WA Real Estate News
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The Pilbara agent on the cutting edge of technology
The ‘online auction guy’ – that’s what buyers and sellers in the Pilbara region are calling Realmark Karratha agent Jordan James. Jordan has been using digital property sales method
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Housing prices rise in WA’s regional centres
Western Australia's regional centres are in high demand, as eight of nine areas saw an increase in median sale price for the September 2020 quarter.
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REIWA declares ‘rental crisis’ as Perth vacancy rate hits 13-year low
Perth's residential vacancy rate has fallen to 0.96 per cent, the lowest it has been in 13 years.
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WA’s social housing plan to alleviate rental crisis
A ten-year plan to create 2,600 affordable houses across Western Australia will hopefully ease the "rental crisis" that the state looks likely to experience.
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Perth houses selling twice as quickly as last year
As yesterday's ANZ/Property Council survey showed, Western Australia's property industry is the most positive in the country, and with very good reason.
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WA property industry the most positive in Australia
The WA property industry has the most positive outlook in Australia according to the ANZ/Property Council survey for the December 2020 quarter. Overall sentiment increased to 107 index points for the quarter, a 25 point increase on the previous period. This was the largest quarterly increase in sentiment for any…
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Perth rental listings hit eight-year low
Rental listings in Perth continued to drop in September.
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REIWA point to Qld’s example as the way forward for WA
REIWA President Damian Collins has commended the Queensland Government's handling of the COVID-19 legislation
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REIWA: Dwindling vacancy rate “a recipe for disaster”
In two months, Perth’s vacancy rate has dropped from 2 per cent to 1.3 per cent, and the Real Estate Institute of Western Australia expects this figure to keep dropping – a situation they are dubbing “a recipe for disaster” for tenants looking for a rental property. “The McGowan Government’s short-sighted decision to extend the emergency period for all tenancies…
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All the winners from the 2020 reiwa.com awards
Western Australia's real estate professionals came together to celebrate the industry's best at the 2020 reiwa.com Awards Ball held at Crown Perth on Saturday 12 September.
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REIWA ‘extremely disappointed’ by extension of rental emergency period
REIWA is extremely disappointed with the WA Government's decision to extend the emergency period tenancy.
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REIWA’s post-COVID prosperity plan
“It’s clear that the property industry needs stimulus to attract buyers and investors back into the market.” That’s the message from Real Estate Institute of Western Australia, who have delivered a prosperity plan to the WA Government that they believe will set the state on the road to recovery. Below is an outline of the plan. Reform stamp duty to…
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Perth rentals moving the fastest since 2015 mining boom
In August 2019, it took a median of 34 days to lease a property in the Greater Perth region. This August, it only took 21 days, meaning that properties are turning around two weeks’ less than this time last year. Reiwa.com data shows this is the quickest uptake rate since the last mining boom in February, 2015. The median rent…
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REIWA says east coast property woes won’t impact WA
Despite property woes in capital cities across the east coast, Real Estate Institute of WA (REIWA) president Damian Collins cannot see Western Australian property prices following the same trend. “Any agent in Perth they will tell you they are reasonably optimistic because stock is selling at better prices than six months ago,” he said. “Our days on market are down…
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RE/MAX appoints Business Growth Manager
After the successful transition of WA offices into its national network, RE/MAX Australia this month announced the appointment of experienced real estate professional Donna Goddard to the corporate team. Ms Goddard is Perth-based in the role of Business Growth Manager, WA. She has longevity in the Australian real estate landscape with around 12 years as an advertising director with News…
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Perth vacancy rate drops to a 12-year low
The Perth rental market’s vacancy rate has dropped to 1.6 per cent, the lowest rate since March 2008. The Real Estate Institute of WA (REIWA) warns that a vacancy rate of around 3 per cent strikes the ideal balance between supply and demand, but there are currently 50 per cent less properties for rent on reiwa.com than in July, 2019…
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Perth sales activity increased 68% from April low
Despite the value of homes dropping across Australia, sales activity in the Perth metro region increased by 68 per cent in July compared to April. According to REIWA data, the increase was across both dwellings and land sales. “While there are no surprises with the increase in land sales for the month, which saw a 121 per cent increase compared…
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REIWA: Emergency period tenancy legislation “needs to end”
As the ACT becomes the first state or territory to extend its emergency period tenancy legislation, Damian Collins, president of the Real Estate Institute of Western Australia (REIWA), has said there is no need for the legislation to be extended in Western Australia. Mr Collins believes the legislation should end as initially planned, on September 29, 2020. “The emergency legislation…
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Pets, provisions, periodic leases: the proposed changes to WA Residential Tenancies Act
Ahead of an upcoming review of the WA Residential Tenancies Act, REIWA has released a list of policy options they hope will “help reinvigorate the rental market”. While they state that few aspects of the current rental legislation require “a complete overhaul” and that it is “generally working well,” they have outlined the below seven key policy options: Maintain the…
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$116m land package to benefit regional WA
A new package aimed at stimulating real estate investment in regional Western Australia will be rolled out over the next few weeks. The McGowan government announced the $116 million Regional Land Booster package with the goal of “boosting the economy, creating regional jobs and assisting regional businesses to recover from the impacts of COVID-19”. “The Regional Land Booster package will…
