasting Corporation, offers a tantalising glimpse into the electrifying atmosphere of these early Led Zeppelin concerts. This footage, later released on the band's 2003 DVD, serves as a historical document of a pivotal moment in Australian music history.
The 1972 Australasian tour wasn't just a successful string of concerts; it was a cultural touchstone. Led Zeppelin's arrival marked a turning point for Australian rock music, exposing audiences to a new level of musical intensity and showmanship. The pandemonium at Subiaco Oval, though a logistical nightmare, became a part of the band's legend, a testament to the raw power of their music and the unwavering devotion of their fans. While the tour itself was brief, its impact on the Australian music scene reverberated for years to come, inspiring a generation of local musicians and forever etching Led Zeppelin's name in the annals of Australian rock history.
The story doesn't end with the electrifying concerts. The band's brush with authority added another layer to the legend of Led Zeppelin's Australian debut. Following the Perth concert, police raided the band's hotel room, reportedly waking them up and searching their belongings.
This heavy-handed approach left a sour taste in the band's mouth. Jimmy Page, ever the outspoken frontman, expressed his frustration to a local paper, calling the police actions "abusive" and "rude." This incident, though seemingly minor, fuelled the narrative of a band pushing boundaries and challenging the status quo, further solidifying their rock and roll rebel image.
The 1972 Australasian tour may have been short-lived, but its impact was undeniable. It was a baptism by "re for Led Zeppelin in Australia, a chaotic yet electrifying introduction that left a lasting mark. Subiaco Oval became a hallowed ground for Aussie rock fans, forever linked to the band's explosive arrival. The tour's legacy extends beyond just Led Zeppelin's career. It served as a catalyst for the Australian rock scene, inspiring future generations of musicians and forever etching Led Zeppelin's name in the hearts of Australian music lovers.
Led Zeppelin's 1972 Australasian tour wasn't just a concert series; it was a cultural phenomenon. The electrifying debut at Subiaco Oval, with its blend of musical brilliance and fan frenzy, became a cornerstone of Australian rock history. The tour's impact transcended the immediate excitement. Led Zeppelin's raw energy and showmanship exposed Australian audiences to a new level of rock and roll, inspiring a generation of local musicians. The band's music left an indelible mark, forever etched in the hearts of fans who witnessed this pivotal moment. Although the tour itself was brief, its legacy continues to resonate, a testament to the enduring power of Led Zeppelin and their explosive arrival down under.
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Forget granite countertops and sprawling lawns –the Australian homebuyer of today craves something more substantial. A recent report by Domain, a leading property website, reveals a fascinating trend: sustainability is trumping conspicuous consumption. Middle-income families are leading the charge, demanding eco-friendly abodes that prioritise the planet alongside comfort. This shift presents a crucial question for homeowners: is your property an eco-haven or a relic of a bygone era?
So, what exactly makes a home "green"? Imagine a haven designed for energy ef"ciency, translating to lower running costs – a win for both your wallet and the environment. While the initial investment for features like solar panels might be slightly higher, the long-term savings on electricity are signi"cant. The Domain report underlines this fact – homes with eco-friendly features generate a staggering 16% more interest from potential buyers. What's even more enticing? These sustainable havens tend to sell faster, spending 4% fewer days on the market compared to their traditional counterparts.
The statistics paint a clear picture: eco-conscious features are becoming the norm. Here's a glimpse into the not-so-distant future of Australian real estate:
Eco-Conscious Features Become Standard: Solar panels won't be a quirky selling point, but rather as commonplace as a freshly painted door. Homes lacking these features might struggle to "nd buyers, much like a party animal at a silent retreat.
Sustainability Pays a Premium: The Domain report suggests a signi"cant "nancial reward awaits those who embrace the green revolution. Eco-friendly houses could fetch a premium of up to $112,000, while ecoconscious units could command an impressive $70,000 extra.
Marketing Metamorphosis: Forget generic descriptions. Property listings will transform into love letters to the environment. Energy ef"ciency, water conservation, and the home's overall environmental footprint will take centre stage, with quanti"able bene"ts like cost savings becoming standard practice.
Homes with eco-friendly features generate a staggering 16% more interest from potential buyers.
Going Green: A Win-Win Proposition
The future of Australian real estate is undeniably green. By ensuring your home embraces sustainable features, you'll be well-positioned to attract the discerning eco-conscious buyer. This translates to a potentially swifter sale and a more satisfying return on your investment.
