WA Perth market 2019

Thanks for the info.
Not really looking for reno; mostly newish to lets say 20% reno. Obviously want the land-size be bigger so that the the house does not loose value suddenly. I heard Floreat primary school is one of the best in WA so that is the biggest attraction to be in that area as the kid will be going to school in 2 years. That is something can't really compromise with. Also overall the the area should be peaceful/low crime rate; preferably 2 storey house. I like mount Claremont but don't think it is any good school catchment area. I might be wrong.

 

I've heard good things about both Claremont and Floreat primary schools. As for secondary, all of Claremont and most of Floreat is within the Shenton College catchment, so you're covered there as well. I'm no expert but I have been looking around Perth for a while and have noticed the "quality" of the residents in the western suburbs do appear a lot higher.

 

I’m not an expert but I would consider all the primary schools in the neighbouring areas would also be excellent - including Wembley, Wembley Downs, Mt Claremont, Churchlands and Jolimont. I also think most of them have stable property prices. If you are looking ahead to High School - the suburbs would be in Churchlands, Shenton, or new Bob Hawke College catchment areas. I would try to buy at a price you can afford - which reduces the chance of needing to sell.

 

Perth Market Snapshot For The Week Ending | 3 November 2019 | REIWA

Perth market snapshot for the week ending 3 November 2019

04 November 2019

Sales activity decreased slightly by 0.7 per cent in Perth this week, with REIWA members reporting 639 transactions compared to 649 last week.

This slight decrease can be attributed to a 1.1 per cent rise in house sales, a 7.36 per cent decrease in unit sales and a 7.3 per cent decrease in vacant land sales over the week.

Listings for sale
There were 14,167 properties for sale in Perth at the end of this week, which is 0.4 per cent less than last week.

A closer look at listing stock levels shows house listings decreased by 0.7 per cent, units increased by 1.6 per cent and vacant land decreased by 1.5 per cent.

This week's total figure is 16 per cent lower than levels seen a year ago.

Perth rental market
REIWA members reported there were 5,912 properties for rent in Perth at the end of this week, which is 1.15 per cent less than last week.

This week's rental listings figure is four per cent lower than levels seen four weeks ago and are 18 per cent lower than levels seen a year ago.

Leasing activity remained steady with a 0.77 per cent increase in Perth this week, with REIWA members reporting 1,037 properties leased.

View our Perth Market Snapshot graph for a detailed breakdown of the past week.

 

Anecdotal information:
My Manning project went on market on Friday afternoon so didn't have a weekend home open but scheduled one for the evening tomorrow. Well the phones rang hot with people wanting to view it before then so the REA has already done 4 private viewings and 2 of those would like to put in offer in. All before the first home open. This project is going to auction but I am open to pre-auction offers and will sell it early if the price is right.

 

a close friend just listed a few properties; river front unit, and a development site near Glendalough Station.

The unit sold before it even hit the market, decent price for the current market but genuinely surprised by how fast it sold. The development site is a cracker, huge potential and very competitively priced but its getting crickets. From the outside it does seem that properties with strong current cashflow are hotting up.

 

@JL1 If you don't mind me asking, what is the address for the site ? cheers!

 

PM'd

 

Perth's Rental Market Continues To Stabilise | REIWA

Perth's rental market continues to stabilise

08 November 2019

For the second quarter in a row, Perth’s rental market has continued to improve with the vacancy rate lowering to 2.5 per cent, 172 suburbs recorded an increase in leasing activity and 110 suburbs recorded an increase in median weekly rent.

REIWA Deputy President, Lisa Joyce said Perth’s rental market appears to be building on the momentum of the latter half of 2019.

“This is very encouraging – not just for the rental market, but also for the overall property market as historically, the sales market follows the rental market during a recovery,” Ms Joyce said.

Median rent prices
While 110 suburbs recording an increase in median rent price, there were 117 suburbs that saw no change with reiwa.com data showing Perth’s overall median rent remains at $350 per week.

“With only seven more suburbs separating the two, we can see how close we are to potentially seeing an increase in Perth’s overall median rent price, which will be the first time since April 2017,” Ms Joyce said.

“From a suburb level, reiwa.com data shows that Madeley had the biggest growth for the quarter with an increase of $25 per week, Munster closely followed with a $23 increase, then Cannington, Carlisle and Carramar which all saw an increase of $20 per week.

