Tuesday, November 12, 2013

Perth Suburbs in National Top 50 Annual Growth

How has Perth suburbs fared in the last 12 months? Some have done amazingly well. In Belmont, the price of a unit has gone up 46%. On the luxury end of the market, Watermans Bay, Peppermint Grove, North Fremantle and Mt Pleasant have experienced growth of 30% or more in just 12 months which is quite an astounding return on investment! For a more moderate investment near Armadale, Mt Richon has returned 28%.

Here are Perth's best performers.

Suburb Postcode Unit/House No. Sold Ave price 12-Mth %
BELMONT 6104 U 40 $477,750 45.80%
WATERMANS BAY 6020 H 15 $1,160,000 41.80%
HERNE HILL 6056 H 21 $592,500 41.10%
PEPPERMINT GROVE 6011 H 24 $3,537,500 38.70%
NORTH FREMANTLE 6159 H 45 $1,050,000 32.50%
MOUNT PLEASANT 6153 H 120 $1,200,000 30.40%
WOODBRIDGE 6056 H 22 $580,000 30.30%
MOUNT RICHON 6112 H 45 $517,000 27.60%

Wednesday, October 30, 2013

WA Suburbs - Who's still getting NBN?

If you have recently been to the NBNco website, you will notice that the new federal government has taken down some of the map which shows when different suburbs around Australia will get NBN. Some suburbs whose rollout is advanced enough to be completed will continue to get NBN under the old program. From what we could work out from posts online, these suburbs' in WA will continue with the existing rollout

  • 2BLK-06 (Seven Hills, Prospect) — 02 Dec 2013
  • 6GLT-01 (Geraldton) — 05 Nov 2013
  • 6MDR-01 (Mandurah) — 10 Oct 2013
  • 6GLT-02 (Geraldton) — 15 Dec 2013
  • 6MSP-03 (Meadow Springs) — 20 Oct 2013
  • 6VIC-03 (Victoria Park) — 22 Jan 2014
  • 6GLT-03 (Deepdale, Rudds Gully, Utakarra, Wonthella, Woorree, Beresford) — 23 Dec 2013
  • 6APP-02 (Ardross, Booragoon, Applecross) — 25 Nov 2013
  • 6MDR-02 (Mandurah) — Dec 2013
  • 6MDR-03 (Silver Sands, Mandurah) — Feb 2014
  • 6MSP-01 (Meadow Springs, San Remo, Greenfields) — Feb 2014
  • 6VIC-01 (Victoria Park) — Jan 2014
  • 6MSP-02 (San Remo, Madora Bay) — Jun 2014
  • 6SPT-03 (Kensington) — Jun 2014

The question mark is on these suburbs who may get a different looking NBN. 
  • 6APP-01 (Mount Pleasant, Applecross)
  • 6APP-03 (Mount Pleasant, Ardross)
  • 6APP-04 (Brentwood, Mount Pleasant, Booragoon)
  • 6APP-05 (Winthrop)
  • 6APP-06 (Murdoch, Bateman)
  • 6APP-07 (Bull Creek)
  • 6APP-08 (Leeming, Bull Creek)
  • 6CGE-03 (Medina, Naval Base, Orelia, Wattleup, Hope Valley)
  • 6CGE-04 (Kwinana Town Centre, Parmelia, Calista)
  • 6CGE-05 (Orelia, Parmelia, The Spectacles, Bertram)
  • 6GLT-04 (Spalding, Strathalbyn, Webberton, Woorree, Beresford)
  • 6GLT-05 (Spalding, Bluff Point)
  • 6GLT-06 (Mount Tarcoola, Tarcoola Beach, West End, Mahomets Flats)
  • 6GLT-07 (Tarcoola Beach, Wandina, Mount Tarcoola)
  • 6KAT-01 (Katanning)
  • 6KOJ-01 (Kojonup)
  • 6MDR-04 (Dudley Park)
  • 6MDR-05 (Greenfields)
  • 6MDR-06 (Coodanup, Furnissdale, Greenfields, Barragup)
  • 6MDR-07 (Dudley Park, Coodanup)
  • 6MDR-08 (Greenfields)
  • 6MDR-09 (Halls Head)
  • 6MSP-04 (Singleton, Golden Bay)
  • 6MSP-05 (Secret Harbour)
  • 6NTH-01 (Northampton)
  • 6NTM-01 (Northam)
  • 6PNJ-01 (Pinjarra)
  • 6PNJ-02 (Ravenswood)
  • 6SPT-01 (South Perth)
  • 6SPT-02 (South Perth)
  • 6SPT-04 (South Perth, Como)
  • 6SPT-05 (Como)
  • 6SPT-06 (Como)
  • 6SPT-07 (Manning, Salter Point, Como)
  • 6SPT-08 (Manning, Salter Point, Waterford, Karawara)
  • 6VIC-04 (Victoria Park)
  • 6VIC-05 (Rivervale, Lathlain)
  • 6VIC-06 (Kewdale, Lathlain, Carlisle)
  • 6VIC-07 (Welshpool, St James)
  • 6VIC-08 (East Victoria Park, Carlisle)
  • 6VIC-09 (Kewdale, Welshpool, Carlisle)
  • 6YND-01 (South Yunderup, North Yunderup)
Will this affect the house prices of those that already have NBN or will be getting the NBN under the old program? The new NBN will be FTTN which means the last leg of NBN cabling will be paid by the householder, so you can say those under the old NBN rollout get a significant saving of around $5,000? Depending on what the new NBN rollout will look like, which is yet to be determined. 

