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House prices in Western Australia are predicted to increase 15 per cent this year after strong demand fuelled greater than expected gains in the three months to March.
Soaring sales activity and rising prices are likely to be features of Western Australian property markets for the next several years, according to a pair of prominent property pundits.
After years in the doldrums, Perth’s property market has emerged as the nation’s strongest with two separate reports pegging the West Australian capital as the national market leader in price growth.
The property market has turned a corner since the advent of COVID-19 with prices increasing nationally for the first time in five months, by 0.4 per cent in October, with Melbourne the only capital city to record a fall in values.
Perth property is selling in less than a fortnight in popular pockets of Perth — and homes in some suburbs are selling five times faster than they were last year.
Record-low mortgage rates and a “less severe recession than feared” are set to pave the way for a V-shaped recovery in residential property market, according to Westpac’s chief economist.
For Perth’s property market, the virus pressed the pause button on what was an encouraging market recovery in early 2020, when we experienced four consecutive months of dwelling value increase – the longest stretch for six years.
Perth is in a strong position to rebound from the pandemic-induced recession and there are “enormous opportunities”, says the founding director behind one of the city’s biggest development companies, Hesperia.
Tune in and listen to Matthew Hughes of @capitalpropertyadvisory give his view on the current property market.
Everyone loves a contrarian position, and I enjoy betting against conventional wisdom.
Whether you’re looking for your first house, an investment property or a new home to suit your growing family, it can be challenging to navigate the Perth market and the buying and selling process alone.
Moving house is one of life’s most tedious tasks and doing it during a health pandemic, when we are being advised to stay at home, doesn’t make it easier.
Australia’s pragmatic Prime Minister Scott Morrison has, unsurprisingly, pivoted to the possibility of an early release from the lockdown, which if prolonged indefinitely would push the country into an extreme depression with far greater human costs than the capricious coronavirus.
As we move through the eye of the coronavirus storm, two key events will be turning points for markets. The first is when the rate of increase in the number of new infections and deaths in larger economies starts to noticeably decline, signalling that containment strategies are doing their job.
While circumstances change and these times are unique, the market will bounce back; always has, always will – the only question is timing.
This too shall pass: are they just comforting words referencing the cyclical nature of markets and history, or a wishful sentiment in a new age of raging fear and financial gloom?
Uncertainty over the effect of coronavirus may have sent stocks plunging to 30-year lows but property values are unlikely to get a similar hit – even in a recession, real estate analysts claim.
Auction clearance rates are poised to fall as more buyers delay their purchase and shun public gatherings for fear of contracting the fast-spreading coronavirus.
Source: REIWA.com March 4, 2020 Perth’s median rent increased to $360 per week in February and is the first increase the Western Australian property market has seen since January 2017. REIWA President Damian Collins said median rents had remained stable for the longest period since reiwa.com first started capturing rental data in 2001. […]
The sun is still below the horizon and the temperature barely above freezing when Jesse Itzler gears up to ascend a black diamond ski slope. “We’re going into the clouds!” he exclaims, eyeing the snow-covered summit of Vermont’s Stratton Mountain, which is ominously concealed by dense fog.
Property investors believe Perth has the strongest potential for growth of any capital city in Australia during the next three years, according to a new national survey.
PERTH’S property market is starting to show signs of improvement, and nowhere more so than these 10 suburbs. Here’s REIWA’s list of Perth’s top 10 suburbs for median house price growth in the 12 months to December 2019, filtered for suburbs with more than 28 properties sold.
More than half of Australians over the age of 55 are open to downsizing, according to a new report based on a survey of 2,400 households.
Australia’s property revival is spreading across the country with prices now rising in every major city.