Leasing activity
There were 13,356 rental properties leased in Perth during the September quarter, which is 12 per cent more compared to the previous quarter.

“All six Perth sub-regions saw an improvement in leasing volumes, with the biggest improvements occurring in Mandurah (up 21 per cent), Inner region (up 18 per cent) and South West region (up 16 per cent),” Ms Joyce said.

“At a suburb level, reiwa.com data shows Riverton, Dudley Park, Success, Como and Mullaloo saw the biggest growth in leasing activity levels over the quarter.”

Listings for rent
Rental listings declined 17 per cent during the quarter, with 6,169 listings recorded at the end of the September 2019 quarter.

“From an annual perspective listings are down 19 per cent and on average are taking six days less to lease. With the vacancy rate at 2.5 per cent and listings continuing to lower, we could see more pressure put on the rental market which will lead to an increase in Perth’s overall median rent price,” Ms Joyce said.

“With the Perth rental market finally starting to re-balance, now is a good time for tenants to secure their new rental or look into a longer-term lease before rents potentially rise.”

 

Received a text from a REA regarding two properties he sold last week, he was surprised with result as he got 3-4% over his expectations.

 

Perth market snapshot for the week ending 10 November 2019
NEW
11 November 2019


Sales activity increased five per cent in Perth this week, with REIWA members reporting 664 transactions.

This increase can be attributed to a three per cent rise in house sales, a 10 per cent rise in unit sales and a 10 per cent rise in vacant land sales over the week.

Properties for sale
There were 14,246 properties for sale in Perth at the end of this week, which is one per cent more than last week.

A closer look at listing stock levels shows house listings increased by one per cent, listings for units increased by one per cent and listings for vacant land decreased by one per cent.

This week's total figure is three per cent higher than levels seen four weeks ago and are 17 per cent lower than the same time last year.

Perth rental market
REIWA members reported there were 6,131 properties for rent in Perth at the end of this week, which is four per cent more than last week.

This week's rental listings figure is one per cent lower than levels seen four weeks ago, and are 17 per cent lower than levels seen a year ago.

Leasing activity decreased eight per cent in Perth this week, with REIWA members reporting 944 properties leased.

View our Perth Market Snapshot graph for a detailed breakdown of the past week.

 

The Perth suburbs with best median house price growth

Because we all know how median price is a great indicator for “real value growth”

 

Not a lot within this weeks report but will post anyway.

Perth Market Snapshot For The Week Ending 17 November 2019

Perth market snapshot for the week ending 17 November 2019
NEW
18 November 2019

Sales activity decreased one per cent in Perth this week, with REIWA members reporting 648 transactions.

This decrease can be attributed to a two per cent rise in house sales, a five per cent rise in unit sales and a 35 per cent fall in vacant land sales over the week.

Properties for sale
There were 14,330 properties for sale in Perth at the end of this week, which is one per cent more than last week.

A closer look at listing stock levels shows house listings increased by one per cent, listings for units decreased by one per cent and listings for vacant land increased by one per cent.

This week's total figure is two per cent higher than levels seen four weeks ago and are 18 per cent lower than the same time last year.

Perth rental market
REIWA members reported there were 6,182 properties for rent in Perth at the end of this week, which is one per cent more than last week.

This week's rental listings figure is one per cent lower than levels seen four weeks ago, and are 16 per cent lower than levels seen a year ago.

Leasing activity increased in Perth this week, with REIWA members reporting 994 properties leased. This is three per cent less than four weeks ago and 10 per cent less than the same time last year.

 

I've just had my IP leased by a new tenant for a $25 rent increase to meet market rental value ($325 - was previously $300)

 

Perth market snapshot for the week ending 24 November 2019
NEW
25 November 2019


Sales activity remained stable in Perth this week, with REIWA members reporting 647 transactions compared to 648 the previous week.

This decrease can be attributed to a five per cent fall in house sales, a six per cent rise in unit sales, and a 45 per cent rise in vacant land sales over the week.

Properties for sale
There were 14,398 properties for sale in Perth at the end of this week, which is in line with last week.

A closer look at listing stock levels shows house listings remained stable, listings for units decreased by one per cent and listings for vacant land increased by two per cent.