Tuesday, October 22, 2013

Australia's Most Expensive - Perth Land at $563 per square metre

Perth has been awarded the dubious title of the most expensive place to buy land in Australia with the average cost of land coming to $563 per square metre compared to Sydney, the previous record holder averaging $549 per square metre. This reflects a 7.7% increase for Perth in the June quarter which is massive compared to Sydney's increase of 0.5% in the same period.

The price per square metre for other Australian cities are $471 Melbourne, $470 Adelaide, $417 Brisbane and $180 for Hobart.

Friday, October 11, 2013

Top 100 Suburbs by Median Price Growth to September 2013

How's your suburb doing in the last 12 months? Here is a table of the top 100 suburbs in Perth according to the Real Estate Institute of WA. If you know someone looking for a home in Perth, share this link with them. 

Suburb Median PriceGrowth last 12 months
1 Crawley $2,300,000 130.00%
2 Northbridge $1,310,000 54.10%
3 Watermans Bay $1,198,000 41.80%
4 Peppermint Grove $3,600,000 41.20%
5 Carmel $672,500 37.20%
6 Cockburn Central $650,000 36.80%
7 Jolimont $1,180,000 36.80%
8 Bickley $640,000 30.60%
9 Woodbridge $600,000 29.70%
10 North Fremantle $1,075,000 26.50%
11 Mount Pleasant $1,200,000 26.00%
12 Brentwood $735,000 25.50%
13 Menora $1,100,000 24.10%
14 East Perth $1,200,000 23.10%
15 Middle Swan $380,000 22.60%
16 Chidlow $462,500 22.50%
17 Kallaroo $745,000 22.10%
18 Mount Richon $488,500 22.00%
19 Hillman $316,000 19.20%
20 O'Connor $552,500 18.80%
21 Maylands $680,000 18.30%
22 Burswood $785,000 18.00%
23 Victoria Park $670,000 18.00%
24 Edgewater $547,250 17.70%
25 Embleton $540,000 17.30%
26 Koondoola $372,500 17.10%
27 Daglish $1,001,000 16.50%
28 Guildford $600,000 16.50%
29 Cloverdale $500,000 16.00%
30 Salter Point $1,085,000 16.00%
31 Calista $285,000 15.90%
32 North Lake $715,000 15.80%
33 Bibra Lake $542,500 15.40%
34 Wembley Downs $995,000 15.20%
35 Osborne Park $590,000 15.10%
36 Beechboro $420,000 14.80%
37 Carine $797,500 14.70%
38 Casuarina $762,500 14.70%
39 Shoalwater $458,750 14.70%
40 Jarrahdale $440,000 14.30%
41 Madeley $600,000 14.30%
42 Jandakot $682,500 14.20%
43 Trigg $1,080,000 14.00%
44 Redcliffe $480,000 13.90%
45 Mahogany Creek $577,500 13.80%
46 Mount Claremont $1,315,000 13.50%
47 Sawyers Valley $549,500 13.50%
48 Heathridge $475,000 13.40%
49 Girrawheen $368,000 13.20%
50 Swan View $402,000 13.20%
51 Langford $370,000 13.00%
52 Bateman $722,500 12.90%
53 Ferndale $465,000 12.90%
54 Beckenham $445,000 12.70%
55 Eden Hill $422,000 12.50%
56 Lockridge $360,000 12.50%
57 Munster $540,000 12.50%
58 Wanneroo $454,500 12.20%
59 Helena Valley $600,000 12.10%
60 Kenwick $370,000 12.10%
61 Palmyra $670,000 12.10%
62 Warwick $538,000 12.10%
63 Highgate $822,500 11.90%
64 Willetton $660,000 11.90%
65 Beldon $486,000 11.70%
66 Mullaloo $695,000 11.70%
67 Piara Waters $548,500 11.70%
68 Stoneville $490,000 11.70%
69 Mirrabooka $385,000 11.60%
70 Tapping $530,000 11.60%
71 The Vines $720,000 11.60%
72 West Swan $627,500 11.60%
73 Yangebup $460,000 11.60%
74 East Cannington $470,000 11.50%
75 Thornlie $435,000 11.50%
76 Balga $390,000 11.40%
77 Forrestfield $412,000 11.40%
78 Rossmoyne $975,000 11.40%
79 Wilson $559,500 11.30%
80 Gwelup $845,000 11.20%
81 Hazelmere $522,500 11.20%
82 Bayswater $589,000 11.10%
83 Belmont $522,000 11.10%
84 Brookdale $294,500 11.10%
85 Maida Vale $494,500 11.10%
86 Murdoch $800,000 11.10%
87 East Victoria Park $620,000 11.00%
88 Marmion $905,000 11.00%
89 Quinns Rocks $499,000 10.90%
90 Safety Bay $407,000 10.90%
91 Dianella $615,000 10.80%
92 Lynwood $440,000 10.70%
93 Queens Park $447,750 10.60%
94 Ardross $980,000 10.50%
95 Coolbellup $430,000 10.50%
96 Huntingdale $420,000 10.50%
97 Kardinya $630,000 10.50%
98 Parmelia $298,000 10.40%
99 Bassendean $524,500 10.30%
100 Willagee $540,000 10.20%


