WA Perth Market 2017

I feel like we may be somewhere near bottom. Houses are selling but prices are soft. I went to an open house on the weekend and there was another couple there. I have not seen that for a long time. There doesn't seem to be any signs of a turn around yet.

 

Went to a home open in East Vic Park - at least six couples there while we were looking. Agent rang later in the days to see if we were interested as they apparently had offers

 

Of coarse they did

 

Latest auction results
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• 0 sold prior to auction
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• 2 withdrawn
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Auction Results Perth, WA - Latest Weekend Results

Is there a better place to see past sales?

 

Search perth - greater region on realestate.com.au and sort by most recent. Very few houses sell in Perth by auction

 

I'd say its past the bottom. Corelogic index is showing 3 months of consecutive gains and a definite quarterly growth in 3 days. Over the last quarter, Perth has been the second best performing market after Melbourne.

A friend is moving from Melb to Perth and looking to buy inner city, keeping an eye on the market over the last 6 months. He reckons he's already missed the bargains that were around mid-year and will be paying more. If not just from advertised price, but the low-balling and odd bargain are pretty much off the table now for the areas he's looking at.

Listings for rentals and purchases have been flying down since July and are at 2 year lows. Buyer activity is also up (not just seasonally but also compared to last year). A lot of major businesses are also starting to make plays in Perth.. Aussie Home Loans is opening 4 new offices, Stockland made $90m in acquisitions this month and larger tower developers are moving. People are shuffling their decks in to order.. there is definite behind the scenes activity heating up.

 

That makes sense. Winter is traditionally quiet for real estate. There are still open houses that a very quiet but I guess it depends on the area. I know other areas are selling with multiple offers.

 

Just a gut feeling - really didn't like the look and feel the first time and hubby was the same. Definetely fragmented. I've bought plants of different people in the suburb and taken my daughter to a couple of parties there so have seen a few different areas of it. My preference is Kingsley. Good primary schools, shops, butchers, coffee shop, etc. Access to train, main roads, etc good. Greenwood is cheaper I think but I don't like it as much. Maybe Padbury if in your price range. I know a few people in Heathridge and it seems ok but I don't know a lot about the suburb.

 

It's one of the least nicest streets. It's noisy and has commercial properties up the end of it. If I was looking in that area I'd look closer to the river. Lots of nice properties around the river in quiet streets, I'd get closer to them

 

I think that end of Bayswater has more of a Bassendean feel so the prices are close to Bassendean prices.

 

I can rent you a property in the area if you want to try before you buy! Hardy Rd

 

Agree with this.

 

Latest sales figures show Perth property prices may have finally bottomed out

 

If there is oversupply how can it be the bottom? Logically makes no sense?

 

EPA assessments good sign for WA economy

 

Been following asking rents around Joondanna, Tuart Hill, Balcatta for 90s style two bedroom units as a tenant just gave notice to vacate. Things not looking good.

 

How long has it been since you were looking for a tenant in that area?

 

Tough market in that area.

I would say $200-220/week would be the upper end of the current market.

What are your current tenants paying?

 

Not advertised yet as notice as tenant expecting to stay another 1-2 months but has informed us of their intentions.

 

We will probably be dropping rent $60 a week to $240 a week.

Boom time a friend was receiving $470 a week for their 2 bedroom unit. Now $270.