Why house prices in Port Hedland, Western Australia, have skyrocketed

House prices in the West Australian mining town of Port Hedland have climbed 34 per cent in the past 12 months, with border closures due to the pandemic causing a shift from a fly-in fly-out workforce to local personnel the likely cause.

Low cash rate setting remains major tailwind for housing values

At todays’ meeting, the RBA maintained the official cash rate target at 0.1%. The decision comes off the back of subdued inflation figures for the March 2021 quarter. Annual growth in CPI was 1.1%, below the 2-3% target band needed to tighten labour market conditions and drive wages growth. Despite a swift recovery trend in labour market conditions across Australia through the December quarter, wages growth remained low at 1.4% over the 2020 calendar year. These inflation and wages outcomes reinforce the need for the low cash rate target; likely for years to come.

Perth Market Snapshot for the week ending 2 May 2021

Sales activity decreased 34 per cent in Perth last week, due to the COVID-19 lockdown and subsequent restrictions. REIWA members reported 645 transactions. This decrease can be attributed to a 33 per cent decline in house sales and a 50 per cent decline in unit sales, however vacant land sales increased 40 per cent during the week.

Perth median house price above $500,000 for first time since 2018

Perth’s median house price is above $500,000 for the first time since December 2018, according to the latest reiwa.com data. REIWA President Damian Collins said reiwa.com data showed Perth’s median house sale price had increased to $508,000 during April.

Mansion with jaw-dropping wine cellar one of Perth’s finest homes

Even the most avid of wine enthusiasts would be gobsmacked at the sight of the custom-built wine cellar in this Dalkeith mansion.

The basement cellar comes fully-equipped with timber racks for thousands of bottles, multiple drinks fridges, a bar area and a Fisher and Paykel half-drawer dishwasher for when the party is over.

Seven regional centres record price growth in March quarter

House prices continue to increase across regional WA, with seven regional centres recording price growth during the March 2021 quarter. REIWA President Damian Collins said reiwa.com data for the March 2021 quarter showed the state’s housing boom was very much being experienced across the regions too.

Perth Market Snapshot for the week ending 25 April 2021

Sales activity increased seven per cent in Perth last week, with REIWA members reporting 979 transactions. This increase can be attributed to a 11 per cent increase in house sales and a 13 per cent increase in unit sales, however vacant land sales declined 39 per cent.

Seven signs the housing market is moving through a peak rate of growth

The pace of capital gains across Australian housing markets has been close to record breaking, with the national growth rate in March the fastest since 1988. Such exuberant conditions have been driven by a multitude of factors including record low mortgage rates, a stunning surge in consumer confidence as the economic recovery beats expectations, a range of additional stimulus measures which have incentivised home buying and building, and persistently low advertised inventory levels which has created a renewed sense of FOMO amongst buyers.

MODERN LIVING AT IT’S BEST!

Century 21 Jones Property Group is proud to present 69B Mercury Street, Carlisle. Built in 2017 this near new property is in fantastic condition and offers the perfect low maintenance lifestyle! Boasting quality fixtures and fittings throughout this will be an ideal fit for all buyers who are looking for a modern property without the concerns of attending to maintenance or renovations and updates prior to moving in. Positioned in a desired street front location with no common land, common bills or strata fees to contend this will definitely be ticking a lot of boxes for buyers!

VALUE FOR MONEY 3 BEDROOM HOME, CLOSE TO ALL THE ACTION!!

Century 21 Jones Property Group is proud to present 3/26 Jupiter Street, Carlisle. If you're looking for a great value for money proposition, then this is the opportunity you've been waiting for! Tucked away privately at the rear in a quiet complex of just 3, is this super neat 3 bedroom home with loads of potential. Offering a homely feel the minute you walk through the door, the home has an excellent floor plan and also boasts a generous sized outdoor entertaining area that would be perfect for hosting guests all year round! Key features include:

MORE THAN MEETS THE EYE – QUALITY BUILT 3 BEDROOM, 2 BATHROOM HOME!!

SPACIOUS 4 BEDROOM FAMILY HOME WITH THE LOT!!

Century 21 Jones Property Group is proud to present 8 Finlay Court, Rivervale. Attention all buyers looking for large family homes, this is definitely the one you have been waiting for! With excellent street front presentation and space in all the right areas this will be perfect for the growing family who need room to move. With multiple living areas, large bedrooms, quality fixtures and fittings and a host of other added extras, you'll need to get in very quick to secure this property!

Unique Perth Hills home literally wrapped in nature

Enveloped by granite rocks and native bushland, this beautiful property truly honours its Perth Hills landscape.

Sympathetically crafted by renowned hills architect Gene Mapp, the Boya property takes its design cues from a Mid-century Modern aesthetic, featuring natural elements, including timber, slate and clay.

Large picture windows overlook the landholding, effectively inviting nature inside, with views from almost every room in the home.

Perth Market Snapshot for week ending 21 March 2021

Sales activity remained stable in Perth last week, with REIWA members reporting 1,010 transactions. This stability can be attributed to a four per cent decline in house sales, a 11 per cent increase in unit sales, and an eight per cent increase in vacant land sales.

Housing lending may be cheap, but regulators argue it is not yet risky

New data suggests changes to mortgage lending rules in the near future are unlikely, despite rapidly rising home values. Recent data from the Australian Prudential Regulation Authority (APRA) suggests that while the proportion of loan originations that could be ‘higher risk’ showed a slight increase through the December quarter, the regulator saw no evidence of a “material relaxation in lending standards”.