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REIWA joins call to remove stamp duty
Following on from last week’s Thodey Report, which recommended that NSW stamp duty should be replaced by land tax, REIWA has called upon Western Australia to do the same. “Described in the report as an ‘unfair and damaging tax’, stamp duty is the wrong tax for rebuilding the State Governments’ capability to deliver for its citizens – clearly this also…
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Perth sales hit a five-year high
Perth is coming off its strongest month for sales since 2015, with transactions in June up 55.1 per cent from May. REIWA data shows that land sales in particular rose a striking 289 per cent from the previous month, with 1471 blocks sold. Dwelling transactions rose 15 per cent from May, with 3990 properties changing hands. While any comparative statistics…
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Perth weekly sales transactions hit seven-year high
Data from reiwa.com has revealed over 1000 sales transactions occurred in greater Perth for the week ending 21 June 2020 – almost double the 52-week average of 539 sales per week and the highest level of activity seen since June 2013. REIWA President Damian Collins said the Perth metro market has certainly started to pick back up and is not…
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REIWA Awards recognise best in the west
REIWA has recognised Western Australia’s top real estate achievers for 2020, with this year’s event streamed to hundreds of people. REIWA CEO Neville Pozzi said during a difficult and evolutionary year within the industry, the awards were more important than ever to showcase the fantastic work that has been achieved. “The Awards for Excellence are the highest accolade that can…
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‘Use grants wisely’: property investment consultancy advises first-home buyers
New building stimulus measures introduced by the Federal and WA State Governments are driving a significant rise in first-home buyer inquiry, according to reports from Perth-based property investment consultancy, Momentum Wealth. Combined with the existing First Home Owner Grant and duty concessions, the Federal HomeBuilder Scheme and State Building Bonus Package could see eligible first-home buyers in WA receive between…
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Off-market listings app changing how WA buys and sells property
With an increasing number of sellers enquiring about off-market listings, an app has been modified to provide West Australians with a new and discreet way to buy and sell property which may not otherwise come to market. REIWA CEO Neville Pozzi said due to the current economic conditions many people were looking for cost-effective and productive ways to buy and…
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Building bonus fails to address the big impediments to job creation: REIWA
REIWA has expressed disappointment that the Federal and State Government’s building bonus schemes failed to address the biggest impediment to job creation and hurts those who can afford it least. REIWA President Damian Collins said the Institute understands that HomeBuilder and the WA Building Bonus Scheme are aimed at providing short-term jobs at a crucial time, however both the Federal…
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Perth rental stock dropping rapidly
Perth’s rental stock has been quickly absorbed, with listings falling by 17 per cent in May to 4,676 – the lowest they have been since November 2013. REIWA President Damian Collins said despite speculation about a potential challenging real estate market, according to the May reiwa.com data overall it is doing quite well. “The strong demand we have seen for…
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Buyers win online auction while camping
A Broome property has sold entirely online to buyers who were 934kms away, camping at Karijini National Park. Using the digital sales process Openn Negotiation, Lana Ziverts of First National Real Estate Broome facilitated the sale remotely while her sellers watched on from the other side of the country. The property, which is located at 44 Planigale Loop, Djugun, sold…
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REIWA hopeful stamp duty on the WA election agenda
The REIWA has welcomed the West Australian Liberal Party’s commitment to a state tax reform, in the hope the removal of stamp duty may be on their agenda. REIWA President Damian Collins said stamp duty is the single biggest hurdle for prospective home owners and a reform is urgently needed to help recover from the impacts of Covid-19. reiwa.com data…
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Clarity in a crisis – Realmark Whitfords
“We appreciated very early on that as a business we would be measured in the future by our response to Covid-19,” Paula and Jonathan Alsford – Realmark Whitfords When panic surrounding Covid-19 began to filter through the West Australian real estate market, Realmark Whitfords owners Paula and Jonathan Alsford made a conscious decision – communication would be paramount, and clarity…
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WA announces rent relief package
The Real Estate Institute of Western Australia has welcomed the McGowan Government’s announcement for rent assistance to help property owners who have been left to burden the costs of those struggling to make their rent payments due to the impacts of COVID-19. REIWA President Damian Collins said last week legislation was passed through parliament which protected the rights of tenants,…
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Realmark makes proactive move online
A recent investment in technology will come to the fore at WA’s Realmark Group should the need arise to work remotely as a result of the coronavirus pandemic. The Realmark Group has worked to proactively implement working from home for teams, rolling out procedures and policies last week to ensure they were working in the best interest of the teams,…
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REIWA calls for safeguards in wake of coronavirus
REIWA is urging the state government to consider additional rent assistance for residential tenants who lose their jobs and safeguards for landlords if the tenant can no longer afford to pay rent as a result of the coronavirus pandemic. It comes as welfare and arts bodies call for a ban on housing evictions over the next few months to support…
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Perth CBD leads the way as office market gains momentum
The Perth office markets are gaining momentum despite little improvement in Western Australia’s employment and population situation, according to Ray White’s latest Between the Lines commercial research. The report notes that, after several years of reduced sentiment and pressure on the office markets, Perth has started its recovery mode.“During the latter part of 2019, we’ve seen momentum build, resulting in real…
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