Take A Fresh Look At The Market

Another welcome decision earlier this week from the Reserve bank to leave rates on hold for yet another month, mortgage holders can brief a sigh of relief as the cash rate was held at 4.75.

If your considering buying here is a few “must haves” that you will require when you see your bank/broker.

Demonstrate job stability
Provide a clean credit record
Have genuine savings of at least 5%
Generally operate with good conduct
Dependents vs. Income

If you can easily satisfy all or any of the above criteria, there is a smorgas board of opportunity that awaits you. One of our preferred brokers can help you tailor an offer that is just right for you. One of our agents can help you with what you are looking for and we will make sure we find just the right property that suits what you can comfortably afford.

If you are thinking of selling or buying, you may also consider speaking with your bank or broker. Some sellers discover their second home or investment property may not be worth what it may have been in recent years. An updated market opinion will not just educate you on property values and market fluctuations it will ensure the correct strategy is employed to reach your goals in the exciting new future that awaits you with the decisions you are looking to make.

March has been an incredibly strong month for DQ with our property sales heading back on track. Earlier results indicate vendors were discounting in the first part of the year leading up to March. This means the market is crowded with fantastic buying opportunities at the moment. I heard one of my clients say just the other day “this is probably going to be one of those times, where we all look back and say the market was good back then, we should have bought a second home.

The growth in listings now at an estimated 17’799 continues to keep prices bumping along with the overall market median moving sideways at around $485,000, based on preliminary REIWA data. The proportion of vendors discounting on price is sitting at about 72% with an average discount of 7 per cent. The average selling days for the three months to February have also eased out to 81 days.
 At DQ we have had many properties sell in the first 8 weeks of going to market and turnover on volumes and prices achieved showing a recovery since March.
Auctions clearance rates in Perth made up 3.3 per cent of all sales last year up from 2.7 per cent in the previous year.

The rental market has showed strong improvement with a positive $10 upswing earlier this year on the median, the first time in nearly 18 months. If you are looking to build your property portfolio the property market offers some fantastic opportunities today. Speak to one of our management teams to learn what we can do for you. We have seen pend up demand building as most or our rental properties are selected early to market.

A report conducted in March by one of the banks claimed key employees are suffering to be able to afford properties in our Wanneroo area, our study in to the area reveals some very fascinating statistics.

On the evidence, it seems that several areas in Wanneroo are relatively affordable and only 9 suburbs were at or above the median price($480'000 REIWA Dec 2010) for properties in the Perth metropolitan area.
Out of the 23 suburbs that make up Wanneroo, 6 suburbs experienced positive growth on their median price, based on figures released in Dec 2010 from REIWA.
Wanneroo promises to be very affordable area with very attractive offerings starting from $330’000 in Koondoola to $2’420’000 in Mindarie based on sales records for the year to December.

Over the year to September, 5’475 people migrated to Western Australia. National population figures are down, based on a report released by the ABS however WA continues to have the highest growth rate in the nation at 2.1%. The good news is new arrivals are still making their homes here in Perth, some giving up their rentals and entering the market as first home buyers and with the abundance of choice, its little wonder the difference the right agent and client relationship can make!

Speak to us to put your property goals into action today!