Taking Action: Making Your Home an Eco-Haven
There are several ways to get started. Consider a home inspection to identify areas for improvement, or consult a sustainable real estate specialist for expert advice. Remember, going green isn't just good for the planet, it's a future-proof strategy for the savvy homeowner. Embrace the green revolution and watch your home transform into a sanctuary for the environmentally conscious buyer of tomorrow.
Here are some cost-effective improvements to consider:
• Install low-!ow shower heads and faucet aerators.
• Switch to LED lighting throughout your home.
• Plant native, drought-resistant gardens that require minimal watering.
• Seal air leaks around windows and doors to improve insulation.
Remember, every little bit counts. By taking these steps, you can create a more sustainable and attractive home for potential buyers, all while reducing your environmental impact.
Ready to explore eco-friendly options for your home?
Australian Government Your Home website: This website provides information on government rebates and incentives for sustainable home improvements.
Nationwide House Energy Rating Scheme (NatHERS): NatHERS provides certi"cations for energy-ef"cient homes, allowing you to showcase your home's green credentials to potential buyers.
By following these tips and utilising available resources, you can transform your home into an eco-haven, attracting environmentally conscious buyers and ensuring your property remains competitive in the everevolving real estate market.
In the 1980’s the restoration of old homes and the construction of new residences contributed to Subiaco having the image of a ‘village’ within a city.
Time to refresh your home? Renovations can be a fantastic way to breathe new life into your living space, adding value, comfort, and functionality. But navigating the world of hammers and paint buckets can feel daunting, especially for "rst-timers. Fear not! This comprehensive guide will equip you with the knowledge and tools to tackle your renovation project with con"dence, whether you're revamping your personal haven or sprucing up an investment property.
Renovation Rehab: Weighing the Pros and Cons
Let's face it, renovations aren't all sunshine and rainbows. Before diving head"rst into demo day, it's crucial to weigh the potential bene"ts against the drawbacks. Here's a breakdown to help you decide if a renovation aligns with your goals:
On the Plus Side:
• Boosting Your Nest Egg: A well-planned renovation can signi " cantly increase your property's market value. Strategic upgrades, like adding an extra bedroom or bathroom, can be particularly lucrative investments. Think of it as an injection of cash for your future!
• Creating Your Dream Oasis: Does your kitchen resemble something out of a 70s sitcom? Perhaps your bathroom feels more dungeon than spa retreat? Renovations present the perfect opportunity to transform your living space into a haven that re!ects your unique style and caters to your lifestyle needs. Picture yourself whipping up culinary masterpieces in a modern kitchen or indulging in a spa-like retreat in your luxurious new bathroom.
• Saving a Pretty Penny: In a competitive property market, "nding the perfect home can be a challenge (and expensive). Renovations can be a more cost-effective alternative. Imagine customising your existing space to suit your needs instead of the hefty costs associated with selling and buying – agent fees, stamp duty, and moving expenses can all add up quickly!
The Flip Side of the Coin:
• Budget Blues: Renovation projects have a knack for encountering unexpected surprises, which can lead to budget blowouts. Hidden structural problems, unforeseen plumbing or electrical issues, and rising material costs can all derail your initial "nancial plan. Be prepared for potential curveballs!
• Lurking Liabilities: What seems like a straightforward renovation might unearth hidden problems lurking beneath the surface. Outdated plumbing or electrical systems may require attention to ensure safety and functionality, adding unforeseen expenses to your project. Think of it like discovering a surprise visitor in your walls – not the kind you want!
• ROI Roulette: While renovations can increase value, there's no guarantee they'll translate into a dollar-fordollar return, especially in a stagnant property market. Conduct thorough market research to understand current trends and buyer preferences in your area before embarking on extensive renovations. Don't renovate in a vacuum – research is key!
Planning Makes Perfect: Budgeting and Beyond
Now that you've weighed the pros and cons, let's delve into the nitty-gritty of planning and budgeting. Here are some key factors to consider when shaping your renovation roadmap:
The Cost Equation: Renovation Factors Down Under
Just like that perfect cup of coffee, the cost of a renovation in Australia can vary depending on several ingredients:
cantly depending on where you live. Major cities like Sydney and Melbourne typically have higher labor rates, material costs, and competition for quali"ed tradespeople compared to regional areas. Think of it like a Sydney Harbour view coming with a hefty price tag!
