WA Real Estate News
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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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Leasing activity rises in Perth for December quarter
Leasing activity in Perth has risen significantly with latest figures for the last December quarter showing improvement of 23.8 percent compared to the prior corresponding period. Real Estate Institute of Western Australia (REIWA) president Hayden Groves said its data showed all five sub-regions experienced notable increases in activity over that time. “While conditions in the rental market remain challenging, the…
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The Agency Appoints Stuart Cox as its new State Sales Manager for WA
Real estate industry veteran Stuart Cox has been appointed as the “The Agency’s” latest state sales manager for Western Australia, effective immediately. In this role, Cox would be tasked to work with The Agency’s Sydney office in implementing unified policies and procedures as well as assume the responsibility for recruiting, managing day-to-day affairs and working on improving the company’s business…
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Nesters Australia uses tech to sell clients properties with low-commission of 1.5 percent
A Perth-based real estate agency is saying they have worked out a strategy to help their client sells their homes quickly, with the lowest possible commission. Nesters Australia operates through a smartphone app, and only charges a commission of 1.5 percent while promising to secure the best possible price on the seller’s property. With the market conditions that have been challenging…
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REIWA welcomes state govt’s commitment not to increase or introduce new state taxes if re-elected
The Real Estate Institute of Western Australia (REIWA) is satisfied that the current state government has given its word not to add any new taxes or raise existing ones should they be re-elected on March 11. REIWA president Hayden Groves said the commitment put forward by the Colin Barnett Liberal government would be a welcome relief for the state’s home…
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Perth, a haven for smart investors, so buy up says Momentum Wealth
Several recently released statistics are beginning to show that the Western’ Australia’s capital city Perth is fast becoming a hotspot for investors keen on parking their money in residential properties. The is because Perth is moving through the bottom of its current residential property cycle, providing opportunities to investors who may want to capture the full benefits of the next…
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REIWA kicks off state election campaign focusing on four policy reforms
Real Estate Institute of Western Australia (REIWA) launched its 2017 State Election campaign, which will roll out four key policy changes over the next three weeks to help put property issues on the agenda and stimulate activity in the market to help drive growth. REIWA president Hayden Groves said the institute had consulted with its members and identified four key…
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RealSatisfied and reiwa.com AgentFinder partner to help set higher standards in WA
RealSatisfied and reiwa.com AgentFinder have partnered to create an effortless way for West Australians to find trusted, credible and reliable real estate professionals online. RealSatisfied is a customer satisfaction platform which collects customer feedback at the close of a real estate transaction, founded in Australia and now a leading platform in the United States real estate industry. From February 2017,…
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Perth property market rises in December quarter
Perth’s median house price showed signs of strength in the December quarter, with the preliminary median for the three months to December 2016 holding firm at $520,000. Real Estate Institute of Western Australia (REIWA) President Hayden Groves said this preliminary figure was the same as the revised September quarter 2016 median house price. “It’s a very good sign for the…
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Increase to First Home Owner’s Grant and New Mine for WA: Hope for property market
WA’s State Government announced a $5.6 billion iron ore mine for the Pilbara Region, and combined with an increase in the First Home Buyer’s Grant, bringing the grant to $15,000, WA’s property market may have just the stimulus it needs to strengthen again. Perth-based Nicheliving, a real estate and property management company director Ronnie Elhaj said the $15,000 grant…
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Silver lining present, but hiding, in WA Outback market
Residential property markets in outback mining towns are struggling in the wake of the national mining and construction downturn. While a crisis for many, low prices present an opportunity for regional locals to access affordable property. The Australian yesterday published a story on the plight of residential property in the mining towns in the wake of a significant contraction in the…
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Perth’s median house price increases again in December: REIWA
Perth’s median house price increased by nearly two per cent in the three months to December 2016. REIWA President Hayden Groves said reiwa.com data showed the median house price had lifted 1.9 per cent to $535,000 over the three month period. “This is the second month in a row that we’ve seen an increase in the median house price, which…
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Perth real estate starting to bounce back: Raine & Horne
After a sequence of flat years due to the resource sector downturn, there are early signs Perth’s property market is turning a corner, according to leading real estate group, Raine & Horne. “Economic reports in January and February will set the tone for a 2017 rebound,” said Craig Abbott, General Manager WA, Raine & Horne. “The key factors we’ll be…
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WA housing affordability shows notable improvement over the year
Housing affordability in Western Australia experienced a minor decline in the September quarter, but has improved over the year, according to the latest Housing Affordability Report by the Adelaide Bank and Real Estate Institute of Australia. REIWA President Hayden Groves said the report showed that while the proportion of income required to meet loan repayments in WA had increased by…
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Tax reform on the agenda for REIWA’s State Election campaign
In the lead up to the 2017 State Election, REIWA will be campaigning for the reform of property taxes to help make home ownership a reality for more West Australians. REIWA President Hayden Groves said the Institute would be engaging with the WA community via surveys and polls throughout the campaign period. “It’s incredibly important that the local community have…
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