Perth Prices and Rent Trending Down in September

REIWA has rewarded a 2.8% fall in the median house price for the Perth metropolitan area with a new median house price of $508,000 from June's median of $522,500. The hottest areas for sales have been in the more affordable south-east of Perth around Gosnells, Thornlie and Armadale. Just over a week ago, Thornlie had the highest number of sales in Perth.

The number of properties available for purchase has dropped 16% since last year. The rental market has also experienced a weakening which experts have attributed to fist home buyers finally buying houses and leaving the rental market. An average house will cost $475 per week which is $5 down from the June quarter. The biggest fall in rent was in the City down $30 per week, down $25 in the western suburbs and South Perth.

Wednesday, October 9, 2013

Australians Wealthiest in World: Credit Suisse

If you lined all Australians along a line from richest to poorest, and then took the guy in the middle and compared him with other "middle" guys in other countries, Australia is the richest nation according to Credit Suisse's Wealth Report released today. Here's some of the article from The Australian today: 
Our wealth is also more evenly distributed across the population, the report said in Sydney, although we have a well above average reliance on real estate which forms 59 per cent of gross household assets. That's second only to Norway.
The report found that our mean wealth per adult is just over $US400,000 each, second only to Switzerland, and that there are 1.12 million people in Australia classed as US dollar millionaires, although that number includes all net assets including housing and superannuation.
The median wealth number of Australia is $US219,505 per person, the highest in the world. The median number in any range is the middle one whereas the mean is the average of all. The fact that Australia tops the median number is a reflection of the fact that Australian wealth is more equally distributed that in some other countries such as Switzerland, said David McDonald, chief investment strategist Australia for Credit Suisse Private Banking.
""The top ten per cent of Australians own 50 per cent of the wealth," he said, "which compares with the top 10 per cent around the world owning an average of 86 per cent and the top ten per cent in the US owning 74 per cent."
The report, compiled out of Europe, said that there are 1.76 million Australians who are in the top one per cent of global wealth holders, accounting for 3.8 per cent of that group despite this country having only 0.4 per cent of the world's adult population
- See more at: http://www.theaustralian.com.au/business/wealth/aussies-top-words-wealthiest-per-capita-credit-suisse-report-finds/story-e6frgac6-1226735467535#sthash.nJBQcZ4J.dpuf

Saturday, October 5, 2013

Top 10 Fastest Selling Perth Suburbs

The Australian published a list of the 80 hottest suburbs around Australia based on the number of days the average property is on the market. In Western Australia, the fastest selling suburbs are Craigie, Kalamunda, Melville, Wilson, Beldon, Woodlands, Parkwood, Queens Park and Edgewater.


Thursday, September 26, 2013

$10,000 First Home Owners Grant has started

If you are looking to build a new house and you are a first homebuyer, your time has come. The state government's changes to the first home owner grants program started yesterday, allowing you to claim $10,000 cash. However, if you are buying an existing property, you will only receive $3,000, which was only a few day ago $7,000. 

Who's Eligible?