• The Tradie Tango: Experienced and highly sought-after tradies will command higher rates than those with less experience. Obtaining quotes from multiple tradespeople allows you to compare rates and quali"cations. Don't be afraid to shop around – it can save you a bundle!
• Scope of the Project: The complexity of your renovation project signi"cantly impacts the budget. A minor kitchen refresh involving a paint job and new hardware is a far cry from a complete overhaul that includes rewiring, plumbing modi"cations, and installing all-new cabinetry and appliances. Think big or small, but be realistic about the associated costs.
• Property Age: Older properties are more likely to require additional repairs and may have hidden issues that can in!ate the budget. Be prepared for the possibility of encountering problems like outdated wiring, asbestos, or structural weaknesses. Don't get caught off guard by lurking gremlins in your walls!
While the allure of DIY projects to save on costs is undeniable, it's crucial to prioritise safety and select tasks that align with your skillset. There's a world of difference between a weekend warrior and a licensed professional.
When it comes to complex electrical work, plumbing modi"cations, or structural alterations, prioritise safety and delegate these tasks to quali"ed professionals. Think of them as the superheroes of the renovation world! Licensed tradespeople possess the in-depth training, experience, and certi"cations to handle intricate tasks with "nesse. Their expertise ensures your renovation adheres to building codes and safety regulations, preventing potential hazards and costly rework down the road. Imagine the peace of mind that comes with knowing your electrical wiring is up to code or your plumbing won't develop a surprise leak weeks later. By entrusting these crucial jobs to quali"ed professionals, you're not only saving yourself time and frustration, you're investing in the safety and long-term value of your home.
The bene"ts of hiring quali"ed professionals extend far beyond just safety and code compliance. Reputable tradespeople typically offer warranties on their work, providing a safety net in case of unforeseen issues. This warranty acts like insurance, giving you peace of mind and protecting you from unexpected "nancial burdens in the event of problems arising after the project's completion. Furthermore, quali"ed professionals can often source high-quality materials at trade discounts, potentially offsetting some of the initial labor cost. Their expertise can also help identify and avoid costly mistakes during the renovation process, ultimately saving you money in the long run.
While it's impossible to provide an exact cost due to the variables mentioned above, here's a handy table to give you a general idea of renovation costs in different areas of Australia. This will help you establish a preliminary budget and avoid sticker shock:
$20-35,000
$40-60,000
+ Bathroom
$8-16,000
$25-35,000
$35,000 + Living/dining/rumpus…
$3-5,000
$5-15,000
$20,000 + Bedrooms
$1-4,000
Courtyard/ garden
$4-6,000
$6,000 +
$1-5,000 $5-10,000 $10,000 +
Now that you've explored the pros and cons, considered budgeting factors, and learned the importance of quali"ed tradespeople, let's delve into the steps that will guide you towards a successful renovation:
1. De!ne Your Scope: Clearly outline the speci"c areas you intend to renovate and the desired outcome for each space. Mood boards and inspiration lists can be helpful tools for visualising your goals. Think Pinterest boards and magazine clippings – create a vision for your dream reno!
2. Gather Your Tradie Brigade: Obtain quotes from at least three quali"ed tradespeople for each project. Don't be afraid to negotiate and inquire about their experience with similar projects. Ask if they offer warranties on their work – it's always a good sign!
3. Financing Finesse: Explore "nancing options to cover the cost of your renovation. Depending on the project's scale, this could involve dipping into your savings, re"nancing your existing mortgage, taking out a personal loan, or utilising a credit card (use credit cards responsibly though!). Carefully consider the interest rates and repayment terms associated with each option. Don't get caught in a "nancial trap – plan your "nancing wisely!
4. Embrace the Unexpected: Allocate a contingency fund (around 10% of your budget) to cover unforeseen issues that may arise during the renovation. Think leaky pipes or hidden electrical nightmares! This will help you avoid "nancial stress if unexpected repairs become necessary.
5. Finalise Your Budget: Factor in quotes, "nancing costs, and contingency funds to determine your "nal renovation cost. Having a clear budget will help you make informed decisions throughout the project and avoid overspending. Don't let your reno project turn into a budget black hole!
With these steps and the following sections on clever savings strategies and the power of design, we'll be well on our way to creating a comprehensive guide to a successful renovation!
