WA Real Estate News
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Leasing activity rises in Perth for December quarter
Leasing activity in Perth has risen significantly with latest figures for the last December quarter showing improvement of 23.8 percent compared to the prior corresponding period. Real Estate Institute of Western Australia (REIWA) president Hayden Groves said its data showed all five sub-regions experienced notable increases in activity over that time. “While conditions in the rental market remain challenging, the…
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The Agency Appoints Stuart Cox as its new State Sales Manager for WA
Real estate industry veteran Stuart Cox has been appointed as the “The Agency’s” latest state sales manager for Western Australia, effective immediately. In this role, Cox would be tasked to work with The Agency’s Sydney office in implementing unified policies and procedures as well as assume the responsibility for recruiting, managing day-to-day affairs and working on improving the company’s business…
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Nesters Australia uses tech to sell clients properties with low-commission of 1.5 percent
A Perth-based real estate agency is saying they have worked out a strategy to help their client sells their homes quickly, with the lowest possible commission. Nesters Australia operates through a smartphone app, and only charges a commission of 1.5 percent while promising to secure the best possible price on the seller’s property. With the market conditions that have been challenging…
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REIWA welcomes state govt’s commitment not to increase or introduce new state taxes if re-elected
The Real Estate Institute of Western Australia (REIWA) is satisfied that the current state government has given its word not to add any new taxes or raise existing ones should they be re-elected on March 11. REIWA president Hayden Groves said the commitment put forward by the Colin Barnett Liberal government would be a welcome relief for the state’s home…
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Perth, a haven for smart investors, so buy up says Momentum Wealth
Several recently released statistics are beginning to show that the Western’ Australia’s capital city Perth is fast becoming a hotspot for investors keen on parking their money in residential properties. The is because Perth is moving through the bottom of its current residential property cycle, providing opportunities to investors who may want to capture the full benefits of the next…
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REIWA kicks off state election campaign focusing on four policy reforms
Real Estate Institute of Western Australia (REIWA) launched its 2017 State Election campaign, which will roll out four key policy changes over the next three weeks to help put property issues on the agenda and stimulate activity in the market to help drive growth. REIWA president Hayden Groves said the institute had consulted with its members and identified four key…
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RealSatisfied and reiwa.com AgentFinder partner to help set higher standards in WA
RealSatisfied and reiwa.com AgentFinder have partnered to create an effortless way for West Australians to find trusted, credible and reliable real estate professionals online. RealSatisfied is a customer satisfaction platform which collects customer feedback at the close of a real estate transaction, founded in Australia and now a leading platform in the United States real estate industry. From February 2017,…
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Perth property market rises in December quarter
Perth’s median house price showed signs of strength in the December quarter, with the preliminary median for the three months to December 2016 holding firm at $520,000. Real Estate Institute of Western Australia (REIWA) President Hayden Groves said this preliminary figure was the same as the revised September quarter 2016 median house price. “It’s a very good sign for the…
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Increase to First Home Owner’s Grant and New Mine for WA: Hope for property market
WA’s State Government announced a $5.6 billion iron ore mine for the Pilbara Region, and combined with an increase in the First Home Buyer’s Grant, bringing the grant to $15,000, WA’s property market may have just the stimulus it needs to strengthen again. Perth-based Nicheliving, a real estate and property management company director Ronnie Elhaj said the $15,000 grant…
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Silver lining present, but hiding, in WA Outback market
Residential property markets in outback mining towns are struggling in the wake of the national mining and construction downturn. While a crisis for many, low prices present an opportunity for regional locals to access affordable property. The Australian yesterday published a story on the plight of residential property in the mining towns in the wake of a significant contraction in the…
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Perth’s median house price increases again in December: REIWA
Perth’s median house price increased by nearly two per cent in the three months to December 2016. REIWA President Hayden Groves said reiwa.com data showed the median house price had lifted 1.9 per cent to $535,000 over the three month period. “This is the second month in a row that we’ve seen an increase in the median house price, which…
