#vicparklife
White picket fences and backyards with mulberry trees. Apartments and town houses and villas and everything in-between. It's got a bit of everything.
Property Update: Spring market miracle?
Lowest stock levels – ever (in recent recorded history)! Houses, land, apartments, townhouses, villas you name it – 2,779 listings.For a city of over 2,000,000 people (and climbing) this is the equivalency of attempting to feed 5000 people with 5 loaves of bread and 2 fish – without the interceding miracle. Buyers are hungry for
Perth’s Property Pulse – Where to now?
Last year (2024) we saw the record low (3,266) residential listing numbers ease and stock levels gradually increase into the November 2024 period (5,080).Buyers became somewhat discretionary and the crazy price growth took a breather.It was all over. But like a creepy clown horror movie the next jump scare is never far away. Stock levels
Looking in the rear view mirror
EOFY – Property Update What a wild ride it has been! At the beginning of last financial year, historically low stock levels of 3253 listings (REIWA 15th June 2024) and other market factors combined to make the perfect real estate storm.Buyers were competing hard to secure a home and were prepared to pay for the
Hang on for the ride!
I had the pleasure of attending the Australian Property Institute Annual Industry breakfast recently. With a panel of industry experts forensically examining the 2025 WA residential property outlook, it was an interesting event analysing the data and crystal ball gazing at Perth’s residential property future. The future hinges on cyclical change versus structural change. Cyclical
That’s a wrap!
2024 – a year of extremes in the Perth property market. Stock levels hit crazy lows of 3200 and buyers fought hard to secure homes. We are seeing that all slowly change as the market starts its journey towards normality (what even is that?!). With Perth metro stock levels up to 5500 and trending up.
The Tide Is Turning
For the first time in a long time the stock levels are rising week on week and currently sit at 5,200 listings for Perth metro. This is approximately 700 more listings than 4 weeks ago and 2000 more listings than earlier this year. This is the first semblance of opportunity Buyers have seen for some
Appraise and Win!
Appraise and Win this Xmas! Thinking about selling? Book your in home appraisal with Derek Baston before Dec 19, 2024 and you will be entered into the draw to Win 1 of 3, $500 Crown Gift Cards! Enter here and Good Luck!
China – the wet nurse for WA.
Seemingly overnight the Chinese have introduced potentially trillions of dollars worth of stimulus to their economy designed to keep growth around 5%.This is BIG news if you are dependent on iron ore prices and the associated royalties. Only days ago the dropping iron ore price and the economic slowdown in China painted a grim picture
The Spring Market Is Here!
The market continues to bubble along with the extreme shortage of houses and Perth’s population increase driving Buyer demand. Good homes are still selling in whip cracking time – 5/3 Geddes Street even selling off-market last week! Multiple offers have been received on opens this weekend, but fear not, we have some great listings coming up
Perth, more than mining?
Is the mining cycle past its peak? And if so, does the Perth residential market have the capacity to break free of it’s mining straitjacket?
Is Perth’s Property Market Headed for Another Record Year?
What is the outlook for Perth’s residential property market?Buyers are competing for limited housing supply forcing prices up with property pundits suggesting 20% growth for Perth metro over the course of the year. Stock levels remain ridiculously low !(data courtesy of REIWA) Many suburbs of Perth have already seen 20% plus growth over the last
Downsizers are trapped!
Today as I appraised a western suburbs home worth in excess of 2 million dollars, the elderly owners lamented that they were trapped. As they explained, to buy a home they needed the cash from their existing property.But of course an offer subject to their sale wasn’t getting any traction in the market, as pre-approved