Do you know how to minimise the risk of fire to your family at home?
Under section 2.16 of your lease, a tenant has the responsibility of taking reasonable steps to regularly check and test if these devices are in good working order, and to immediately report to your property manager if they are not.
All properties leased and sold must now have hard wired smoke alarms, which have a maximum life of 10 years before they require replacement. If the unit starts beeping don’t detach the cover to stop it, as the beeping means the internal 9V battery will need to be replaced straight away to help ensure your safety in the event of a fire. The green light in the unit indicates that the unit is connected to the mains power.
The WA Department of Fire and Emergency Services recommends that regular testing of a smoke alarm be undertaken no less than once per month to check that the battery and the alarm sounder are working. It is also a good time for everyone at home to listen and learn the sound the alarm makes. The Department recommends that the battery is replaced once per year so it may be worthwhile fitting a new one when you move in to your home and again on the anniversary each year.
If you have any queries please give your Portfolio Manager a call!
Friday, October 25, 2013
Thursday, October 24, 2013
Thank you for your support
Thank you to all our most valued clients, for partnering with us this year.
Please take a moment to watch this video to see what your partnership has allowed us to achieve through our charitable organisation, DQ Foundation.
Please take a moment to watch this video to see what your partnership has allowed us to achieve through our charitable organisation, DQ Foundation.
REIWA Awards Night
We are very
proud to congratulate our award winning team at this year’s REIWA Awards Night.
Stephen
Humble achieved a new milestone breaking through to the $10-$15 Million Dollar
Club award, sharing this milestone achievement award with Darran Deacon who
again claimed this prestigious category award, well done Darran. Johann Dique
had again been awarded the $16 - $20 Million Dollar Club category with Team
Rolt, David and Marina Rolt, taking out the offices top award with an
outstanding $31 - $34 Million Dollar Club award, an incredible achievement
evident of the hard work and professionalism in assisting home sellers and
buyers throughout the year.
Whilst it
is fantastic for our whole sales team to have received remarkable industry
recognition we could not have done this without partnering with you, our
administration, support and property management teams. We would like to take
this opportunity to thank all the property owners who partnered beside us and had
great success throughout 2012 – 2013. DQ Real Estate looks forward to bring you
Peace from the outset, Hope for an ideal
result and the Joy of having and expert walk the journey with you.
Thank you
for supporting us and recommending us, from your team at DQ.
Set to rise
Capital growth expectations over the next 12
months improved at all price points for established houses and apartments.
NAB’s view of the market takes into account rising unemployment expecting to
dampen house price growth, however NAB sees capital city house prices are set
to rise by 3½% in the year to September 2014 and 3% in the year to September
2015.
The Australian Bureau of Statistics released the latest CPI
figures for the September quarter this week. Perth is now second only to Darwin
(3.4%) with the nation’s highest inflation rate.
At 2.6% for September this indicates Perth’s annual inflation
rate is double the previous June quarter rise for Perth. The interest rate
could well be on the move again, financial professionals may be holding out for
a rate cut whilst other property professionals are tipping a rise towards the
middle part of next year.
Listings continue to trend down taking
the average selling days from 50 in the June quarter to 49 in the September
quarter.
Reiwa.com data indicates the
overall market median for WA has fallen 2.8% in the September Qtr with a surge
in first homebuyer activity and softer upper end sales. Taking the revised June
Qtr median from $523,000 to around $508-510,000. A mix of both first homebuyer
and investor activity in the September quarter could well have attributed to an
increase in multiresidential sales. WA remains the national first homebuyer
powerhouse with the latest monthly ABS finance data (ABS Cat 5609) for August
2013 indicating the proportion of first home buyer loans in WA (excluding
refinancing) actually rising to 34.5% The national trend masks the performance
of some states with WA continuing to be the standout national first home buyer
state both in 2012-13 and into 2013-14.
A combination of slow rental growth and faster
capital appreciation suggest rental yields are marginally falling in WA with a
median weekly rent at $475 for houses and
$450 for units, dropping for the
first time since mid 2000 by 1% respectively for the quarter.
An 81% increase in properties for
lease over the past 12 months has finally flowed through into lower market
rents as landlords adjust asking rents.
Properties
available for lease have remained stable throughout the September quarter
peaking in late August at 4,160. The last 6 months has seen total rental
listings increase 20% but the last quarter dropped 6%.
