THE LOCAL MARKET
REIWA is reporting there were 3,266 properties for sale in Perth last week, a slight decrease of 0.6 per cent from the previous week. This stability is due to house listings remaining similar to the week prior, a 1.8 per cent increase in unit listings, and a 6.3 per cent decrease in listings for vacant land. The total number of properties available for sale is 3.9 per cent higher than four weeks ago but still a significant 36.9 per cent lower than the same period last year.
REIWA is reporting a total of 841 transactions last week, with sales declining by 1.1 per cent compared to the previous week. House sales were down by 7.5 per cent, unit sales remained similar to the week prior, while land sales saw a significant increase of 70.4 per cent.
At White House we were pleased to have successfully negotiated and secured contracts on FOUR properties last week.
With the price of homes increasing at a record rate, we are seeing the demand for units increase. With 4 offers in competition, Connie Handcock negotiated a complex record cash offer on 3/1A James Street, Fremantle. As Fremantle’s Number 1 Agent, Connie also successfully negotiated the sale of the unique West End loft at 28A Mouat Street, Fremantle.
At Auction last Saturday, in front of a large crowd, following competitive bidding we were thrilled to bring down the hammer at 24 Wichmann Road, Attadale for some lucky buyers. Thank you to our sellers for entrusting us with the sale of this generational home which has been secured by a lovely local family. We are honoured to have been able to play a part in this property’s story. Carlie Baker also with the support of Katie Anderson successfully negotiated multiple offers to secure a contract for 9A Rivett Way, Brentwood.
THE RENTAL MARKET
In the rental sector, there were 2,518 properties available for rent, a marginal increase from the previous week. This figure is 3 per cent lower than four weeks ago but 34.4 per cent higher than a year ago, indicating a more balanced rental market with an increased supply of rental properties.
REIWA members reported 637 properties leased last week, a 9.9 per cent decrease from the previous week. This figure is 1.1 per cent lower than four weeks ago but 9.3 per cent higher than a year ago.
The slight increase in rental listings week-on-week, coupled with a significant year-on-year increase, suggests that the rental market is improving for tenants, potentially stabilising rental prices.
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;
FREMANTLE
The most desirable modern Harbourside lifestyle awaits you here at the fantastic “Heirloom” complex, where you’ll find this stylish and sleek one-bedroom one-bathroom apartment at 161/51 Beach Street. This apartment is perfectly located for you to take advantage of the vibrant and limitless lifestyle Fremantle has to offer. Stroll down to Gesha Coffee Co, or the explore the iconic restaurants, pubs and bars that South Terrace has to offer – the apartment is full of opportunities on your doorstep. The apartment is available for lease soon for $595 per week, with a 12 month tenancy period preferred. The property will be leased fully furnished – however not equipped. Applications are accepted via 2Apply.
FREMANTLE
Built in 1898, this unique 2 bedroom 1 bathroom residence with secure parking at 2/8 Collie Street is the ideal home – right in the heart of central Fremantle, opposite the beautiful Esplanade Park and within footsteps of glorious Bathers Beach, the Fishing Boat Harbour and so much more. This property is available lease soon for $750 per week, with a minimum 12-month lease preferred. Applications accepted through 2Apply.
FREMANTLE
Discover the serenity of this stunning two-storey townhouse at 4/7 Malcolm Street, designed to offer a peaceful retreat with modern elegance. Boasting soaring ceilings and expansive, open-plan living spaces, this home is bathed in natural light thanks to its north-facing orientation and impressive banks of steel and glass. Overlooking secluded, lush gardens, it’s a sanctuary away from the bustle of urban life. Experience the perfect blend of comfort and style in this exceptional townhouse! This property is available for lease from the 16th of August 2024, for $770 per week, with a preferred 12-month lease. Applications accepted through 2Apply.
SOUTH PERTH
This wonderful 2-bedroom, 1-bathroom apartment offers the perfect blend of comfort and convenience at 12/16 Hensman Street. The complex at 12/16 Hensman Street offers several amenities, including onsite bike storage, two bin rooms, two washing lines, and an outdoor common facility toilet. This property is available to lease from the 17th of September 2024, for $600 a week, with a preferred 12-month lease. Applications accepted through 2Apply.
