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REIWA Perth sales activity on the rise

Perth sales activity on the rise

NEW

 

04 March 2016

Sales activity in the Perth metro area increased significantly in February.

REIWA President Hayden Groves said the market had enjoyed a healthy rebound following the Christmas and New Year dip.

“reiwa.com data shows sales activity in Perth lifted 16 per cent over the month and five per cent when compared to November 2015.

“We’ve also seen that weekly sales over the last three weeks are higher than they were at the same time last year. While it’s too early to call this a trend it’s a good indicator that mobility in the market is beginning to improve,” Mr Groves said.

At a sub-regional level, the Central sub-region had the strongest increase in sales activity over the month lifting a healthy 37 per cent, followed by the North West sub-region with a 24 per cent lift.

“Baldivis in the South West sub-region and Canning Vale in the South East sub-region were the top selling suburbs in February, followed by Scarborough in the Central sub-region,” Mr Groves said.

Perth’s median house price etched back 1.1 per cent in the three months to February, coming in at $529,000.

Listings

Mr Groves said there had been a three per cent increase in listings stock in February which wasn’t surprising as vendors traditionally returned to the market at the start of the year.

“This is a marginal increase given the time of year, but it’s significant to note that listings are now eight per cent lower than they were in November which suggests this could be the early stages of a correction in a market of prolonged higher than average stock levels,” Mr Groves said.

Rental market

Perth’s overall median rent price held firm at $400 per week in the three months to February 2016.

In terms of houses and units, Mr Groves said the median price for both was unchanged over the month at $400 and $380 per week respectively, but each had dipped $10 per week when compared to November 2015.

“While tenants are still in a good position to secure a competitively priced lease in Perth, it’s encouraging for investors that rent prices are appearing to steady in 2016,” Mr Groves said.

Rental listings in the Perth metro area declined three per cent in February but remain above the long term average.

A new testimonial from a recent client;

Hi Lisa , 
Just wanted to send you an email to say thank you very much for your help in selling our home. We can’t thank you enough for everything you did to make the process so easy. Melissa and I had met with many real estate agents while deciding whether to sell or not. Some of them made us feel uneasy or they were pushy , or cocky but after our first meeting with you we felt that you were on the same page as us , we felt comfortable because you were very approachable and open to our thoughts. 
Your knowledge of the market and the area was reflected perfectly with how fast you sold our home , and we were very grateful to your self and to swan valley realty for the professionalism but also for not feeling like another real estate robot. We honestly couldn’t have imagined a more simple process from our first meeting to our last . 
Thank you again for your great work.
We will be definitely spreading your good name to everyone we know.
Aaron and Melissa Bandy

Latest interest rate cut to benefit home buyers

The following article appeared in REIWA.com news on 6 May 2015…

“The Reserve Bank of Australia’s (RBA) decision to lower interest rates by a further 25 basis points to two per cent has been welcomed by the Real Estate Institute of Western Australia. 

REIWA President David Airey said the rate cut presented home buyers with financial approval with a very good opportunity. 

“There’s plenty of property to choose from in our sluggish market, with sales down by around 11 per cent on last year. 

“People who have put off buying might now be enticed to act with such low interest rates and huge competition to lend,” Mr Airey said. 

RBA Governor Glenn Stevens said the Board judged that inflation outlook provided the opportunity for monetary policy to be eased further and to reinforce recent encouraging trends in household demand. 

Yesterday’s interest rate cut is the second this year, following the 0.25 per cent drop in February.” 

 

Another great community initiative in Ellenbrook

I wrote a post on Monday about a group of lady’s who are over 50, who were inspired by a poem to inject a bit of fun and friendship into their lives.

Realizing how poems can inspire and be an avenue for a creative outlet The Ellenbrook Library and Ellenbrook Secondary College both embraced poetry as part of National Numeracy and Literacy week.

Students made pocket sized scrolls with poetry scrawled on the inside – these ‘Poems In Your Pocket’ were then distributed at the school, library and other places in the community for people to be able to pick up a poem on the go. What a great idea! Another great community initiative in Ellenbrook.

 

New Mecca Gourmet in Aveley

I enjoyed a delicious coffee at the new Mecca Gourmet in Aveley last week. It is a coffee shop, pizza place and cafe that is open early until late 7days a week. The shop is beautifully fitted out, the service was great and the cakes look lovely- must try next time I visit! They do a Detox Breakfast that looks divine- it has crispy bacon, chorizo, roasted potato, garlic, onion, poached egg, avocado and salsa. Yum! Mecca Gourmet is situated at the shops on Egerton Drive, Aveley

 

An Aveley family really got into the spirit of Halloween and the community joined in.

I took my little monsters to Halloween at the Marshalls on Friday night in Aveley and was so impressed with the effort the Marshalls went to to put on a great Halloween event for the community. It is getting so popular we had to wait in a line to go through the haunted tunnel. And scary! My daughter not only screamed but also cried!! For more photos of the night go to their Facebook page at Halloween at the Marshalls.

 (4 photos)

Ellenbrook’s Urban Sprawl – What happens to the Kangaroos?

A relocation program is being considered by developers and the government for the abundant kangaroos in the area. Department of Parks and Wildlife said between 150 and 200 kangaroos could be relocated to Gorrie State Forrest block, just south of Chidlow and The Lakes. Culling is not being considered at this stage. Instead the kangaroos will be tranquilized and transported about 50km away.

The wildlife population faces competing with the 4700 eventual homes and two town centres that will be built by Stockland as part of Vale. Stockland say they will retain more than 26 per cent of the site for bushland and wetland conservation and reserves that will be accessible as public open space.

Source; Ellenbrook Advocate 22nd October, 2014