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 welcome boost to the notoriously tight market for vacant blocks, with more than 2000 blocks of land for sale at the end of March. 

It is not the first time recently Perth homes have been linked to a half a million dollar median price, with Australian Property Monitors claiming two months ago that homes in the metropolitan area had already reached this level. 

But it is the first time that the more conservative REIWA has made the prediction.

REIWA President Alan Bourke said the increase in listing showed buyers and sellers believed the worst of the global financial crisis was now behind them. 

Soyrce  :  www.thewest.com.au

 

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Inside the Old Bakehouse, now a family home

ITS quaint facade may display its history, but it gives little hint to the sprawling family home within.  

Once the Old Bakehouse, the Bassendean home now serves as a four-bedroom, two-bathroom residence with a below-ground pool and self-contained studio.

Its owners bought the property about five years ago and took care during renovations to retain its original character features.

They added a studio adjacent to the pool and fitted it with a bathroom, built-in barbecue and pizza oven.

“We just love the big leadlight back windows overlooking the swimming pool, and the big family block,” the owner said.

The 1012sqm block has subdivision potential, with the opportunity for two street frontages.

The owner said the neighbourhood felt like a little community.

“The kids go to school locally and I work locally,” she said.

“We used to have the whole school class over at the end of school year for a swim, which was great.”

She said the property was ideal for entertaining in summer.

“The pitched room overlooking the pool is my favourite feature. When you sit in there, with the height of the ceilings and the view, it’s just really peaceful,” she said.

The residence has polished jarrah floors, bathrooms with federation tiles, an ensuite to the main bedroom, wood heating, reverse-cycle airconditioning and decorative cornices.

The property is a short walk to the Swan River and about 11km from the city.

BASSENDEAN
Auction: Saturday, September 12, at 11am
122 West Rd

Four-bedroom, two-bathroom character house with study, al fresco entertaining area, pool, self-contained studio with bathroom, built-in barbecue and pizza oven, on 1012sqm.
Agent: Julie Pedulla 0419440093, Altitude Real Estate 93883911

Source  :  http://www.news.com.au/perthnow/story/0,21598,25998702-5013239,00.html

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North Beach property tests property market

THIS North Beach property could confirm whether Perth’s struggling real estate market has turned the corner. 

Real estate experts say that during the height of WA’s property boom the 1346sqm ocean-front house on West Coast Drive would have fetched more than $5 million.

It is for auction on Saturday and the selling price will be a strong indication of whether property prices, especially for top-end homes, have started to recover.

Nexus sales consultant Peter Berridge, who specialises in the North Beach area, said the property would have been highly sought after during the 2006-07 housing boom.

“It’s a nice elevated lot, with a nice frontage. It’s got everything going for it,” Mr Berridge said.

“I don’t think it would be an over-exaggeration to think it might have sold for in excess of $5 million (back then). We were going through an era where it didn’t seem to matter what you paid for it, you were always going to make a packet until the proverbial hit the fan.”

Mr Berridge said he believed values had dropped about 40 per cent since the property peak.

“The last sale was 341 West Coast Drive in Trigg that sold for $2.2 million and it was a very choice piece of land _ something like that could have possibly pulled $4 million in 2007 and I can mention lesser blocks that sold for more than $4 million,” he said.

According to Landgate, North Beach has enjoyed solid property value growth in the past decade.
It recorded a 19.4 per cent average annual growth rate in the 10 years to December 2008. It also recorded strong growth last year and was among the Perth metropolitan area’s Top 10 performing suburbs, with a 17.7 per cent jump in median house prices.

But during this period it recorded a low volume of sales activity, with just 19 homes sold.
This could have skewered the statistics.

“There’s no doubt that the market for premium coastal property has come back since the height of 2007,” Real Estate Institute of WA president Rob Druitt said.

“Indications are that the first signs of recovery are starting to come through now, so there’s certainly a unique opportunity for buyers who are (looking) in that market,” he said.

Mr Druitt said it has been a bottom-up recovery, so if the top end was reasonably priced and sold, it could give a good indication that Perth’s entire property market had seen the worst.

Source  :  www.news.com.au

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House of the week

1920s charm of North Perth home retained                                                                                                                                                                                          

RENOVATIONS were completed less than a year ago on the 1920s home owned by Karina and Chris Hiller for five years.

