Off-Market Properties Available Across Perth!

To my fellow readers,

First question off the bat, how are you?

It is a always a please writing this for us to reconnect and find out how I can help you through your property journey. Here's two things you could do for me in the next 5 minutes:

1. Let me know if you are interested in viewing ANY of the off market properties below
2. Do you have friends or family looking to purchase in the areas below? We have referrals up to $1,000 for you!

Otherwise, let's get you connected in the world of real estate.

EXTRA, EXTRA...read all about it

LATEST REIWA STATISTICS WEEK ENDING 30TH JUNE 2024

OFF-MARKET PROPERTIES

ELLENBROOK

3X2X2 on Grassdale Parkway on 353m2 from $650,000 available vacant mid July

DIANELLA

5x3x2 on 723m2 in Dianella from $1,100,000 available for viewing this Saturday. This residence is on Alexander Drive amp; has a land size of 723 m². It is a house that was built in 1978 with 5 bedrooms, 3 bathrooms, and 4 parking spaces.

MORLEY

Development Site with Retain & Build Potential and opportunity to build up to 8 apartments From $1,100,000 - $1,200,000

VICTORIA PARK

Located on Berwick Street on the 2nd level of this complex, this 2x1 with low strata in a small complex is currently tenanted at $450 per week until August 2024, could be up for $550 per week and sellers are looking for all expressions of interest on this unit prior to hitting the market!

BELMONT

5 Blocks available + house and land packages from as low as $230,000!

ARTICLE OF THE WEEK

Buyer optimism blossoms despite our chilly winter

The strength of the Australian residential market continues to power ahead, registering value growth for the 16th successive month.

Home values increased 0.8% in May, which is the largest monthly gain since last October.

The mid-sized capitals are leading the way. The three hottest cities right now are Perth (+2% in May alone), Adelaide (1.8%) and Brisbane (+1.4%).  

According to CoreLogic's Home Value Index, these rises are the equivalent of more than $12,000 in each city. Meanwhile, Sydney rose 6% and Melbourne remained flat.

A driving factor for these price rises is the lack of supply – a continuing theme that has entered the political discourse. 

CoreLogic says the number of properties on the market in Perth and Adelaide remains 40% below five-year averages, while Brisbane is 34% below.

What's the takeaway here?

This data signals three crucial points. 

Firstly, buyer optimism remains strong across the country. Secondly, the consequence of demand outstripping supply remains consistent even in a high interest rate environment. If you need further evidence, the CoreLogic data finds Hobart has 41% more properties on the market than its five-year average and its sales values dropped -6.4% in May.

Finally, it should signal to owners thinking of selling that they should capitalise on the current conditions. 

The scuttlebutt around the immediate future of interest rates remains confused.

While most pundits expected rates to start falling, the Reserve Bank of Australia has hinted it might raise them beyond 4.35% to bring inflation within its 2%-3% target range.

Below, our agents offer five key pieces of advice for owners considering selling in the current market conditions. And if we can help you with your property needs, please do not hesitate to contact us:

• Do your research: Investigate the price trends in your area. Consider attending some auctions to gauge the market's mood in your suburb. 
• Talk to a trusted agent:  Tapping the wisdom of local market experts is essential. Ask us about the consistency of price trends for your type of home. How quickly are properties similar to yours selling? We are happy to provide a price appraisal.
• Equity and financial goals: Consider your financial goals and the impact selling would have on either downsizing or upgrading. Ask your lender how much equity you have in your loan and the size of any preapproved loan they would grant you. 
• Your next home: Obviously, you'll need somewhere to live. So, it's always important to consider the type of home you wish to purchase. Consider your future needs, whether they're related to a growing family, health or a desire for a different lifestyle.
• Be Realistic: It's easy to get carried away with how much you believe your home to be worth. But you need to be realistic. Rising markets often skew owners' perceptions of value. Price your home in line with current market values, and be prepared to negotiate if you want a quick sale.

As always, ROCK ON until the next time!

Yours Truly,

Prash