WA Real Estate News
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Perth home values continue to climb in first half of 2021
Perth home values increased seven per cent in the first half of 2021, according to the Real Estate Institute of Western Australia (REIWA). REIWA President Damian Collins noted while the Perth home value index for June had only increased 0.2 per cent, the cumulative growth over the first six months of the year had been substantial. “Although the June price…
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Micro-nation Hutt River hits the market for the first time in 50 years
If you’re looking to find a safe haven from lockdowns, you might be in the market for an entire micro-nation. The historic Hutt River Province in Western Australia (WA), which once operated as a sovereign micro-nation complete with its own stamps and currency, has hit the market. Located 40km north of Northampton in WA’s North, the property comprises more than…
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Realestate 88 principal qualifies for REIWA Hall of Fame as a triple award winner
The Real Estate Institute of Western Australia (REIWA) awarded Realestate 88 Inner City Principal Brendon Habak the Top Residential Sales Agent of the Year 2021 for the third year running. Last month’s ceremony saw Mr Habak grace the stage for the third time in a row, as he took out the major REIWA award. Mr Habak was rewarded for going…
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WA extends its rent relief scheme
The WA State Government has extended the Residential Rent Relief Grant Scheme (RRRGS) which aims to help tenants facing financial hardship.
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235 Perth suburbs have median rents below their peaks
The Perth rental market is significantly more affordable than it used to be, with reiwa.com analysis showing 235 suburbs had median house rents below their peak prices in May 2021. REIWA President Damian Collins said the vast majority of Perth suburbs were more affordable for tenants than they used to be. “reiwa.com analysis shows 201 of the 235 suburbs had…
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Sales double in Perth suburbs as first-home buyer activity ramps up
New sales data reveals 10 Perth suburbs have more than doubled their sales volumes in the past year. The Real Estate Institute of Western Australia (REIWA) confirmed the March quarter saw strong sales growth across Perth. There was a 31 per cent increase when compared to the March 2020 quarter, but 10 suburbs stood out with more than 100 per…
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2021 REIWA Awards for Excellence winners announced
More than 400 Western Australian real estate professionals attended the REIWA Awards for Excellence at Crown Perth on Friday 21 May to celebrate and acknowledge the industry’s best and brightest.
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REIWA predicts state’s property values to climb higher than first thought
The Real Estate Institute of Western Australian has revised its growth predictions for the state’s property market, with its new forecast tipping values will rise by 15 per cent this year.
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Perth properties selling at fastest rate in 15 years
Properties in Perth are selling at a faster rate than they have for 15 years, according to Real Estate Institute of Western Australia data for March.
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First National recognises best in the west at WA 2020 GEM Awards
First National Real Estate’s Western Australia agents have been recognised for their achievements, with the network holding its WA 2020 General Excellence and Marketing Awards at Crown Perth on Friday night.
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REIWA welcomes end of moratorium on evictions and rental price increases
The Real Estate Institute of Western Australia has welcomed the looming end of the WA Government’s moratorium on evictions and rent price increases, with the Residential Tenancies (COVID-19 Response) Act 2020 due to expire on Sunday.
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Perth listings at 10-year low after dipping below 8000 in February
Listings for home sales in Perth dropped to a 10-year low in February, with fewer than 8,000 properties listed for sale on reiwa.com in the West Australian capital at the end of last month.
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REIWA calls on parties to prioritise rental shortages
With Western Australia’s state poll less than a month away, the REIWA is trying to put the state’s rental shortage at the top of the political agenda.
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Perth vacancy rate drops again, heading towards a forty-year-low
The residential vacancy rate in Perth has dropped again, now sitting at 0.95 per cent.
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The Pilbara agent on the cutting edge of technology
The ‘online auction guy’ – that’s what buyers and sellers in the Pilbara region are calling Realmark Karratha agent Jordan James. Jordan has been using digital property sales method
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Housing prices rise in WA’s regional centres
Western Australia's regional centres are in high demand, as eight of nine areas saw an increase in median sale price for the September 2020 quarter.
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REIWA declares ‘rental crisis’ as Perth vacancy rate hits 13-year low
Perth's residential vacancy rate has fallen to 0.96 per cent, the lowest it has been in 13 years.
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WA’s social housing plan to alleviate rental crisis
A ten-year plan to create 2,600 affordable houses across Western Australia will hopefully ease the "rental crisis" that the state looks likely to experience.
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Perth houses selling twice as quickly as last year
As yesterday's ANZ/Property Council survey showed, Western Australia's property industry is the most positive in the country, and with very good reason.
