Life would be plain sailing in this luxury ‘ship on the land’

A Perth architect has tapped into his affinity with luxury yachts to create a stunning waterfront mansion in Bicton.

Inspired by the curves of the Swan River, the brand new four-bedroom, four-bathroom home sits on the cliff over Blackwall Reach, effectively a “ship on the land” in its outward-looking design.

Set on a 730sqm landholding, the spectacular home offers 560sqm of living space over three levels and uninterrupted views to Fremantle Harbour and Rottnest Island.

Australian dwelling values finish the financial year 13.5% higher, but a loss of momentum is clear

National home values rose 1.9% in June, taking annual growth to 13.5% for the financial year. The growth in Australian dwelling values was led by houses, which rose 15.6% over the year, compared to a 6.8% lift in unit values.   CoreLogic Head of Research for Australia, Eliza Owen noted “This is the highest annual rate of growth seen across the Australian residential property market since April 2004, when the early 2000’s housing boom was winding down after a period of exceptional growth. However, there are some markets where performance is starting to ease more notably.”

Perth Market Snapshot for the week ending 27 June 2021

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.

Australia’s property market upswing pushes rate of profit-making resales over 90 per cent in March quarter

CoreLogic’s Pain and Gain report for the March 2021 quarter found the portion of profit making resales between January and March 2021 increased to 90.3% nationally, up from 89.1% in the previous quarter and the COVID-induced low of 86.0% in the three months to June 2020. CoreLogic analysed approximately 98,000 resales across Australia from the March 2021 quarter. Variations in the scale of pain or gain are reflected across the different housing markets in the country, with regional Australia continuing its downward trajectory of loss-making resales for the fifth consecutive quarter, units were more than twice as likely to sell at a loss as houses, and owner occupiers enjoyed a higher incidence of profitability than investors.

reiwa.com launches Off-Market properties to help WA buyers stay ahead of the pack

reiwa.com has launched Off-Market properties to help West Australian buyers get access to properties before they have even been advertised for sale. REIWA CEO Neville Pozzi said Off-Market properties gave WA buyers the opportunity to stay ahead of the pack and view the latest properties before they had even been launched to market. “The WA market is firmly in a recovery phase and competition amongst buyers is extremely high. In fact, in some suburbs, properties are being sold before the agent has even had a chance to advertise them online.

REIA calls for Australian governments to urgently tackle housing issues

The Real Estate Institute of Australia (REIA) is calling on the Federal Government to urgently address issues surrounding home ownership as supply continues to diminish. Speaking at the National Housing Forum on 16 June, REIA President, Adrian Kelly said after holding their first ever policy forum of Australia’s real estate agents – Getting Real – in Darwin, REIA had upgraded their forecast for sales and rentals to rise between 20 to 50 per cent in supply shortfalls across the states.

Perth first-home buyers need three years and seven months to save for an entry-level house

First-home buyers in Perth need an average of three years and seven months to save the deposit for an entry-level home, with new data revealing Perth has the best conditions in the nation for first-time buyers.

Perth first-home buyers need three years and seven months to save for an entry-level house

235 Perth suburbs have median rents below their peaks

The Perth rental market is significantly more affordable than it used to be, with reiwa.com analysis showing 235 suburbs had median house rents below their peak prices in May 2021. REIWA President Damian Collins said the vast majority of Perth suburbs were more affordable for tenants than they used to be. “reiwa.com analysis shows 201 of the 235 suburbs had median house rents 10 per cent cheaper than their previous peaks, while 37 of those 201 suburbs were more than 20 per cent cheaper than their previous peak median rents,” Mr Collins said.

Perth Market Snapshot for the week ending 20 June 2021

Sales activity increased 14 per cent in Perth last week, with REIWA members reporting 882 transactions. This increase can be attributed to a 16 per cent rise in house sales, a five per cent rise in unit sales and an eight per cent rise in vacant land sales.

218 markets reach the million dollar club, according to new report

Despite a tumultuous 12 months for the Australian property market, from COVID-induced dips to new record high peaks, CoreLogic’s inaugural Million Dollar Markets report released today has identified 218 markets where either house or unit median values in a suburb reached the million-dollar-mark in May 2021 compared to May 2020. The report also highlights how the current housing market upswing has happened nationwide, with each capital city market and ‘rest of state’ region recording an increase in values over the last 12 months.

Perth Market Snapshot for the week ending 13 June 2021

Sales activity decreased 17 per cent in Perth last week, with REIWA members reporting 783 transactions. This decrease can be attributed to a 15 per cent decline in house sales, a 14 per cent decline in unit sales and a 39 per cent decline vacant land sales.

Sales activity more than doubles in 10 Perth suburbs as first home buyer activity ramps up 105 per cent

reiwa.com settled sales data for the March 2021 quarter has revealed that 10 Perth suburbs have more than doubled their sales volumes when compared to the March 2020 quarter.   REIWA President Damian Collins said the March quarter saw strong sales growth across Perth, with a 31 per cent increase when compared to the March 2020 quarter, but 10 suburbs stood out with more than 100 per cent sales activity growth during that time.

Investors make a comeback amid strong market conditions

Investor demand in the Australian property market took a hit in 2020, while an unprecedented level of government stimuli drove a surge in first-home buyer activity. For the first time in more than a decade, the volume of lending to first-home buyers exceeded that to investors.

Initiatives such as HomeBuilder and the First Home Loan Deposit Scheme fuelled this demand, and over the six months between August 2020 and January 2021, first-home buyers accounted for more new loan commitments than investors.

But since February this year, this trend has flipped and investor activity is well and truly in recovery mode.

Light at the end of the tunnel for WA rental market as investor finance levels increase 164 per cent

Investor finance in Western Australia increased 164 per cent in April 2021 compared to April 2020, according to the Australian Bureau of Statistics (ABS), which is good news for the state’s rental market. The latest ABS statistics revealed investor lending in April 2021 was $453 million, up 164 per cent from $171 million in April 2020. This is on top of the March 2021 improvement, which saw investor finance come in at $441 million, up 94 per cent from $227 million in March 2020.