The drop in listings has seen
Perth’s vacancy rate drop back to 3.1% for the September quarter. Falls in both
the median house rent to $475 / week (-1.1%) and median multi- residential rent
to $450 / week (-2.2%) contributed to the fall in the overall median rent which
fell 1.1% to $470 / week.
Property remains in high demand, improving
for all types of new and established property. If you’re thinking about selling
or leasing and would like to consider your options in today’s market, talk to the
experts at DQ we will walk the journey with you.
Monday, August 12, 2013
Maintenance
The updated Residential Tenancies Act has determined what is an urgent repair, and how long is taken to arrange the repair. If a maintenance issue causes a rental home to lose the essential services of power, gas, a fridge (if one is provided), sewerage, water or hot water; or if the issue is likely to cause damage to the property or unduly inconvenience you will need to contact us as soon as practicable by calling our office on 9309 4004. If this occurs after hours’, over a weekend or during a public holiday we can be reached on our dedicated emergency maintenance number 0447 833 690. We will then contact the lessor to ensure we arrange the repairs within the required time using qualified tradespeople. We recommend that all general repairs are carried out by suitable tradespeople and all of the contractors we use are fully insured which helps protect our lessor’s investment and tenant’s safety.
Outback Splash
Excitement flows through Perth
By December this year Perth will add to its list of attractions with a new water park, Outback Splash. Its been called the most significant tourist attraction development in WA for decades.
Located next to ‘The Maze’ in Bullsbrook, its been predicted 90,000 annual visitors will experience the adventures and thrills the park has to offer. The main attraction is the three-storey-high waterslide for the thrill seekers and a whole range of interactive play features and toddler slides for families to enjoy.
The $70million water park will be built in 6 stages over a decade. Its predicted to include up to 9 waterslides, a lazy river and ‘The Maze’ will also be expanded.
State Finances
The State’s Finances will be the key driver for first homebuyers and investor markets. The Treasurers Budget’s announcement on Thursday comes soon after the Reserve Banks decision to cut rates to their lowest level since 1959 earlier this week.
The recent announcement to cut rates takes the official cash rate to 2.5%. We were pleased to see some of the big banks pass on the cuts with NAB passing on its rate cut only 3minutes after the Reserve’s announcement. This bold move by NAB was quickly followed by Westpac, Commonwealth and other lenders, which could be early indications lenders may now be prepared to be more competitive on new loan applications. This more competitive spirit by the banks will assist both home sellers and buyers into the property market.
The overall market median house price continues to trend up as the preliminary median price is projected at $525,000 for the June quarter. With the market being most active in the below median price levels, the number of first home buyer applications over the year to May rose 34% (UDIA) and the increase in grants paid for established dwellings lifted the proportion of first home buyers to 29% (REIWA) in the June quarter.
The biggest game changer is the changes the state budget will have on first homebuyers. The Treasurer announced the stamp duty exemption for first home buyers will remain but in a push to boost new construction he announced the First Home Owners Grant (FHOG) will be adjusted to $4000 for the purchase of an established home, and $10,000 for the purchase of new-build. This is a reduction of $3000 for the purchase of an established home and an increase of $3000 for the purchase of a new-build.
Although this move by over east state governments failed to produce the desired result it must be noted that WA is the only state that still offers a FHOG. An area of focus may be the availability of land supply catering to the emergence of this new market driven by new construction for first homebuyers given that the current levels of Greenfields is already low. We are hopeful an increased demand may be a catalyst for new land development releases from a state level.
The budgets move to raise land tax by 12.5% will raise an extra $338 million over the forward estimates. Unfortunately the investors will be hardest hit, which may bring some neutrality to the recent growth achieved in the rental market. The increase in first home buyer activity to May has eased pressure on rental properties, showing signs of a slow down with a higher vacancy rate and lease brakes representing on average one quarter of the current supply. Interest rates coming down may see more lessees’ opt for mortgage repayments making the Australian dream come true in acquiring a home.
But it’s not all about the hit on the hip pocket. The outlook for Western Australia remains positive despite some sectors of the market being that we are a growing state with one of the key drivers -our industrial market, responsible for the creation of employment.
