Real estate hotspots revealed

Real estate hotspotsan average 34.4 per cent every year since 2000, compared to a national suburban average of 9.9 per cent for houses, and 8.1 per cent for units.

WA metropolitan home-owners appear to be the biggest winners in the country, with Perth accounting for 11 of the suburbs in the top 20 growth areas.

The other areas in the top 20 are Jindalee, Bertram, Hammond Park, Wattle Grove, Aubin Grove, Butler, Carramar, Darch, Sinagra, and Beeliar.

Only units in Oaksdown in Greater Hobart enjoyed slightly higher capital gain at 34.6 per cent, but house prices were highest in Perth’s semi-rural Herne Hill in the Swan Valley.

Local Elders Real Estate agent Ian Henry said prices started to skyrocket in 2005, after years of sluggish growth.

He said the area had wineries, breweries, top restaurants and café culture, while at the same time offering the benefits of a country lifestyle, such as tight-knit community and big blocks of land.

The city was only 20km away, and major shopping centres such a Morley Galleria.

“It seems like Perth only really discovered the Swan Valley a few years ago,” Mr Henry said.

He said growth had been sluggish this year, as in most areas, but was expected to pick up again next year.

The RP Data report said the top growth suburbs around the nation were mostly situated on the outskirts of cities.

“This is largely due to the fact that in most instances pricing has come from a very low base ten years ago,” said the report.

“Undoubtedly new development has helped boost prices in many of these areas.”

The report said that it was unlikely that these areas would enjoy the same level of capital growth over the next decade.

Top Ten Growth areas:

1. Oakdowns, Greater Hobart, unit – $275,000(median price) (34.6 per cent increase in 10 years)

2. Herne Hill, Perth, house – $595,000 (34.4 per cent)

3. Jindalee, Perth, house – $600,000 (33.3 per cent)

4. Bertram, Perth, house – $383,000 (33.3 per cent)

5. Blairmount, Sydney, house – $327,000 (33.3 per cent)

6. Hammond Park, Perth, house – $485,000 (33.1 per cent)

7. Beecroft, Sydney, unit – $520,000 (32.7 per cent)

8. Gunn, Darwin, house – $464,000 (32.7 per cent)

9. Wattle Grove, Perth, house – $450,000 (32.6 per cent)

10 Gardenvale, Melbourne, unit – $328,000 (32.4 per cent)

Source  :  www.thewest.com.au

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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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WA regional house prices bouncing back

Real estate data for the June quarter has revealed regional house prices in Western Australia have bounced back after dropping sharply in the second half of last year.

The median house price for regional WA grew 6.6 per cent in the past three months, while Perth homes increased by just 2.3 per cent.

The median house price in country areas is now $373,000.

Real Estate Institute of WA president, Rob Druitt, says it is further evidence the housing market is stabilising after last year’s sharp drops.

“The bottom of our market was in the second half of 2008. We’ve now seen a more normalised, stable market,” he said.

“That’s good news for home buyers in the sense they can see interest rates are at 49-year lows, there is some growth there and we can see the market slowly improve from here.”

Source  :  www.abc.net.au

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Rent a Holiday Home in Perth

CLICK HERE TO VISIT RENTAL PROPERTY WEBSITE

Set in the quiet residential neighbourhood of Mindarie, this picturesque house is only a minutes walk from a beautiful park and playground, 10 minutes stroll from the lively bars and restaurants found along the boardwalk at Mindaire Marina, and a quick 2 minute drive from door to shore.

What makes this house different, and so much better, than all the other rental properties out there today? Simple. It’s not just a rental property, it’s a home. And because it’s lived in, it will offer you exactly what you’ll be missing when you first touch down in Perth – all of the creature comforts that will make you feel at home.

So whether you are looking for somewhere to stay for your beach side holiday, or just a place to park your suitcases when you first arrive, this house might be just what you’re looking for – the perfect to unwind, relax, explore and settle into a new life in Perth.

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Builder first, then buy block

I WAS at the Mandurah City Soccer Club as a sponsor recently and, after a conversation with some members, it was apparent there is some confusion regarding building a new home, what is included, what to look for in selecting a block and the process.

With constant changes in the Building Codes of Australia (BCA), you cannot afford to take anything for granted.

I will try to shed some light on the process in future columns, to be published in the Mandurah Coastal Times.

I have extensive experience in the building industry. I started as an apprentice carpenter and sub-contractor. From there, I ran my own building firm and then went into sales and management for one of the largest building companies in WA.

My wife and I relocated to Mandurah six years ago. and I currently work for Danmar Homes as Peel regional manager.

I look forward to this column being of some assistance to all prospective new home buyers. Now for some quick tips:

Firstly, always select a builder before you purchase a block.

Ask if the builder builds to the standards of BCA. Their advice can save a lot of money and frustration.     

If you start right, the chances of problems down the track are limited.                                                                         

My next column will deal with the advantages of house-and-land packages.

To ask Barry a question, phone 9534 8844 or email barry.dye@danmar|homes.com

 

www.inmycommunity.com.au

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