Category: Perth Property News

New $25,000 Homebuilder handout making home ownership possible for Aussie families

HomeownersA dream gift of $25,000 making home ownership possible for thousands of Australian families was announced today through the government’s new HomeBuilder scheme. Those who qualify stand to receive the handout towards their new home construction or renovation.

The program is designed to help builders, tradies and the construction industry withstand the fallout from Covid-19 and give a helping hand to people buying or improving their home.

Prime Minister Scott Morrison said it is for keeping the dream of building alive.

“Twenty-five thousand dollars to support those Australians whose dream it was to build their home or to do that big renovation,” Mr Morrison said. (more…)

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Fast Recovery for Perth Real Estate

Sold SignPerth real estate has made a fast recovery from the April slowdown, where people were staying home, not sure where things were going and “waiting to see”.

As with so many uncertain periods, many tend to put off making decisions until they get a picture of what might be the way forward.

Well, Perth buyers have come out with their conclusion that it’s OK to take a few steps forward and resume where they left off before the Covid-19 stay-at-home. (more…)

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Perth House Prices Stable Despite Covid-19

Cottesloe-beach

House prices remained stable over April and selling agents are reporting renewed interest in the form of more phone enquiries and viewings, giving us a promising start to May.

This boost in the spirits of West Australians comes about from the lifting of restrictions and good performance in containing the Covid-19 spread, but we are a long way off returning to normal.

(more…)

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Perth Property Market Update | Covid-19

Perth Property Market skyline

Before Covid-19 hit, the Perth property market was at the beginning of a rebound, with pent up demand and renewed optimism starting to fuel prices.

This was confirmed by CoreLogic’s Hedonic Home Value Index, with Perth house values up 0.5% for March and 0.9% for the quarter.

But since the coronavirus crisis, the resurgence is on hold, with a decline in active buyers in the market and no upward pressure on prices. (more…)

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Karratha Developments to Boost Perth Property Confidence

After hearing for some time about the many new mining jobs up north, it appears things are starting to take off up there. This is welcome news for Perth property buyers and owners.

It’s reflected in the extensive developments taking place up in Karratha. New flights have been laid on, new FIFO camps are being built and housing availability has fallen to 1.5%. These are sure signs of increasing population and demand.

(more…)
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Property Wizards Honoured with Top Buyer’s Agent Award

Property Wizards has been awarded Buyer’s Agent of the Year 2019 at the Real Estate Institute of Western Australia (REIWA) annual Awards for Excellence.

Taking out the top honour in their industry, managing director Liz Sterzel said she was honoured to be recognized by the state’s peak industry body.

“We are thrilled to be acknowledged for the work we’re doing at Property Wizards for our buyer clients,” she said.

“We believe our recipe for success is that we put the buyer’s interests first and continually adapt our buying strategies to the changing property market. This helps our clients tremendously, where they tread a fine line between missing out on a great property and making a disastrous mistake. (more…)

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HOMEBUYERS FOLLOWING INVESTOR FOOTSTEPS

Buyers’ agents have now become a permanent fixture in the Perth real estate market – and it seems investors aren’t the only ones taking up the service. There’s a rapidly growing trend for homebuyers to enlist the help of experts in their search for the family home.

Using a buyer’s agent was once mostly the domain of property investors, but a growing number of owner-occupiers are taking up the trend and with a degree of uncertainty plaguing buyers in today’s market, it’s an area that’s tipped to grow strongly. (more…)

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Who are the Winners in the The Federal Budget?

The 2019 Federal Budget was announced last Tuesday – so who are the winners, you might ask?

Low- and middle-income earners are one of the winners from the 2019 Federal Budget. If you fall into this category you will receive personal tax cuts, for singles this is a maximum of $1,080 or couples a maximum of $2,160.

From a business perspective, small- and medium-size businesses received a positive outcome from the budget with the instant asset write off being increased to $30,000. This will benefit an additional 22,000 businesses.

For everyday Australian commuters, the budget announced $15 billion to be used for new roads and rail projects to help with congestion issues on our roads. Not only is this good for jobs and ease of travel, it is important for property investors who could benefit from investing near the right projects, such as the under-construction airport link. (more…)

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Negative Gearing: To Wait or Not to Wait

Negative gearing is set to be removed in January 2020 if Labor wins, except on new properties. So, where does that leave us? Do we jump in now or wait until after the proposed changes?

A study by experts released last week predicts the likely effect of the change on property sales and rentals and this could help investors make the right decision.

If the experts, SQM Research, are right, what does that mean? Do you take the plunge now or do you wait? Let’s take a look at Perth and try to figure this out. (more…)

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Waiting for Proof the Perth Market has Bottomed (You may want to rethink your strategy)

Homebuyers and investors waiting for proof the market has bottomed out may want to re-think their strategy.

The practice of sitting back and waiting for confirmation the market has definitely bottomed out could be a costly move. Continue Reading…

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What the Federal Budget means for Perth investors

Looking at the Federal Budget
We’ve had a month now to digest the Federal Government’s May 9th Budget release and the impacts its measures will have on the real estate industry. Housing affordability was an important feature of this budget, with several implications for first home buyers and investors. No matter what your interest in property, we’ve outlined the key measures here. Continue Reading…

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Saving tips for first homebuyers (NEWS)

Property Wizards was recently approached by The Sunday Times Real Estate Magazine to provide advice and savings tips for first home buyers.

Here’s what director Trevor Dunkley had to say.

With the Perth property market at the bottom of its cycle and interest rates still low – for now – it’s a great time for first home buyers to get into the market.

However, there are several things to consider when it comes to saving for that first home loan and being aware of the pros and cons of the government’s first home owner’s grant. (more…)

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On the move – Perth property market on the rise again (ANALYSIS)

While there’s been a lot of focus on the downturn in the Perth property market, there’s plenty of good news coming in.

A number of sources have revealed that Perth’s property market has reached its low and is starting to show signs of improvement. (more…)

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Low interest rates add to the appeal of the Perth property market (TIPS)

Perth, Western Australia, viewed at night reflected in the Swan River.

We already know it’s a great time to invest in property in Perth.

With the Reserve Bank of Australia’s decision last week to keep the cash rate at 1.5 per cent, this certainly adds to the appeal of getting into the Perth property market.

So while interest rates have stabilised, they are likely to rise. So if you’re ready to buy, the time really is now.

What should you do next? (more…)

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Is it really a buyer’s market? (Q&A)

 Hand on old door (old house, renovation, knock-down)

“It’s a buyer’s market!” you probably keep hearing. Perth’s current property market is a buyer’s market! The time to buy is now!

To dig a little further and find out if it really is a buyer’s market, and what this means for investors, we asked Property Wizards director Liz Sterzel what she thought. (more…)

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