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Perth real estate starting to bounce back: Raine & Horne
After a sequence of flat years due to the resource sector downturn, there are early signs Perth’s property market is turning a corner, according to leading real estate group, Raine & Horne. “Economic reports in January and February will set the tone for a 2017 rebound,” said Craig Abbott, General Manager WA, Raine & Horne. “The key factors we’ll be…
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WA housing affordability shows notable improvement over the year
Housing affordability in Western Australia experienced a minor decline in the September quarter, but has improved over the year, according to the latest Housing Affordability Report by the Adelaide Bank and Real Estate Institute of Australia. REIWA President Hayden Groves said the report showed that while the proportion of income required to meet loan repayments in WA had increased by…
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Tax reform on the agenda for REIWA’s State Election campaign
In the lead up to the 2017 State Election, REIWA will be campaigning for the reform of property taxes to help make home ownership a reality for more West Australians. REIWA President Hayden Groves said the Institute would be engaging with the WA community via surveys and polls throughout the campaign period. “It’s incredibly important that the local community have…
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REIWA Awards for Excellence 2016 Winners Announced
The Real Estate Institute of Western Australia hosted more than 400 real estate professionals at a formal dinner at Crown Perth on Wednesday night to recognise excellence in real estate. REIWA CEO Neville Pozzi said the awards provided the Institute with the opportunity to recognise and celebrate the very best in the industry. “This year, we received a record number…
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Perth Leasing Market Spikes, REIWA
The Perth property market saw a surge in the number of leased properties in August, with a 17% spike recorded by the REIWA. According to reiwa.com data, the jump in leasing activity for the month was coupled with a 3% drop in the number of properties available for rent. REIWA President Hayden Groves says the rental market in Perth has…
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Secrets to success from WA’s home grown real estate heroes
The recent Home Grown Heroes seminar in Perth featured the stories of several successful WA agents – some have overcome hardships and rebuilt their lives and others have quickly carved out successful careers. Here, we look at three of those speakers and reveal their secrets to success. Lara Sadowski, Geraldton Property Group Despite a long string of setbacks in her…
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ADL Software in WA delivers new electronic sales contracts
Residential Sales Contracts are now available as part of ADL’s WA Residential Sales Package. Two new contracts available are designed for ease of use and to provide certainty in real estate transactions. The two contracts available are the Contract for the Sale of a Residential House and Land and Contract for the Sale of a Residential Lot in a Strata Title…
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First National supports community by renewing Wildcats partnership
First National Real Estate and the Perth Wildcats have extended their long term partnership for at least another three seasons. Since 2012, First National has been the Perth Wildcats partner, dedicated to promoting the value of teamwork and supporting the local community. Two-time championship head coach Trevor Gleeson has also re-signed up with the Wildcats for three more seasons. First…
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REIWA: Pockets of positivity in Perth’s challenging rental market
Perth’s North East sub-region was the stand out performer in the Perth rental market in the June 2016 quarter, recording a 4.7 per cent increase in leasing activity. REIWA President Hayden Groves said while the number of leased properties in the overall Perth market for houses and units declined 5.2 per cent in the June quarter, it was pleasing that…
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Chinese Developer Sets New Record with $30.8 Million Box Hill Purchase
Neighboring not-for-profit organisations – Navy Health and Scope – have sold their adjoining Box Hill properties for just over $30 million to a single Chinese developer, setting a new record of almost $12,000 a square metre of land. According to Savills State Director Clinton Baxter, who brokered the sale of the 2,650 square metre site with Director, Nick Peden, and…
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Mandurah Large Format Retail Centre Sold for $13m
A high profile, large format retail centre at the gateway to Mandurah – Western Australia’s fastest growing city – has sold for $13 million through Knight Frank and Raine & Horne Mandurah. The successful purchaser was the well-established Perth based investor and syndicator Sullivan Property Consultants. Located on the corner of Mandurah Terrace and Mandurah Road at the northern entrance…
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