This week's total figure is one per cent higher than levels seen four weeks ago, but are 19 per cent lower than levels seen a year ago.

Perth rental market
REIWA members reported there were 6,160 properties for rent in Perth at the end of this week, which is in line with last week.

This week's rental listings figure is three per cent higher than levels seen four weeks ago, but are 16 per cent lower than levels seen a year ago.

Leasing activity increased one per cent in Perth this week, with REIWA members reporting 1,003 properties leased.

View our Perth Market Snapshot graphfor a detailed breakdown of the past week.

 

JLL November 2019 Perth housing market overview

 

Hey Westminster, I saw that it sold - congratulations, its a beautiful house (if its the one I think).
Did you get a reasonable price for it? Much interest?

 

Perth market snapshot for the week ending 1 December 2019
NEW
02 December 2019


Sales activity remained stable in Perth this week, with REIWA members reporting 683 transactions compared to 647 the previous week.

This increase can be attributed to a 26 per cent rise in vacant land sales and a five per cent rise in house sales, despite a two per cent fall in unit sales and over the week.

Properties for sale
There were 14,044 properties for sale in Perth at the end of this week, which is two per cent less than last week.

A closer look at listing stock levels shows house listings decreased by three per cent, listings for units decreased by three per cent and listings for vacant land decreased by two per cent.

This week's total figure is one per cent lower than levels seen four weeks ago and are 20 per cent lower than levels seen a year ago.

Perth rental market
REIWA members reported there were 6,022 properties for rent in Perth at the end of this week, which is two per cent less than last week.

This week's rental listings figure is two per cent higher than levels seen four weeks ago but are 17 per cent lower than levels seen a year ago.

Leasing activity decreased two per cent in Perth this week, with REIWA members reporting 981 properties leased. Leasing activity has continued a downwards trend in 2019 with a weekly average of 1,003 leases per week, down five per cent from 2018.

Lower leasing levels reflect the slowdown in population growth.

View our Perth Market Snapshot graph for a detailed breakdown of the past week.

 

Perth dwelling value records first rise since April 2018

Perth Dwelling Value Records First Rise Since April 2018 | REIWA

02 December 2019

CoreLogic’s November Home Value Index has revealed that Perth’s dwelling value has increased 0.4 per cent in the last month – the first increase in over 18 months.

REIWA President Damian Collins said that while the rental market has been the highlight of 2019 due to steady leasing activity levels and a plummeting vacancy rate, we are now starting to see the flow on effects to the sales market.

“With the latest figures from CoreLogic show the first positive signs of improvements, reiwa.com data is also showing that Perth’s median price has stabilised, holding at $479,000,” Mr Collins said.

“Stock for sale has dropped significantly over this time last year and we are starting to see demand exceeding supply in some locations.

“Overall, the median sale prices are holding up well in Greater Perth with one in four suburbs seeing an increase in median price in November.”

The suburb to see the biggest spike in median was Floreat with a 3.1 per cent increase to $1.34 million. This was closely followed by Wembley, Willetton, Clarkson and Spearwood.

According to reiwa.com the average days on the market improved to 70 days compared to 79 in October.

“We are optimistic that we have reached the bottom of the market overall, however to be certain we would want to see a return to consistent growth,” Mr Collins said.

Perth rental market
Once again Perth’s rental market has seen signs of improvement with house median weekly rent prices rising $5 to $370 per week during November, while the overall median rent remained stable at $350 per week.

“reiwa.com data also found that one in four suburbs had an increase in median weekly rent, with Cottesloe increasing significantly by $13 to $863 per week,” Mr Collins said.

The top performing suburbs by median weekly rent price were Eglinton, Clarkson, Wannanup and Willetton which all saw increases by $10 per week.

“With the vacancy rate currently sitting at a low 2.4 per cent and listings for rent are 16 per cent lower than a year ago, we can hopefully expect see rent prices continue to increase,” Mr Collins said.

“Leasing activity has declined in November, however this is a trend we usually see as we near the end of the year and as sale activity traditionally picks back up in the first few months of the year, we should continue to see the rental market remain on an upward trend.”

 

https://www.perthnow.com.au/busines...k2Z1-u4R4Ku2ftBWFebtfTGz-Q5vxoj6khobs3C7EuTIs



Perth (possibly) the first plant on the left