“We fell in love with it and we didn’t plan to renovate,” Mrs Hiller said.

“We loved the location, but realised it was getting a bit tight for space when we had a baby.”
So the couple demolished the rear half to allow for an open-plan extension.

They installed a new kitchen, plus an al fresco area because they enjoy entertaining.

Mrs Hiller said they wanted to achieve “retreat-style living” as a change of pace for her husband, who owned a busy cafe in Burswood and wanted the chance to unwind in a tranquil villa-style house.

They combined elements from the old and the new to suit their lifestyle and they think the location is golden because it’s only a 20-minute walk to the city.

Mrs Hiller said she loved the house because of its originality and charm.

“It has ornate and dome ceilings that we never wanted to touch because you can’t find homes with beautiful old things like these any more,” she said.

Other features include a pool, open fireplace, airconditioning, bore-water reticulation and double carport.

NORTH PERTH
$999,000
189 Grosvenor Rd

Three-bedroom, two-bathroom, single- storey house with airconditioning, covered al fresco area, high ceilings, tropical gardens and open-plan living area.
Agent: John Parzycki 0418 923 226, L.J. Hooker Willetton 9457 9955  Source  :  http://www.news.com.au/perthnow/story/0,21598,25867487-5013239,00.html 

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Brighton Estate in Butler – One of WA’s biggest construction site

Butler is said to be the biggest construction site outside the mining sector.

The Brighton estate is more than halfway complete, now offering more vacant lots for a total of $8.4 million. The largest block for sale is almost 16,000sqm in Captiva Approach, near Lukin Drive which is $3.25 million. Property developer Nigel Satterley said this block would be zoned mixed business allowing for multi-purpose use.  Another site overlooking the park in Brampton Avenue which is 6664sqm mixed used lot at $2.1 million.

Mr Satterley said the North-West-Metropolitan sector is the third fastest growing area in Australia for housing.  In the Brighton Estate there will be 6300 residential lots and eventually a population of 28,000 people.  It is the biggest project ever to be lodged under the WA Planning Commission’s Liveable Neighbourhood community design codes.  The plan includes 55 parks, artificial lakes, shopping village and community facilities.                                                                                                                     

The other lots up for offer are : 

• 5335sqm on Chipping Crescent, zoned business $1.1 million.
• 3553sqm on Kingsbridge Blvd mix of commercial and residential use classed as centre zone $790,000.
•  More information call 9562 0422 or 0418 953 659

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Energy was well spent on Yanchep home

DINA and Brett Pappin took their time in choosing their dream home when work commitments forced them to relocate from WA’s south. 

Every house looked the same to the couple until they stumbled across this five-star energy-rated property in Yanchep.

“We were looking in Quinns Rocks because that’s where I grew up and then we decided to look in Yanchep because it was just up the road,” Mrs Pappin said.

The four-bedroom, two-bathroom energy-efficient home immediately caught their attention. 

The home has quality fittings and fixtures throughout, including granite benchtops, polished porcelain tiles, highly polished marri floors in the theatre room, and floor-to-ceiling porcelain tiles in both bathrooms.

“The main ensuite is better than a five-star hotel, with twin vanities, a corner spa and glass-enclosed showers,” Mrs Pappin said. “The bathroom and the kitchen are what sold it for me.”

Another plus for Mrs Pappin was the floor-to-ceiling windows in the main living area.

“I can stand in the house and see the entire backyard,” she said.

“It’s great because I have young children, so I can keep an eye on them while I am cooking dinner.”

The home has an outdoor area with a cedar ceiling and there’s a study. The property is in a cul-de-sac about a 10-minute walk from the beach.

“The Lagoon is the best beach in Perth; the kids love it in summer,” Mrs Pappin said.

Work commitments are taking the family back south.

YANCHEP
$629,000
4 Le Buse CoveFour-bedroom, two-bathroom house with a study/fifth bedroom, five-star energy rating, cedar-lined outdoor area, porcelain tiles, polished marri timber floors in the theatre room, and resort-style ensuite with spa.
Agent: Peggy Middelveld 0415566825, Peard Cox
Real Estate 9400 1599

 

Source  :  www.news.com.au

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