WA Real Estate News
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Refinance time slashed in WA with new technology
The WA banking industry deadline for a new paperless refinancing era starts from 1 December 2017. It’s the compliance date marking when refinance transactions move online. Home owners looking to refinance, for example, in the event that interest rates rise, will now benefit from faster refinance times. The transactions are completed through Property Exchange Australia’s (PEXA’s) digital platform. Mike Cameron,…
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REA Group expands Perth presence with new Subiaco office
The office mirrors the design of other REA Group spaces around Australia, with a focus on flexible working and creative environments. The new office has an urban industrial feel and popular Western Australian landmarks adorn the walls and double as names for meeting and quiet rooms. The office will house a growing workforce of REA Group staff across Residential, Developer…
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40 per cent of Perth suburbs have limited housing supply for sale
“1.3 per cent of the 818,000 properties across Perth are listed for sale, however when take a closer look, 95 suburbs have listing levels below this. While some of these suburbs have marginally less choice than the overall Perth average, others have significantly less,” Mr Groves said. Reiwa.com data shows Nedlands and Greenwood are the most undersupplied suburbs in Perth,…
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Vivien Yap joins the Ray White group
“Growth is the oxygen for a business like ours that has been growing for over 115 years. My family and I are excited to welcome Vivien Yap and her team to our business.” Ray White Western Australia chief executive officer Mark Whiteman also extended a warm welcome to Ms Yap and her team to the WA network. “There are moments…
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The worst is over for Perth property market: REIWA
REIWA President Hayden Groves says conditions in the September quarter had mirrored those experienced in the June quarter, which indicated the Perth property market may have finally found its floor. “We’ve observed six months of stable conditions, with both the June and September quarters posting consistent results. Historically, before a market improves there is a sustained period of level stock,…
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Perth real estate agent rocking up a storm
The Ray White City Residential selling principal and auctioneer approached up and coming Perth band Tangent to help him rock out a property music video. Tangent had been rehearsing at the property at 30 Conochie Cres, Manning for some years. Band leader David McSweeney said he was excited when Mr Compton approached the band to help him market the tidy red…
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REIWA Information Service in high demand from tenants, landlords, buyers and sellers
REIWA Chief Executive Officer Neville Pozzi said the volume of calls placed to the REIWA Information Service so far in 2017 had exceeded those received at the same time last year. “The REIWA Information Service provides West Australians with direct access to local experts in the real estate industry who can educate them on areas they are unsure about and…
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Perth real estate agent holding a 24 hour open home
Ray White City Residential Perth principal Brent Compton will host the marathon open at three brand new East Perth waterfront apartments, kicking off from 2pm Saturday. The high end units range in price from $6.250 million to $8.5 million at 11 Brown St, East Perth. “I am definitely the first Ray White agent to do this in Western Australia,” Mr…
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Haydn Groves reappointed REIWA president
The REIWA governing Council has re-elected Hayden Groves as the Institute’s President after his term officially ended in September. REIWA CEO Neville Pozzi offered his congratulations to Mr Groves on his re-election. “Mr Groves has provided exceptional leadership to the Institute over the last couple of years, and I’m delighted to have him on board for REIWA’s 2018 centenary year,”…
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Raine & Horne’s Anthony Vulinovich named WA’s best commercial agent
“There are many hundreds of commercial sales agents in Western Australia, so this is a terrific win for Anthony and testament to his hard work and strategic commitment to selling commercial real estate over many years,” said Terry Menage, Director, Raine & Horne Commercial WA. “Anthony’s point of difference is that he has undertaken a great deal of pre-sale work…
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Buy-Rent Index determines the best time to buy or rent in Perth
The Index, which will be released on a quarterly basis, is based on formulated economic assumptions that help identify the annual house price growth rate required for home ownership to be financially advantageous over renting. The June quarter 2017 figures indicate the median house price in Perth would need to appreciate by 4.3 per cent annually over the next 10…
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Ray White and Loan Market WA Awards celebrate the state’s high achievers
Ray White WA CEO Mark Whiteman and Loan Market State Director Ken MacLennan opened the evening with a clear message of an integrated future for the two arms of the White Family group. “The 2016/17 year saw plenty of challenges in the market with sales volumes down yet again on last year, but surprisingly the groups managed to navigate the…