Now you've got the roadmap laid out, but renovations can be expensive! Luckily, there are clever strategies you can employ to save money and stretch your renovation budget further:
• Become a Demolition DIYer: Consider tackling some of the demolition work yourself. Removing old cabinets, !ooring can be a great way to save on labor costs. Just be sure to disconnect utilities safely before diving in and don't hesitate to hire a professional if you're unsure about any aspect of the demolition process.
• Salvage and Repurpose: Give hidden treasures a new lease on life! Look for opportunities to salvage and repurpose existing features in your home. This could involve re hardwood !oors, up cycling vintage cabinet hardware, or transforming a clawfoot bathtub into a statement piece.
• Embrace Imperfections: Don't shy away from using imperfect materials! Reclaimed wood, for instance, adds character and charm at a fraction of the cost of pristine lumber. Exposed brick walls or imperfections in concrete can also add a unique industrial feel.
• Think Outside the Retail Box: Skip the fancy showrooms and explore alternative sources for materials. Habitat for Humanity ReStores often have high-quality salvaged building materials at a fraction of the retail price. Architectural salvage yards can be a treasure trove for unique "nds, and online marketplaces offer pre-owned "xtures and appliances.
• DIY What You Can: If you're handy, consider tackling some of the simpler tasks yourself, like painting, installing hardware, or laying tile. Just be realistic about your skillset and don't hesitate to hire a professional for anything that's beyond your expertise. A botched DIY project can end up costing you more in the long run.
By following these tips, you can transform your renovation dreams into a reality, all without breaking the bank. In the next section, we'll explore the power of design in helping you achieve a beautiful and functional space that stays within your budget.
Even with a tight budget, design doesn't have to be an afterthought. A well-considered design plan can help you maximise space, prioritise functionality, and create a beautiful aesthetic that re!ects your style. Here's how design can be your budget-friendly renovation superpower:
• Space Planning Smarts: A good design plan optimises the use of your space. This could involve rearranging furniture layouts, incorporating clever storage solutions, or even knocking down non-load-bearing walls to create a more open and airy feel. By maximising the functionality of your space, you might "nd you can live comfortably without needing to splurge on extra square footage.
• Multi-Functional Marvels: Think beyond single-purpose furniture! Opt for pieces that serve multiple functions, like ottomans with storage compartments or a sofa bed that provides guest sleeping arrangements. This strategic furniture selection allows you to achieve the desired functionality without needing a whole new set of pieces.
• The Power of Paint: A fresh coat of paint can dramatically transform a space and is a relatively inexpensive way to add personality. Consider using bold accent walls or explore the psychology of colour to create a desired mood. Don't underestimate the transformative power of paint!
• Décor on a Dime: When it comes to décor, think thrifted "nds, !ea market treasures, or DIY projects. You can unearth unique pieces that add character and personality to your space without a hefty price tag. Repurposing everyday objects or showcasing artwork created by yourself or loved ones can also add a personal touch and save on costs.
• Lighting Magic: Strategic lighting can make a big difference in the ambience and functionality of your space. Utilise natural light whenever possible and consider layering task lighting and ambient lighting to create a welllit and inviting atmosphere. This can help you avoid the need for excessive "xtures, saving on both initial cost and energy consumption in the long run.
By following these design principles, you can create a beautiful and functional space that re!ects your unique style, all while staying within the con"nes of your budget. Remember, with a little creativity and resourcefulness, you can achieve your renovation goals without sacri"cing aesthetics or functionality.
The Final Touches: Project Management and Communication is Key
With a plan in place and budget in mind, it's time to turn your vision into reality. Here's where project management and clear communication become crucial for a successful renovation:
• Project Management Prowess: Create a detailed schedule outlining the different stages of the renovation and designate timelines for each project phase. This will help you stay on track and avoid delays that can lead to cost overruns. Utilise project management tools or even a simple calendar to keep yourself organised and ensure a smooth work!ow.
• Communication is King: Maintain open and consistent communication with your tradies. Clearly outline your expectations and don't hesitate to ask questions throughout the process. Regularly scheduled meetings will help ensure everyone is on the same page and can identify and address any potential issues promptly.
• Embrace Flexibility: While a plan is essential, be prepared for unforeseen circumstances. Unexpected discoveries during demolition or material delays can happen. The key is to stay !exible and work with your tradies to "nd solutions that minimize disruption and stay within budget.
• The Power of Documentation: Keep meticulous records of all receipts, invoices, and contracts. This will not only help you manage your budget effectively but also serve as a reference point if any disputes arise during the renovation.