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WA property industry the most positive in Australia
The WA property industry has the most positive outlook in Australia according to the ANZ/Property Council survey for the December 2020 quarter. Overall sentiment increased to 107 index points for the quarter, a 25 point increase on the previous period. This was the largest quarterly increase in sentiment for any…
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Perth rental listings hit eight-year low
Rental listings in Perth continued to drop in September.
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REIWA point to Qld’s example as the way forward for WA
REIWA President Damian Collins has commended the Queensland Government's handling of the COVID-19 legislation
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REIWA: Dwindling vacancy rate “a recipe for disaster”
In two months, Perth’s vacancy rate has dropped from 2 per cent to 1.3 per cent, and the Real Estate Institute of Western Australia expects this figure to keep dropping – a situation they are dubbing “a recipe for disaster” for tenants looking for a rental property. “The McGowan Government’s short-sighted decision to extend the emergency period for all tenancies…
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All the winners from the 2020 reiwa.com awards
Western Australia's real estate professionals came together to celebrate the industry's best at the 2020 reiwa.com Awards Ball held at Crown Perth on Saturday 12 September.
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REIWA ‘extremely disappointed’ by extension of rental emergency period
REIWA is extremely disappointed with the WA Government's decision to extend the emergency period tenancy.
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REIWA’s post-COVID prosperity plan
“It’s clear that the property industry needs stimulus to attract buyers and investors back into the market.” That’s the message from Real Estate Institute of Western Australia, who have delivered a prosperity plan to the WA Government that they believe will set the state on the road to recovery. Below is an outline of the plan. Reform stamp duty to…
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Perth rentals moving the fastest since 2015 mining boom
In August 2019, it took a median of 34 days to lease a property in the Greater Perth region. This August, it only took 21 days, meaning that properties are turning around two weeks’ less than this time last year. Reiwa.com data shows this is the quickest uptake rate since the last mining boom in February, 2015. The median rent…
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REIWA says east coast property woes won’t impact WA
Despite property woes in capital cities across the east coast, Real Estate Institute of WA (REIWA) president Damian Collins cannot see Western Australian property prices following the same trend. “Any agent in Perth they will tell you they are reasonably optimistic because stock is selling at better prices than six months ago,” he said. “Our days on market are down…
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RE/MAX appoints Business Growth Manager
After the successful transition of WA offices into its national network, RE/MAX Australia this month announced the appointment of experienced real estate professional Donna Goddard to the corporate team. Ms Goddard is Perth-based in the role of Business Growth Manager, WA. She has longevity in the Australian real estate landscape with around 12 years as an advertising director with News…
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Perth vacancy rate drops to a 12-year low
The Perth rental market’s vacancy rate has dropped to 1.6 per cent, the lowest rate since March 2008. The Real Estate Institute of WA (REIWA) warns that a vacancy rate of around 3 per cent strikes the ideal balance between supply and demand, but there are currently 50 per cent less properties for rent on reiwa.com than in July, 2019…
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Perth sales activity increased 68% from April low
Despite the value of homes dropping across Australia, sales activity in the Perth metro region increased by 68 per cent in July compared to April. According to REIWA data, the increase was across both dwellings and land sales. “While there are no surprises with the increase in land sales for the month, which saw a 121 per cent increase compared…
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REIWA: Emergency period tenancy legislation “needs to end”
As the ACT becomes the first state or territory to extend its emergency period tenancy legislation, Damian Collins, president of the Real Estate Institute of Western Australia (REIWA), has said there is no need for the legislation to be extended in Western Australia. Mr Collins believes the legislation should end as initially planned, on September 29, 2020. “The emergency legislation…
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Pets, provisions, periodic leases: the proposed changes to WA Residential Tenancies Act
Ahead of an upcoming review of the WA Residential Tenancies Act, REIWA has released a list of policy options they hope will “help reinvigorate the rental market”. While they state that few aspects of the current rental legislation require “a complete overhaul” and that it is “generally working well,” they have outlined the below seven key policy options: Maintain the…
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$116m land package to benefit regional WA
A new package aimed at stimulating real estate investment in regional Western Australia will be rolled out over the next few weeks. The McGowan government announced the $116 million Regional Land Booster package with the goal of “boosting the economy, creating regional jobs and assisting regional businesses to recover from the impacts of COVID-19”. “The Regional Land Booster package will…
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REIWA joins call to remove stamp duty
Following on from last week’s Thodey Report, which recommended that NSW stamp duty should be replaced by land tax, REIWA has called upon Western Australia to do the same. “Described in the report as an ‘unfair and damaging tax’, stamp duty is the wrong tax for rebuilding the State Governments’ capability to deliver for its citizens – clearly this also…
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