THE LOCAL MARKET
As expected, the number of properties coming to market post-winter school holidays is continuing to increase. REIWA is reporting that there were 3,286 properties for sale in Perth on Sunday 24th July, marking a 1.8 per cent increase from the previous week and 1.3 per cent higher than four weeks ago. This rise includes a 4.7 per cent increase in house listings and a 1.4 per cent increase in unit listings, while listings for vacant land decreased by 9.9 per cent.
Despite the week-on-week increase, the total number of properties available for remains 37.7 per cent lower than the same period last year. This trend indicates a continued limited supply, which is likely to point to continued competition and potential price growth.
Last week, Perth saw a positive shift in sales transactions, which were up by 8.8 per cent compared to the previous week, however until we see significant increases in stock coming to market, supply is likely to remain tight as buyers continue to compete for properties.
At White House, we successfully negotiated and secured contracts on THREE properties this week.
After less than one week on the market, Georgia Hagan negotiated multiple offers in competition to successfully agree a contract on 15/1 Forrest Street, Fremantle. We are thrilled for both our buyer and seller who are very pleased with the result.
Family homes are continuing to be in high demand. With 6 offers in competition, Connie Handcock negotiated a cash offer on 34 Simper Crescent, White Gum Valley after just one week on the market.
After just two home opens, 8A Edmundson Street, Beaconsfield went under offer thanks to Louise Pope’s negotiation skills. Our sellers and buyers are thrilled with the outcome.
THE RENTAL MARKET
In the rental sector, there were 2,568 properties available for rent, a slight decrease of 1 per cent from the previous week. This figure is 1.7 per cent higher than four weeks ago and 29.4 per cent higher than a year ago, suggesting an easing rental market with more options for tenants.
REIWA reported 642 properties leased last week, a 2.9 per cent decrease from the previous week. This is 6.4 per cent lower than four weeks ago but 6.3 per cent higher than a year ago.
The relatively steady number of rental listings available, coupled with a year-on-year increase, indicates movement towards a more balanced rental market.
If you have been considering leasing your property or would like to know more about leasing your property, please get in touch with Monique Malarowski on 0418 228 524 monique@whitehouseproperty.com.au or Veda Spence on 0499 171 457 veda@whitehouseproperty.com.au.
And if you’re a prospective tenant we have FOUR new properties available for lease;
APPLECROSS
Welcome to 70 Matheson Road! This wonderful, modern top-floor apartment with two bedrooms and a spacious bathroom offers an ideal rental opportunity. This apartment is perfect for renters looking for a great lifestyle. It’s conveniently located near the Swan River, the vibrant Applecross Village café strip, and several public transport routes. This property is available for lease soon, for $680 per week, with a preferred 12-month lease. Applications accepted through 2Apply.
BEELIAR
Nestled on a quiet street and within easy reach of all amenities, this modern and spacious two-storey family home at 3 Fairywren Trail is perfect for comfortable living. Daily life centres around the open-plan living space on the lower level, seamlessly connecting to the outdoor entertaining area. Local supermarkets, cafes, parks, sporting fields, and shops are all within easy reach, and Fremantle’s centre is just 15 minutes away. This property is available for lease from August 16th, for $1,100 per week, with a preferred 12-month lease. Applications accepted through 2Apply.
FREMANTLE
The Fremantle spirit of connectedness, community and creativity found new architectural form at 7/46 Knutsford Street, in an award-winning mix of terraces and apartments in a vibrant precinct at the edge of the port city. The two-bedroom, two-bathroom apartment is the perfect spacious, modern apartment that satisfies your needs and beyond. Great design, excellent location and a very friendly, neighbourly atmosphere makes this apartment feel like home. This property is available for lease from August 2nd, for $780 per week, with a 12-month lease. Applications accepted through 2Apply.
HAMILTON HILL
Nestled in a quiet cul-de-sac, 14 Bickford Place is perfect for those who love extra outdoor space or enjoy entertaining year-round. The home includes two bedrooms with built-in robes and ceiling fans, ensuring comfort throughout the year. The large kitchen comes with a pantry, offering plenty of space for storage, and the European laundry is both convenient and efficient. The home offers the perfect blend of comfort, convenience, and space! This property is available for lease from September 3rd, for $620 per week, with a preferred 12-month lease. Applications accepted through 2Apply.
