PERTH REAL REPORT
Watch this space Perth homeowners – according to The West, WA is facing a shortfall of around 20,000 homes within four years. This is expected to put continued pressure on the market, which was we all know is already HOT, and drive property prices up 📈
S T A T I S T I C S
✖️ An extra 150,000 people are expected to call WA home over the next 4 years (Source WA State Gov projections)
✖️ WA’s on track to build 56,000 homes over the next four years, but 78,000 are needed (Source REIWA)
✖️ There’s already a shortfall of 8,000 homes in WA (Source REIWA)
So, how high can prices go?
Well, for reference, in 2008 Perth and Sydney BOTH had the same median house price. Today? Sydney’s median house price is $1.4 million & Perth’s is at $622,000.
2015 only 7 years ago the medium house price had broken the barrier of $500k which was a big deal back then.
Like the Boy Scout motto “Be Prepared”
NEED ADVICE ?
Now more than ever BUYER BEWARE !
BUYER AGENT is a MUST
Its quite normal for a purchaser to go blind into the property market looking at homes, making personal judgements, comparisons, asking a family member or friend for buying advice. This is a recipe for disaster maybe not in the short term but your buying the future of the home not & the past. Houses are a depreciating item, degradation with age, have a value that is variable based on the property condition. Rarely does a buyer consider future maintenance, restorations, repairs.
Sellers have an agent on their side of the deal that provide full reporting on comparable sales evidence, strategies of the sale, staging, presentation tricks, scripts & dialogues for selling, professional negotiation skills, documentation knowledge, offer & acceptance terms, conditions, legalities.
The easier it is to sell a property the less the owners need to do for the property to transact with potential underlying issues not known on a couple of viewing before offer is made. In most case these are discovered after the sale then its too late. If its not structural or pest intersections are cleared. Then you will buy any future issues, problems that may be a year or two away from needing attention.
DUE DILIGENCE
Be smart, be savvy on spending, do your due diligence, take the time to do a property house check. Get professional advice it will save tens of thousands in costs along with a stressful long term experience. Pre-purchase advice, property checks, post purchase report prior to settlement to protect the integrity of the purchase.
REAL DEAL REPORT
Pre purchase Valuation, Property Condition, maintenance, dwelling services, degradation, health of home which includes additional tests for water, air, dust, roof, foundations, soil. Streetwise Live Safe report on neighborhood.
BUY or SELL
DIAL DEAN 0413122633
mres@iinet.net.au
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Real Deal Australia : realdeal.com.au
Mitchell Residential : mres.com.au