By following these "nal steps and prioritising clear communication and project management, you can ensure a smooth renovation process and minimize the potential for stress and unexpected costs. Remember, a successful renovation is all about planning, resourcefulness, and collaboration. With the right approach, you can transform your home into a beautiful and functional space that re!ects your style and stays within your budget. So get creative, embrace the challenge, and happy renovating!
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Up to $999,000
$1,000,000 - $1,999,999
$2,000,000 + Up to $300,000
$301,000 - $699,999
$700,000 - $999,999
$1,000,000 - $1,999,999
$2,000,000 +
Did you know?
Source: CoreLogic
Laurino Terrace was named after a variety of olive tree which has been planted within the Subi Centro estate.
67 Available In The Past Month 6.0% Rental Yield
1,485 Renters Interested 9.1% Past 12 Month Growth
454 Leased In The Past 12 Months
With a keen eye for opportunity and a global perspective honed over 25 years, Justin serves as your trusted advisor, ensuring you navigate the everevolving property market with confidence. Leveraging a unique blend of digital marketing expertise, contract law knowledge, and skilled negotiation tactics, Justin tailors insightful analysis to your specific goals, whether you seek the charm of a heritage property, the comfort of an established dwelling, or the modern appeal of an o"-plan apartment.
As an accredited REIWA Selling and Buyers Agent with a proven track record, Justin possesses the knowledge and experience to confidently navigate the market on your behalf. A dedicated industry advocate and member of the REIWA Sales and Buyers Agent Network Commi!ee, Justin actively helps contribute to best practices within the state, ensuring you benefit from the latest market knowledge and insights.
But what truly sets Justin apart is the measurable advantage he provides clients. Having been fortunate enough to practice in international markets, Justin has gained a unique insight into elements of the transaction that are often overlooked by others. This translates to strategic guidance that empowers you to make informed decisions and achieve superior outcomes, whether you're buying, selling, or investing in WA property.
For homeowners, Justin understands the importance of securing the most value from your sale and seamlessly transitioning to your next dream home. He'll be by your side throughout the entire process, ensuring a smooth and successful outcome.
By choosing Justin, you gain a trusted advisor with a global perspective, maximising your opportunity to achieve superior results in the WA property market.
Listings Report
RP Data ‘On The Market Report’ (Subiaco: Period from April 1st 2024 - June 30th 2024)
Sales Report
RP Data ‘Sales History Report’ (Subiaco: Period from April 1st 2024 - June 30th 2024)
Investor Report
RP Data ‘Rental Comparison Report’ (Subiaco: Period from April 1st 2024 - June 30th 2024)
Average Vendor Discount
The average difference between the "rst and last advertised price or contract price (were provided) on a property, within the speci"ed region. Auction listings and listings without advertised prices are excluded from the calculation.
The number of properties that have been advertised For Rent and captured by CoreLogic within the speci"ed region. Only those rental listings which Corelogic has been able to match to an address within its database of property information have been included in this metric.
City of Subiaco – Street Names
Information about street names in this document was sourced by the Geographic Names Committee at the Department of Land Administration, practicum students from Curtin University and volunteer researchers at the City of Subiaco. The document covers former and existing streets within the City of Subiaco from information available in July 2016.
The number of properties that have been newly advertised For Sale and captured by CoreLogic within the speci"ed region. A new listing is one that hasn’t been previously advertised across any monitored source. Only those listings within CoreLogic has been able to match to an address within its database of property information have been included in this metric.
The average number of days properties are actively listed, within the speci"ed region. The Days on Market calculation compares the "rst advertised date with either the advised contract or withdrawn date on the property to calculate this metric.
The number of properties that have had a sale provided by a source other than a government authority within the speci " ed region. Nongovernment sources include real estate agents and agencies, advertised portals and results collected via auction reporting. Only those sales which CoreLogic has been able to match to an address within its database of property information have been included in this metric.
The number of for sale or for rent properties that have been withdrawn from the market and captured by CoreLogic, within the speci"ed region. Only those sales or rental listings which CoreLogic has been able to match to an address within its database of property information have been included in this metric.
While every effort is made to ensure the information provided is up-to-date, Bellcourt cannot guarantee the absolute accuracy or comprehensiveness of the data and information contained within this publication. To the fullest extent permitted by law, Bellcourt excludes all liability for any loss or damage arising from the use of the data and information in this publication.
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