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Are you looking to buy, sell, refinance or invest in property? Find out the value today with your FREE property report voucher! Get quality information to help you make an informed decision. Your complementary Residex CMA Report will: •Help you assess the worth of a residential property by providing a price estimate •Give you past sales history including upgraded sales prices, highest and lowest property value on the street •Equip you with suburb demographics and predicted future property trends. Ask for your FREE property report voucher today by contacting Mark Coonan on 0417 755 776, phone 1300 883 453 or via the “contact us” link at the top of this page.

Perth’s Housing Market

The Real Estate Institute of WA released data that the Perth market seems to have returned to normal with turnover restored to the 15 year average with sales activity from first home buyers allowing trade-up buyers to return to the market to sell their existing home and up-grade

This has resulted in sales turnover being up by sixty percent at this same time last year

An Ideal time for Investors to Purchase

It is a good time for an investor to expand your portfolio with the property market starting to pick up with figures showing that the total dwellings sold in Western Australia in the March 09 quarter was 12,600 (median price $348,500 unit / $430,000 house  $230,000 land) “versus” 8,926 (median price $342,300 unit / $420,000 house / $220,000 land) in the December 08 quarter. 

Also, the very low interest rates and median weekly rent of $360 also prove to be a good time to to make the decision to sell or buy property.

Property Market Showing Positive Signs

The Real Estate Institute of Australia (REIA) President, Mr David Airey said ABS figures released on 10th June 2009 highlight a property market that has stabilised and showing signs of growth as investors make a return to the market, with first home buyers continuing to be very active.

“This is a really positive sign for the property market and shows that investors are starting to re-gain their confidence while the main driving factor for first home buyers are low interest rates and the availability of the First Home Owner’s Grant Boost (FHOG Boost)”, continued Mr Airey.

The data released also shows a 0.9% increase in the number of established home purchases, in comparison to a 0.5% decline in the number of new home purchases.

“These results show that REIA made an accurate assessment of buyer preferences in its submissions for an extension of the FHOG Boost for both new and existing homes”, continued Mr Airey.

“While the proportion of first home buyers increased to 28% of total owner occupier housing finance commitments, the average loan size decreased by $2,500, reflecting the tightening of bank lending practices in the current economy”, concluded Mr Airey.

Grant for First Home Buyers ends 30th September

Only 4 months to go for first home buyers to claim the full grant of $21,000 if signing a contract to a newly built home and $14,000 for an established home.

If the contract is signed after 30th September, but before 31st December a first home buyer will still be eligible to a lower grant of $14,000 for a newly built home and $10,500 for an established home.  In 2010 the grant will revert back to $7,000 for a newly built home and established homes.

Call us now on 1300 883 453 or simply get our Free “First Home Buyers” Report to find out more.