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WA State Budget a positive for property investing, say Momentum Wealth
The WA Labor government have delivered their first state budget, and as Treasurer Ben Wyatt and Premier Mark McGowan have previously indicated, the burden of amending the State’s financial situation will be indirectly shared by all West Australians. However, from a property investment perspective, the budget was relatively positive as there were no direct increases to property costs for residents…
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Perth’s stable house and rent medians good news for the market: REIWA
REIWA President Hayden Groves said it was encouraging to see the median price remain firm across both sectors of the Perth property market. “The stable medians are good news and indicate that seller’s and landlord’s expectations are matching those of buyers and tenants,” said Mr Groves. According to the latest reiwa.com data, listings for sale have continued to trend marginally…
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Perth’s 10 cheapest suburbs within 10km of the CBD revealed
REIWA President Hayden Groves said there was great opportunity for Perth home buyers close to the city. “Buyers in Perth really are in an enviable position. It’s unheard of in other parts of Australia, particularly in Sydney and Melbourne, for buyers to be able to purchase a house close to the city for less than $530,000. “We are very lucky…
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Affordable housing south of Perth is key to real estate turnaround: Raine & Horne
That’s according to Craig Abbott, General Manager WA, Raine & Horne, who says the availability of affordable homes south of Perth with good rental yields will assist in getting the market back on track. “There is plenty of news suggesting that Perth’s real estate market is in a rebalancing phase,” Mr Abbott said. “I think it’s too early to call…
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Ray White wins Top Franchise Group in WA at REIWA.COM Awards
More than 700 real estate professionals and guests attended the 2017 reiwa.com Awards Ball at Crown Perth on Saturday night, which celebrated WA’s leading real estate agents and recognised them for their achievements in 2016-17. Ray White WA chief executive officer Mark Whiteman said he was delighted his network won the top honour at the esteemed REIWA.COM awards. “This is…
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Perth rental market subdued in June qtr, annual leasing figures remain strong: REIWA
REIWA President Hayden Groves said although activity had dropped off across the metro area in the three months to June, annual activity levels had continued to improve. “The data for the June quarter 2017 clearly shows an uptick in activity on an annual basis across the board, which is pleasing. We’re seeing notably more properties being leased now than we…
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REIWA calls for tax reform in 2017-18 State Budget
In its 2017-18 pre-budget submission, REIWA has cautioned the Treasurer against targeting the property sector with increased taxes, recommending they introduce incentives for first home buyers of established properties and seniors over the age of 65 to help raise much needed funds for the State. REIWA President Hayden Groves said this was not the time to consider raising property taxes,…
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First Home Owner Grant discriminates against buyers wanting to enter the established market
REIWA President Hayden Groves said first home buyers who wanted to buy an established home were being discriminated against and as a result were finding it increasingly difficult to enter the WA property market. “Housing affordability remains a significant issue for many West Australians. We should be making it easier for all first home buyers to enter the market, not…
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REIWA partners with CoreLogic to provide recent WA sale data
A new partnership between REIWA and CoreLogic means the recent sales results reported on reiwa.com will now appear within RP Data Professional, giving agents access to accurate data within one of Australia’s best property data and analytic platforms. CoreLogic CEO Lisa Claes said the partnership was in works for a number of years. “We are absolutely delighted that now our…
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REIWA: Perth market showing signs of stabilising
REIWA President Hayden Groves said that, while conditions remained softer, there were some positive indications the market had finally begun to settle. “We’re certainly not experiencing the steep declines across the board we once were. Although no one can accurately ascertain the future of the property market, the signs are there that we have finally found, or be very close…
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‘Long overdue’ WA strata title reform welcomed by leading industry bodies
The Western Australian State Cabinet decision to move forward with the strata title reform process has been commended by the Real Estate Institute of Western Australia, Strata Community Association WA, Property Council of Australia and Urban Development Institute of Australia WA. Announced yesterday, the Honorable Rita Saffioti MLA said strata title reform was important to the future housing needs of…
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New $270 levy for WA investors is irresponsible, REIWA
REIWA has slammed talk of introducing a $270 levy for investors as a means to help raise revenue and fix the State Budget as short sighted and irresponsible. REIWA Councillor Suzanne Brown said it was extremely disappointing the industry was not consulted about this policy change. “The private rental market is crucial to the provision of rental accommodation in WA,…