Article by Hamish Hastie Source: WA Today January 14, 2020 Inner-city and northern suburbs topped the list of hottest markets in which to sell a house according to Real Estate Institute of WA data for 2019. Last year it took 39 days on average for a house to sell in Wembley, the quickest in […]
Article by Tim Lawless, Michael Yardney’s Property Update Source: Property Update January 8, 2020 In 2020, it’s unlikely we’ll see such a rapid rise in capital gains as seen throughout the second half of 2019 despite the expectation that mortgage rates will move lower over the first half of the year; several factors are […]
Article by Core Logic, Tim Lawless Source: Core Logic December 2, 2019 Housing Rebound Spreads To Perth As National Housing Values Mark Five Months Of Consistent Growth, Taking The National Index Back Into Positive Annual Growth Territory For The First Time Since April 2018. CoreLogic’s national Home Value Index surged 1.7% higher over […]
Article by Property Observer, Joel Robinson Source: Property Observer November 14, 2019 Commonwealth Bank have updated their forecast for the 2020 dwelling markets on the back of the resurgence over the last few months. They now expect national dwelling prices to grow six per cent in 2020. CBA senior economist Gareth Aird […]
Article by Property Council of Australia | Source: Property Council October 23, 2019 Property Council WA has secured a State Government decision to offer a 75 per cent stamp duty rebate for off-the-plan apartment buyers. The change is effective immediately. Previously the State Government’s stamp duty regime favoured off-the-plan buyers of house and […]
Article by REIWA | Source: REIWA.com July 17, 2019 Perth’s unit median price has strengthened in the June 2019 quarter improving by 3.9 per cent to $385,000 and median house price stabilising since last quarter. REIWA Deputy President Lisa Joyce said while sales activity remains soft, is it a good sign that prices […]
Matthew Hughes, Managing Director at Capital Property Advisory July 15, 2019 There has been discussion recently regarding potential changes coming in the following local government areas (LGA) in relation to trees: Bassendean Bayswater Victoria Park Nothing is final yet, but part of the benefit of the relationships we have with local council […]
Matthew Hughes, Managing Director at Capital Property Advisory July 15, 2019 At a recent City of Joondalup (CoJ) Council Meeting, a draft new planning framework for infill development was discussed after having had engaged Taylor Burrell Barnett to review the City’s current Housing Opportunity Areas (HOA) and their position on infill development and developing […]
Matthew Hughes, Managing Director at Capital Property Advisory July 9, 2019 The Metropolitan Redevelopment Authority (MRA) has a vision to transform Perth into a vibrant, connected city that can meet the needs of its growing population. The driving force behind the redevelopment of Scarborough, Elizabeth Quay and Yagan Square is now being tasked […]
Article by Su-Lin Tan | Source: Australian Financial Review May 28, 2019 House prices will stop falling in the second half of 2019, HSBC says, as the bounce in auction activity last week continues to drive up housing sentiments. In a note on Tuesday, HSBC says the exuberance in auction trading last week […]
Article by Michael Yardney | Source: Michael Yardney’s propertyupdate.com.au May 19, 2019 The results are in and to the surprise of many, Scott Morrison has led the Coalition to win this year’s Federal election. And this means our housing markets are likely to pick up by the end of the year. Treasurer […]
Matthew Hughes, Managing Director at Capital Property Advisory May 20, 2019 Do It Yourself (DIY) Development or Development Syndicate. Which is right for you? So often nowadays we are asked by our clients about the merits of investing into a property development syndicate as opposed to completing your own development. The answer is […]
Matthew Hughes, Managing Director at Capital Property Advisory April 3, 2019 Depending on who you ask, the Perth market is either close to the bottom, at the bottom, or already on its path to recovery – in any event, we can all agree the worst is likely behind us – if you exclude over-supplied fringe […]
Article by REIWA | November 2018 A beginner’s guide to property investment So, you want to win big in real estate? Property investment can be a great way to set yourself up financially, but can seem like a dangerous playground if you haven’t done your homework. We know how important it is to make the […]
Matthew Hughes – ABC Drive (Perth)
Article by Jason Mennell, Kalgoorlie Miner September 28, 2018 A rebounding WA resources sector has driven the number of people employed in mining across the State to record levels. Statistics announced yesterday by the Department of Mines, Industry Regulation and Safety for the 2017-18 financial year show more than 112,000 people directly employed in […]
Matthew Hughes, Managing Director at Capital Property Advisory September 20, 2018 Australians are increasingly seeing the value in engaging help when buying a home, investment property or when attempting a subdivision or development. Demand for the service is growing and more buyer’s agents are popping up around the country all the time. Here’s […]
Trent Wiltshire, Domain Economist | September 10, 2018 The end of the great Sydney and Melbourne property booms has had its fair share of headlines and there will no doubt be more to come. However, on the other side of the country we may be witnessing a quiet resurgence of another major market. After years in the doldrums, Western Australia […]
What positive can we draw from the Royal Commission into Banking, Super and Financial Services? A great opportunity to really highlight the difference between good and bad advice! Avid news followers will probably be aware that a Royal Commission has been launched into the Banking, Superannuation and Financial Services Industries. There are however many […]
the urban developer | 13/06/2018 Growing concern consumers are increasingly vulnerable to conflicts of interest due to major selling agencies opening “buyer’s agency” services, has been voiced by leading industry heads. The concern comes after major real estate brands have launched their own dedicated buyer advisory division, which the Real Estate Buyers Agents […]
9news | 29/05/2018 Experts say WA is on the brink of another mining boom with new projects and tens of thousands of jobs to be created in the next year. FMG, Rio Tinto and BHP are set to invest billions of dollars recruiters struggling already to keep up with demand for workers. […]
reiwa.com.au | 09/05/2018 Federal Treasurer Scott Morrison has handed down the 2018-19 Federal Budget, which focusses on continuing the economic growth seen over the last year. With the balance sheet looking better than expected, thanks to a $35 billion boost over four years, the property market was relatively unscathed as the Treasurer ruled […]
April 9th, 2018, 02:30pm | Written by Lauren Pilat | Wanneroo Times LIKE smoking, meth or ice users are not the only people whose health and livelihoods are detrimentally affected by the drug. Australian families living in properties where meth has been smoked or manufactured are suffering from health issues, with children […]