Archive for the ‘Real Estate’ Category

Make your offer stand out

A recent dealing with a buyer we met got me thinking about how buyers typically approach negotiations when looking for property. Most are tempted to eagerly point out the property’s apparent – and often obvious – faults. Buyers often ‘talk down’ the home’s benefits and focus on its shortcomings in an apparent precursor to justify an initial low offer.

Pointing out a property’s faults or … Read the full post »

Buying Off the Plan

Since the State Government released its Directions 2031 planning policy, local governments have grappled with planning their cities and towns in a manner that emphasises infill development rather than urban sprawl. This is no easy task (take, for example, the community reaction to the City of Subiaco’s planning policies) given our proclivity for a back yard of our own.

However, in-fill we must. Thankfully, there … Read the full post »

Buyers Competing

By Hayden Groves

Property listings in the Greater Fremantle area are down 34 percent on this time last year and with sales volumes up by a similar margin, it is hardly surprising that buyers 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 … Read the full post »

Is the Property Boom On?

After predicting the bottom of the market in 2017, I put that crystal ball out for verge collection and got myself a new one. Local property values have been dribbling along a very long bottom since 2015 with 63 consecutive months of negative or flat growth since that time. Buyers had been hard to find with 2018 and 2019 returning the lowest levels of sales activity for thirty … Read the full post »

Time to Invest?

As predicted, the McGowan government’s decision to extend the emergency response provisions of the Residential Tenancies Act (RTA) for a further six months has helped shape a rental shortage into a rental crisis.

The potent combination of subdued investor activity for several years, massive foreign investment taxes, subdued yields and capital value losses has combined with strong repatriation demand from West Australians returning home. The … Read the full post »

Getting Back Your Bond

When taking on a residential tenancy, it is common for the owner to require the tenant to pay a security bond an amount normally equivalent to four weeks’ rent. 

The bond must be paid to the government Bond Administrator, a specific government managed trust account. There are severe penalties for those that fail to comply with this provision. Obviously, the purpose of the bond is … Read the full post »

Blame Me

By Hayden Groves

Several years ago, local real estate agent (now retired) Peter Sim, boldly ran full page advertisements in the local press headed, “Blame Me.” Why Peter was standing in his suit up to his ankles in the Swan River, I couldn’t tell but the message was on point; an agent acting for a client (the Principal) must take responsibility even when things go … Read the full post »

Five reasons why apartments are better than houses

Apartment living offers the mixture of a hassle-free lifestyle, convenience and security that the ownership of a house cannot match.

Buying a unit is also comparatively cheaper because it does not come with the cost of purchasing – or maintaining – an entire block of land.

Many people are turning their back on detached houses because they come with the responsibility of … Read the full post »

McGowan Makes Mistake

Late last week, the McGowan government extended the Emergency Response provisions of the Residential Tenancies Act for a further six months.

Unfortunately, this decision has nothing to do with protecting tenants impacted by COVID-19 as proven by the fact less than two per cent of residential tenancies are affected.

To date, the conciliation service provided through the Department of Consumer Protection, set … Read the full post »

Perfect Time to Buy or Rent

The Real Estate Institute of Australia released their quarterly Housing Affordability Report last week revealing that WA remains the most affordable state in the nation to buy property. The proportion of family income required to meet mortgage repayments in WA fell last quarter to 24 per cent, down by 0.7 per cent from last year.

By comparison, New South Welshers commit an eye-watering 42.3 per … Read the full post »

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