NAB reports WA is the standout for income growth in Q2’13 which is expected to soften to 2%. With the Australian economy slowing and labour market pressures growing, returns are expected to be highest in WA (3%) with yields around 2 ½% forecast in all other markets.
NAB’s modeling indicates WA house prices will grow 5.1% through the year to Q2’14 and 3.1% in the year Q2’15. With the proposed urban infrastructure projects for Perth, the likely influence on local real estate markets will be evidenced over the next few years, as the projects of this magnitude will require substantial accommodation for skilled labourers.
At DQ Real Estate you can be sure whilst the market is ever changing we aim to accurately report on the market and guide you with integrity so that together we can plan for your investments to grow. We welcome to discuss with you the different categories of investment property available to meet your short or longer-term goals.
If you would like to know more about the WA property market or would like to discuss the demand for property in your area please contact one of our area representatives, whose details you will find on our website or you may call us on (08) 9309 4004. We would love to hear from you today.
Johann Dique
Licensee
DQ Real Estate
Acknowledgement of sources:
REIWA, UDIA, Sunday Times, NAB Property Index Report Q2’13
The recent announcement to cut rates takes the official cash rate to 2.5%. We were pleased to see some of the big banks pass on the cuts with NAB passing on its rate cut only 3minutes after the Reserve’s announcement. This bold move by NAB was quickly followed by Westpac, Commonwealth and other lenders, which could be early indications lenders may now be prepared to be more competitive on new loan applications. This more competitive spirit by the banks will assist both home sellers and buyers into the property market.
The overall market median house price continues to trend up as the preliminary median price is projected at $525,000 for the June quarter. With the market being most active in the below median price levels, the number of first home buyer applications over the year to May rose 34% (UDIA) and the increase in grants paid for established dwellings lifted the proportion of first home buyers to 29% (REIWA) in the June quarter.
The biggest game changer is the changes the state budget will have on first homebuyers. The Treasurer announced the stamp duty exemption for first home buyers will remain but in a push to boost new construction he announced the First Home Owners Grant (FHOG) will be adjusted to $4000 for the purchase of an established home, and $10,000 for the purchase of new-build. This is a reduction of $3000 for the purchase of an established home and an increase of $3000 for the purchase of a new-build.
Although this move by over east state governments failed to produce the desired result it must be noted that WA is the only state that still offers a FHOG. An area of focus may be the availability of land supply catering to the emergence of this new market driven by new construction for first homebuyers given that the current levels of Greenfields is already low. We are hopeful an increased demand may be a catalyst for new land development releases from a state level.
The budgets move to raise land tax by 12.5% will raise an extra $338 million over the forward estimates. Unfortunately the investors will be hardest hit, which may bring some neutrality to the recent growth achieved in the rental market. The increase in first home buyer activity to May has eased pressure on rental properties, showing signs of a slow down with a higher vacancy rate and lease brakes representing on average one quarter of the current supply. Interest rates coming down may see more lessees’ opt for mortgage repayments making the Australian dream come true in acquiring a home.
But it’s not all about the hit on the hip pocket. The outlook for Western Australia remains positive despite some sectors of the market being that we are a growing state with one of the key drivers -our industrial market, responsible for the creation of employment.
NAB reports WA is the standout for income growth in Q2’13 which is expected to soften to 2%. With the Australian economy slowing and labour market pressures growing, returns are expected to be highest in WA (3%) with yields around 2 ½% forecast in all other markets.
NAB’s modeling indicates WA house prices will grow 5.1% through the year to Q2’14 and 3.1% in the year Q2’15. With the proposed urban infrastructure projects for Perth, the likely influence on local real estate markets will be evidenced over the next few years, as the projects of this magnitude will require substantial accommodation for skilled labourers.
At DQ Real Estate you can be sure whilst the market is ever changing we aim to accurately report on the market and guide you with integrity so that together we can plan for your investments to grow. We welcome to discuss with you the different categories of investment property available to meet your short or longer-term goals.
If you would like to know more about the WA property market or would like to discuss the demand for property in your area please contact one of our area representatives, whose details you will find on our website or you may call us on (08) 9309 4004. We would love to hear from you today.
Johann Dique
Licensee
DQ Real Estate
Acknowledgement of sources:
REIWA, UDIA, Sunday Times, NAB Property Index Report Q2’13
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