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Six reasons to buy off the plan

June 22, 2018

Source: The Real Estate Conversation

Buying off the plan is a great way to get into the property market. Of course, before you buy you need to do your research, as with any purchase. So let’s look at my six reasons why buying off the plan will work for you.

1. Saving on stamp duty

One of the biggest reasons, particularly in Victoria, to buy a property off the plan is the…

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Millennials need more help in understanding the buying process

June 15, 2018

Source: The Real Estate Conversation

In the next five years, it’s anticipated that millennials will eclipse baby boomers’ real estate spending power.

Despite 74 per cent of millennials requiring more help than usual in understanding the buying process, it is anticipated that the next five years will see millennials eclipse baby boomers’ real estate spending power with 66.1 per cent of those born between 1982 – 2002 choosing property over lifestyle.

With…

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Average Perth home to cost $2.48 million by 2043

June 13, 2018

PERTH property prices could reach ridiculous levels by the middle of the century if they keep growing at the same pace of the past 25 years.

Projections show the median house price would be $2.48 million by 2043, up from the current $488,000.

A typical unit would cost $1.7 million, up from $400,000.

The Aussie Home Loans and CoreLogic report released yesterday assumed Perth house prices…

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WA economy showing signs of recovery, Chamber of Commerce and Industry says

Source: Shane Wright – Perth Now

THE WA economy is poised to pick up pace on the back of an increasingly confident household sector that is loosening its purse strings.

The State Chamber of Commerce and Industry, in a report into the WA economy to be released today, has upgraded its forecasts for economic growth in large part because of the lift in confidence among consumers and parts…

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Housing affordability improving across Australia, says REIA report

June 6, 2018

Source: The Real Estate Conversation

Housing affordability has improved across the country despite falls in Victoria, South Australia and ACT, according to new research from the Real Estate Institute of Australia and Adelaide Bank.

The 2018 March quarter edition of the Adelaide Bank/REIA Housing Affordability Report shows an improvement of housing affordability across the nation, while the median family income required to meet loan repayments has decreased.

Mr. Gunning said that rental affordability declined…

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Midland’s new heart

June 5, 2018

Source: The West Australian

Midland is in the midst of a once-in-a-multigenerational redevelopment plan, with hopes to see the suburb blossom into a vibrant and modern centre.

Placing another bold foot forward in its ambitious expansion, the City of Swan is going ahead with a multi-million dollar residential and commercial development set to reshape the Midland CBD.

The freshly coined New Junction project, which will cover…

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Lithium to make its mark

June 4, 2018

Source: West Australian Newspaper

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Best time to buy in Perth since 2013

May 31, 2018

Source: REIWA

The latest REIWA Curtin Buy-Rent Index for the March 2018 quarter has revealed it’s the best time to buy in Perth since 2013.

The Index, released quarterly, assesses whether it’s better to buy or rent in Perth based on past and current trends in the economic and property market climate.

REIWA President Hayden Groves said the March 2018 quarter index showed the annual rate of house price growth…

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Lithium to make its mark on WA

May 30, 2018

With Kwinana selected as the site of a major lithium refinery, Investwise Managing Director Daniel McQuillan predicted revived resources optimism would transform the fortunes of the Perth property market.

“Last year property sales in Perth were the lowest in more than 25 years and even lower than during the recession of 1990 when the city was half the size, “he said.

“This is because of a major crash in consumer…

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Perth apartments lure more owner-occupiers

Source: West Australian

Owner-occupiers have flooded into Perth’s apartment market, accounting for 65 per cent of 410 apartments sold in the March quarter — the most transactions in the four years Urbis has been tracking apartment sales.

Urbis director of property economics and research David Cresp said the surge in owner-occupier sales reflected renewed confidence in the apartment market and demand for quality developments, particularly in locations…

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