Busselton is WA’s fastest leasing regional centre

Busselton is the fastest leasing regional centre in Western Australia, with reiwa.com data showing the median time to lease a rental in the area was 11 days during the three months to February 2021.   REIWA President Damian Collins said the Busselton median leasing time was nine days faster than the Perth median leasing time for the same time period and 12 days quicker than it was during the three months to February 2020.

Perth Market Snapshot for the week ending 14 March 2021

Sales activity increased 10 per cent in Perth last week, with REIWA members reporting 1,020 transactions. This increase can be attributed to a 13 per cent increase in house sales and a 17 per cent increase in unit sales. However, there was a 16 per cent decline in vacant land sales.

The North Perth Dollhouse: Designed to demonstrate how small houses can be liveable without compromising lifestyle

National Auction Market Preview – 14 March 2021

Auction volumes are set to rise with 2,240 homes currently scheduled for auction across the combined capital cities this week, up 42.8 per cent on the previous week when volumes dropped due to a public holiday in four of the eight states and territories. Melbourne is set to host 1,083 auctions this week, up from just 487 over the previous week, although lower than this time last year when 1,201 auctions were held across the city. In Sydney, 836 homes are scheduled to go to auction this week, up from 789 last week and 767 this time last year.

Capital city preliminary clearance rate improves across lower volumes over the week

There were 1,587 capital city homes taken to auction this week. Of the 1,311 results collected so far, 84.5% have reportedly sold.  This is an improvement on last week’s preliminary clearance rate of 81.9% when volumes were higher (2,473). Final figures by Wednesday saw last week’s preliminary clearance rate revised down to 79.3%.  The lower volumes this week can be attributed to four of the states and territories welcoming a public holiday on Monday, including Melbourne where volumes are down substantially over the week.

Home prices are starting to surge at the high end of capital city markets

The latest home value index results from CoreLogic showed the strongest monthly rate of growth in national dwellings since August 2003. A striking feature of the current upswing is the pace at which the ‘high’ end of the market has risen in recent months.   The ‘high’ end of a market is measured by CoreLogic in its ‘tiered indices’ series. The high tier is the top 25% of property values in any given region. As of February, this refers to dwelling values at around $960,000 or higher for the combined capitals, with a typical value in the high tier around $1.2 million.

Perth Market Snapshot for the week ending 7 March 2021

Sales activity decreased 11 per cent in Perth last week, with REIWA members reporting 930 transactions. This decrease can be attributed to an eight per cent decline in house sales, a 15 per cent decline in unit sales and a 20 per cent decline in vacant land sales.

Bali-inspired sanctuary in the hubbub of inner city Perth

When Yolanda Vurens van Es and her husband Henry embarked on a new build in inner city North Perth, the couple wanted to capture an element of their travels to the villages of Bali they had come to love.

“We would regularly go over to Bali to the east coast, so not the usual Kuta or Seminyak holiday hotspots,” Mrs Vurens van Es said.

“Over time we got to know the locals and we have a real affiliation with the local people near Candidasa – the villagers and fishermen.

WA remains most affordable state in the country for housing

Western Australia remains the most affordable state in the country despite affordability declining overall, according to the latest results from the Real Estate Institute of Australia’s (REIA) December 2020 quarter Housing Affordability Report. The report found although the proportion of income needed to meet loan repayments had increased in WA from 23.9 per cent to 24.8 per cent in the three months to December 2020, WA was still the most affordable state, with only the Northern Territory and Australian Capital Territory more affordable.

Momentum builds across Australian housing markets as values rise at the fastest rate in seventeen years

Australian home values surged 2.1% higher in February; the largest month-on-month change in CoreLogic’s national home value index since August 2003.  Spurred on by a combination of record low mortgage rates, improving economic conditions, government incentives and low advertised supply levels, Australia’s housing market is in the midst of a broad-based boom. Housing values are rising across each of the capital city and rest of state regions, demonstrating the diverse nature of this housing upswing. According to CoreLogic’s research director, Tim Lawless, a synchronised growth phase like this hasn’t been seen in Australia for more than a decade. “The last time we saw a sustained period where every capital city and rest of state region was rising in value was mid-2009 through to early 2010, as post-GFC stimulus fueled buyer demand.”

Will changes to JobSeeker impact the housing market?

The temporary supplement to JobSeeker payments in Australia are set to finish at the end of March 2021. The JobSeeker ‘coronavirus supplement’ was a temporary boost to new and existing recipients of welfare schemes in response to the onset of COVID-19 including JobSeeker, Youth Allowance, Austudy and the Parenting Payment.

Perth Market Snapshot for the week ending 28 February 2021

Sales activity increased 10.4 per cent in Perth last week, with REIWA members reporting 1,058 transactions. This increase can be attributed to a 1.3 per cent rise in house sales, a 17.3 per cent increase in unit sales and an 88.6 per cent increase in vacant land sales over the week.

Hidden oasis on Perth’s CBD fringe is more than meets the eye

With a modest exterior, this camouflaged haven on the city’s doorstep blends the necessities of family life with a sleek, contemporary, industrial vibe.

Fronting a laneway with its black box-like façade, the property at 23A Hutt Street in Mount Lawley maintains a sense of subtlety despite being located among the hubbub of one of Perth’s busiest retail and café strips.

Perth’s home-building boom fuelled by government grants

Building a new home in Western Australia has never been more popular, with applications for government incentives reaching new highs while placing pressure on builders to construct homes within the required timeframes.

Perth Market Snapshot for the week ending 21 February 2021

Sales activity increased 16 per cent in Perth last week, with REIWA members reporting 966 transactions. This increase can be attributed to a 28 per cent increase in house sales and a five per cent increase in unit sales, however vacant land sales declined 19 per cent during the week.