Latest News

Computer Valuations a Problem

At REIWA’s Fremantle Branch meeting this week, prominent local agents raised concerns over the growing number of computer generated property valuations being promoted on line and in mainstream media.

The big banks have joined in recently with ANZ promoting its on-line valuation tool suggesting … Read more »

HOW TO BUY REAL ESTATE

With buyers coming back into the market, many are tempted to eagerly point out the property’s apparent – and often obvious – faults. When purchasing a property, buyers often “talk down” its benefits and highlight its shortcomings in an apparent precursor to justify a lower-than-reasonable offer to purchase.

Buyer ought to … Read more »

The Agents’ Fees

Cheap and (not so) cheerful “no commission” agency model, Purple Bricks was in the news again this week advising that their standard fee will be now be close to $9,000, up from their original offering of $4400. The fee gap between using a … Read more »

Assessing the Median – Fremantle Real Estate Agents

According to REIWA, Perth’s median house price crept up to $520,000 for the June quarter with an expectation it will moderately rise again by the end of this year. But does this necessarily mean that property prices are rising in real terms? The answer might be “yes” but it can … Read more »

NEW VIC TENANCY LAWS TO DRIVE UP RENTS

These comments are the writer’s own and do not necessarily reflect the current opinions and policies of the Real Estate Institute of Western Australia.

The Victorian State government recently announced changes to residential tenancy laws that will inevitably limit property investment and drive up rents…. Read more »

GET YOUR PRICE RIGHT OR PAY THE PRICE

More often than not, vendors believe their property is worth more than a market consensus of a fair price. Opinion of market value for property is largely a subjective exercise; various agents will often have differing views of market price, friends and relatives have their own opinions as does the … Read more »

FIND EVERY BUYER

I received an agent’s flyer in my letterbox on the weekend boasting about an “off market” sale. I’m sure the seller is pleased with the result the agent achieved for them and they didn’t need to endure countless home opens and potentially weeks of uncertainty…. Read more »

Buying in Competition

As market conditions improve, buyers will often find themselves making an offer to purchase in competition with others.

Agents have differing approaches as to how to deal with multiple offers but normally will inform buyers that their offer is one amongst others. When … Read more »

Local Market Update

The latest numbers from Landgate and the Real Estate Institute reveal the number of property transactions throughout Perth were a disappointment after a promising start to the year. Volumes remain remarkably low compared to the fifteen year average. Overall, sales volumes are tracking marginally below that of 2017 (which was … Read more »

NEGATIVE GEARING MUST STAY

Limiting negative gearing to newly constructed property and doubling capital gains tax remains a central plank of federal Labor’s policy platform, their argument being that the current rules lead to inequality in the community.

Any plan to significantly alter the current negative gearing provisions … Read more »