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WA heads towards deadline for mandated online property settlements
The WA land registry, Landgate, has announced a timeline for taking property transactions online, with a view to 100 per cent of transactions going digital. Deadlines for implementation of online transaction requirements apply to WA settlement agents in August, October and December 2017 for phasing in mandatory electronic settlements. Property Exchange Australia – PEXA – is the system that has…
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Ausnet expands its foothold by acquiring Beaufort Realty
ASX-listed Ausnet Financial Services Limited is expanding its reach in Western Australia with the acquisition of Mount Lawley real estate agency, Beaufort Realty. Ausnet’s wholly-owned subsidiary, Ausnet Real Estate Services entered into a share sale agreement to acquire all of the issued shares in Beaufort Realty from its shareholders Jonathan Adams and Pamela Herron, Christine Kirkness and Dosta Buckovska. The exchanged…
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Tougher home lending conditions not the answer for WA
The Real Estate Institute of Western Australia (REIWA) and Urban Development Institute of Australia WA Division (UDIA WA) have slammed talks of authorities wanting to tighten home lending conditions across the country. REIWA President Hayden Groves said this was a knee-jerk reaction to market conditions on the east coast, in particular, the Sydney and Melbourne markets, and did not take…
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Purplebricks launches into Perth’s real estate market
Flat fee real estate agency Purplebricks has landed on West Australia shores and commenced trading on Monday. The UK-headquartered real estate tech disrupter which charges a flat fee of $4,500 for any home sale transaction said it expects to save residents in Perth close $10,000 per sale in commissions, giving locals the first ever alternative to expensive commission fees when…
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First National Real Estate WA recognises its top agents
First National Real Estate’s Western Australian agents were recognised with general excellence and marketing awards at the Perth Flying Squadron Yacht Club last week. The awards brought recognition to the best of Western Australia’s real estate performances throughout last year, which according to First National WA chairman, Allan Griffiths, contributed to the company winning the Canstar Blue’s ‘Most Satisfied Customers’…
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REIWA wants Labor to do more in addressing housing affordability in the state
The Real Estate Institute of Western Australia (REIWA) hopes the new Western Australian Labor-led government would look at more ways of addressing housing affordability. REIWA President Hayden Groves said it is important in particular for Labor to address the barrier state property taxes, like transfer duty and land tax aggregation rules, have on the buying and investing decisions of the…
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REIWA: February Sales Activity Increases In Perth
Sales activity in the Perth metro region rose in February, with the Real Estate Institute of Western Australia (REIWA) data showing that volumes were up by eight percent compared to January. REIWA president Hayden Groves said the improve activity in February was welcoming after the traditional lull between the Christmas and New Year holiday period. “It’s good to see buyers…
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REIWA and COTA commend Barnett Government for committing to $15,000 concession for WA seniors
The Real Estate Institute of Western Australia (REIWA) and Council on the Ageing (COTA) have come together to campaign for transfer duty reform for the elderly, and have welcomed the Barnett government’s announcement that it will commit to a $15,000 transfer duty concession for seniors if re-elected. REIWA president Hayden Groves said he was happy that the current state government…
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REIWA says Labor’s new proposed property tax will hurt WA
The Real Estate Institute of Western Australia (REIWA) is unhappy with the Australian Labor party’s plans of wanting to tax foreign buyers in the future. REIWA president Hayden Groves in a statement on Monday said he was surprised by the additional tax charge for foreign buyers was announced by Labor reps on Sunday. as it was done without seeking the advice from…
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Elders real estate foot print expands, plans to acquire prominent WA agency
Elders, now in its 177th year, has announced that it has entered into an agreement to acquire the Southern Districts Estate Agency (SDEA) headquartered in Bunbury. Established more than 40 years ago as a rural real estate and auctioneering business, SDEA is a leading residential and commercial real estate agency operating from three locations in the South West region of…
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REIWA CEO celebrates 40 years in the job and reflects on evolution of Perth property market
The Real Estate Institute of Western Australia (REIWA) longest running employee and CEO, Neville Pozzi, is amazed at how the Perth real estate market had transformed since he started working for the association 40 years ago. “When I began at REIWA in 1977 as an accountant, Perth’s median house price was just $33,800. A far cry from the prices we…
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