WA Perth Market 2021

A guy I know is chasing 20 + workers for his business (specific qualifications & experience required) recently he's had 7 larger companies ask him to supply workers also as a number of their employees are stuck in NSW..he can't do it

I've seen a number of recent examples where people are getting qualifications and getting into jobs at present with no experience, supply & demand

 

Anyone knows what this went for?
https://www.realestate.com.au/property-house-wa-morley-136406546

 

Perth Market Snapshot for the week ending 27 June 2021
NEW
28 June 2021
(Full article here Perth Market Snapshot | 27 June 2021 | REIWA )

Sales activity increased three per cent in Perth last week, with REIWA members reporting 896 transactions.

This increase can be attributed to a one per cent decline in house sales, a one per cent increase in unit sales and a 52 per cent increase in vacant land sales.

Properties for sale

There were 8,953 properties for sale in Perth at the end of last week, which is one per cent less than the previous week.

Last week's total figure is three per cent lower than four weeks ago and 19 per cent lower than a year ago.

Perth rental market

REIWA members reported there were 2,819 properties for rent in Perth at the end of last week, which is one per cent less than the previous week.

Last week's rental listings figure is one per cent lower than four weeks ago and 30 per cent lower than a year ago.

 

Settlement 6th august ?

 

Hi all

What are your thoughts on Kwinana (Medina / calista) v Mandurah. Both seem to be pretty on par price wise. Medina is closer to the city but is it true that Kwinana has a worse reputation than Mandurah in general? Both areas seem to be performing well.
Thanks!

 

Mandurah is huge - so there is $2m houses and $200k ones. Both areas are Frankston with a side of Meth. I would be very cautious about choosing a property there. If that is all your budget can afford then most other suburbs in your budget would be similar levels of quality tenants.

What is your reasoning behind choosing those 2 areas?

 

There is heaps of demand for some areas! From a FB page. “ Woodvale residents
If anyone is considering selling their home in the next month or so please get in touch with me
We are in the market but nothing is available to purchase.
Avoid having to pay agent fees etc and get in touch if your considering selling
PM me or txt/call anytime xxxxxxx
Budget up to 1 million
Thanks ”

 

Frankston has improved but it certainly was a long time coming. These suburbs will have their day but it depends on what sort of long haul you are in for. Mandurah and surrounds crashed badly and has no supply constraints as there is plenty of land out there - again sort of similar that east of the M1 there is plenty of land but it will take a lot of population growth for Mandurah and surrounds to be considered as close as Frankston is if that makes any sense. Frankston is 41km from Melbourne CBD with a much larger population that are more accustomed to the commute to the CBD, Mandurah is 71km from Perth CBD and most people wouldn't commute to the CBD as it's "too far" when they can live closer for the same amount of money

Depending on what your strategy and goals are then I would have considered something like an older freestanding duplex closer to the city, eg https://www.realestate.com.au/sold/property-house-wa-morley-134524322

Also check out suburbs like Langford, Ferndale, Kiara, Craigie

 

What would you consider at 200-250k price point?
Im guessing the only other option is Armadale or a unit in an inner city location?

 

Lower end in Rockingham

 

Depends if it has to be a house. If you're open to a duplex or villa the suburb list gets better

 

Not interested personally but curious

Would also imagine there wouldn't be much other options if villa/townhouse (maybe KGB suburbs?) in the current market

 

You'd definitely be in the Parmelia, Medina, Camillo, Armadale etc type areas if you wanted a house. You can get an old school duplex in KGB for that price - or equivalent type areas. Then smaller older villas (2 x 1s) in Tuart Hill, Maylands etc

 

Just next door to me, it has a school with a good reputation and upper-middle-class neighbourhood about 20km north of CBD and 10k to the coast.

 

Still a strong weekend for the areas I am monitoring. Everything selling (like everything, no matter what the issues are), 20% of the stock before the auction.

 

ok
If it sells prior to auction, I assume it must be very strong offer, otherwise would go to auction?

 

Same here! Don’t forget it’s $15 steak chips salad night at the Woodvale - Order & pick up! The Woodvale Tavern | Traditional Pub Food | Pub Menu & Carvery Yes it’s a very handy spot! Beautiful beaches!

 

100%, usually 15/20% above asking. Things are really crazy, hard to guess the future but I wondering if all these people will be able to pay the loan when IRs go to 4/5%.

 

It will end in tears