To be eligible for the FHOG, applications must satisfy the following eligibility criteria:
  • Each applicant must be a natural person (i.e. not a company or trust)
  • Each applicant must be 18 years of age or over at the commencement date of the eligible transaction
  • At least one of the applicants must be an Australian citizen or permanent resident at the time of making an application.
  • Each applicant and/or their spouse cannot have previously received a FHOG under this scheme
  • Each applicant and/or their spouse cannot have owned residential property anywhere in Australia before 1 July 2000.
  • Each applicant and/or their spouse cannot have previously owned residential property anywhere in Australia on or after 1 July 2000 and occupied that property as a place of residence before 1 July 2004.
  • Each applicant and/or their spouse cannot have previously owned residential property anywhere in Australia on or after 1 July 2000 and occupied that property as a place of residence for a continuous period of at least six months that began on or after 1 July 2004.
  • Each applicant must occupy the home being purchased or built as their principal place of residence for a continuous period of at least six months, commencing within twelve months of completion of the eligible transaction.
  • Each applicant must have entered into an eligible transaction on or after 1 July 2000. An eligible transaction is defined under section 14 of the First Home Owner Grant Act 2000, but is generally a contract for the purchase or construction of a home, or commencement of construction of a home as an owner builder.
  • For eligible transactions commencing on or after 1 January 2010, the total value of the home must not exceed the cap amount. The cap amount is:
    • $750,000 if the property is located south of the 26th parallel of South Latitude, or 
    • $1,000,000 if located north of the 26th parallel of South Latitude.
For more details, see the FHOG fact sheet here.

Tuesday, August 27, 2013

Save $400,000 by Going Next Door

As you look for a new home, it often pays to think a little different to the many other homebuyers. An excellent article highlighting this appeared in the Daily Telegraph. They showed that a homebuyer can save a significant amount of money by buying into a suburb next to a more popular one. For example, those who purchased a property in Thornlie could pay their mortgage off 17 years and four months sooner than those in neighbouring Canning Vale and save $194,853 in purchase price. They would also potentially save $190,721 in interest repayments over time!

A while ago, I received a newsletter from Seth Godin, which illustrates this idea. 

"Every morning, the line of cars waiting to get onto the Hutchinson River Parkway exceeds 40. Of course, you don't have to patiently wait, you can drive down the center lane, passing all the civilized suckers and then, at the last moment, cut over. Drivers hate this, and for good reason. The road is narrow, and your aggressive act didn't help anyone but you. You slowed down the cars in the lane behind you, and your selfish behavior merely made 40 other people wait. 

This is a different act than the contribution someone makes when she sees that everyone is patiently waiting to enter a building through a single door. She walks past everyone and opens a second door. Now, with two doors open, things start moving again and she's certainly earned her place at the front of that second entrance. 

Too often, we're persuaded that initiative and innovation and bypassing the status quo is some sort of line jumping, a selfish gaming of the zero sum game. Most of the time it's not. In fact, what you do when you solve an interesting problem is that you open a new door. Not only is that okay, I think it's actually a moral act. 

Don't wait your turn if waiting your turn is leaving doors unopened." 

Have a look at this table and see if this changes the way you think about buying a home in Perth.

HOUSES
RANKPOPULAR SUBURBMEDIAN VALUEHIDDEN GEMMEDIAN VALUE$ SAVING% SAVING
1Scarborough$700,173Innaloo$618,891$81,28211.6%
2Fremantle$802,051O'Connor$572,144$229,90828.7%
3Mt Lawley$929,428Highgate$678,530$250,89927.0%
4South Perth$1,038,277Victoria Park$623,090$415,18740.0%
5Canning Vale$626,973Thornlie$432,120$194,85331.1%
6Subiaco$1,155,047West Perth$709,723$445,32438.6%
7Como$702,191Bentley$501,376$200,81528.6%
8Maylands$598,708Ashfield$496,997$101,71117.0%
9Dianella$635,811Morley$518,317$117,42418.5%
10Bayswater$617,172Eden Hill$439,378$177,79428.8%

UNITS
POP. RANKPOPULAR SUBURBMEDIAN VALUEHIDDEN GEMMEDIAN VALUE$ SAVING% SAVING
1Scarborough$584,153Churchlands$433,238$150,91525.8%
2Fremantle$586,922White Gum Valley$361,959$224,96338.3%
3Mt Lawley$400,509Glendalough$324,219$76,29019.0%
4South Perth$601,106Victoria Park$480,272$120,83420.1%
5Canning Vale$411,932Langford$302,088$109,84426.7%
6Subiaco$660,165Wembley$351,859$308,30746.7%
7Como$502,607Bentley$430,867$71,74014.3%
8Maylands$380,194Coolbinia$357,032$23,1626.1%
9Dianella$419,550Mirrabooka$297,154$122,39629.2%
10Bayswater$409,077Bassendean$384,679$24,3986.0%
Source: realestate.com.au, Westpac and RP Data

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