WA’s top 10 property hotspots

It’s the bargain property hunter’s annual guide to the best places in WA to buy property Terry Ryder, of hotspotting.com.au, has released his annual list of WA’s top “hotspots” – suburbs and towns where there is potential for good capital growth or better-than-average rental yields. While the locations are little changed from last year, the [...]

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Perth house prices set for biggest climb

The median price for a Perth house will pass $600,000 within three years as the city’s property market reclaims its title as the strongest and fastest growing in the country, a new report predicts. The BIS Shrapnel residential property report forecasts house prices in Perth will climb an average 7 per cent a year for [...]

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Reserve keeps interest rates on hold

The Reserve Bank has delivered some badly needed relief to mortgage holders, deciding today to leave official interest rates on hold. For the first time since February, the RBA board did not use its monthly meeting to lift rates which now stand at 4.5 per cent. In a statement, bank governor Glenn Stevens said the [...]

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Minister wants to flood land market

New Housing Minister Bill Marmion has shocked the property market by saying he wants to flood WA with housing lots to cut home prices. In a speech to Parliament that has set alarm bells ringing throughout the real estate industry, Mr Marmion said the Barnett Government’s aim was to “bring house prices down”. “The Department [...]

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Tenants warned to brace for increased rents

Perth tenants should brace themselves as rising house prices, improving economic conditions and more newcomers to the state combine to force up rents this year, a leading property researcher says. The latest rental report by Australian Property Monitors shows asking rents in Perth have increased in the first three months of the year. The median [...]

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Reserve Bank risks grinding Australia to a halt – economist

FURTHER official interest rate rises could choke off consumer spending and grind the economy to a halt, economists warn. Herston Economics chief economist Clifford Bennett says if the Reserve Bank raises the cash rate to five per cent by year’s end, the economy would “grind to a standstill”. The current cash rate is 4.25 per [...]

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Nedlands, Cottesloe top $1m+ sales list

Two of Perth’s western suburbs are all that stood between a total eastern states domination of Australia’s premium property markets last year. Figures released by property analysts RP Data show Nedlands and Cottesloe as the only two non-Sydney or Melbourne suburbs to make the top 20 areas for $1 million-plus house sales last year. The [...]

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Reserve tipped to bump up rates

Homeowners face finding another $50 a month to pay the mortgage, with the Reserve Bank tipped to lift official interest rates again today as it battles to dampen house prices and keep inflation pressures at bay. A quarter percentage point rise this afternoon would mean official rates would have climbed 1.25 percentage points since October, [...]

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Perth median house price to hit $500,000

Perth’s median house price is tipped to hit $500,000 mark in the March quarter amid burgeoning confidence, according to the Real Estate Institute WA.  It follows a 22 per cent jump in the number of properties for sale in the metropolitan area since December, with a current supply of 12,700 properties.  The figure includes a [...]

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More WA workers expect a pay rise

West Australians expect the biggest pay rises of any workers in the country, believing the global recession is over and the mining boom has arrived. A report by Westpac has found 14 per cent of West Australians expect a pay rise of at least 8 per cent over the coming year, while another 21 per [...]

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