13 April 2018
There’s an art to living thoughtfully in cramped quarters, but there’s a science to choosing pieces that will make the most of your square footage. These decorative essentials seem to pop up in the most stylish small spaces again and again. So tell us, are these space-saving pieces in your home?
Source: A Beautiful Mess
Image Source: Decor Fix
Three tables for the space of one? That’s the beauty of nesting tables. Fan them out when you need more surface area, move them around if you have guests, then tuck them in when you’re done.
Bonus tip: choose an acrylic option, like the set Decor Fix blogger Heather Freeman has to take up less visual space!
Image Source: House*Tweaking
If you’re a pouf pessimist, you’re underestimating their versatility. Set snacks out on your coffee table, and watch your friends flock to the poufs for prime seating. Position one in front of a chair, and you have an instant lounger. Place one next to your sofa, set a tray on top, and admire your new side table. Best of all, they can be stacked or stored under your coffee table when you aren’t using them.
Image Source: Little Green Notebook
Floating shelves are ideal for adding more storage than your floor plan allows for. This cramped bedroom didn’t have room for a nightstand, but Jenny Komenda from Little Green Notebook created a smart floating-shelf alternative.
Image Source: Love Grows Wild
If you can’t knock down walls, add mirrors. They have the power to reflect light and visually expand a room, so it looks much larger than it actually is.
Pro tip: try styling a large mirror (like the one in Jillian Harris’s home) by layering it behind another piece of furniture.
Image Source: SF Girl by Bay
You may not have a walk-in closet, but even an unused nook or corner can serve as an impromptu closet if you hang a DIY copper-pipe rack.
Image Source: A Beautiful Mess
Whether you choose larger lidded options to slide under a console table or line shelves with smaller versions, baskets are essential for organising clutter.
Image Source: A Beautiful Mess
There are a myriad of ways to utilise a rolling cart. It can be used as everything from a bar cart (or better yet, coffee station!) to a nightstand. Wheels make it easier to move to different spots . . . like the living room, if you’re entertaining.
Source: Manuel Rodriguez for One Kings Lane
The key to making any bookshelf look immaculately streamlined is to load it with beautiful boxes. It’s the perfect way to hoard anything from receipts to your washi tape collection without having your belongings look like a mess.
Image Source: Tony Vu for One Kings Lane
A bed skirt and a plastic pull-out container is your ticket for storing seasonal clothes without anyone having to know. You have the space, so why not use it?
Image Source: iStock
Sure, you could hang coats or hats from these racks, but there’s no need to stop there. Display a set of cabinet-hogging mugs in your kitchen, or organise necklaces in your bedroom. The possibilities are endless.
Image Source: West Elm
If you’re short on counter space, think vertically. This stackable apothecary set is ideal for keeping bath and beauty supplies within reach.
Source: Justin Coit for Domaine Home
Former-reality-star-turned-fashion-designer Whitney Port uses these slim hangers to pack in as many clothes as possible in her cute closet space.
23 March 2018
It’s no wonder the co-founder of Done & Done NYC, a professional organising, de-cluttering, and staging business, is just as organised in her personal life as her professional life. Abby Löfberg has the scoop on how Kate Pawlowski’s daily routine stays on track.
Image Source: ShopStyle Photography
Our co-founder Kate Pawlowski is 28 years old and the most high-functioning person I know. (Read her bio here) What’s great about her is that she gives advice that someone like me (who doesn’t “run a home” and is not naturally organized) can actually follow and implement.
I grilled her about her entire day, and gleaned a couple of great habits that she does unconsciously and without thinking. She says that these are so easy, they don’t feel overwhelming — they become ingrained into your habits, and you end up looking forward to the feeling of relief you get after such little effort, like brushing your teeth in the morning.
When she wakes up, Kate fills her kettle and turns it on. During the three minutes it takes to boil for her morning tea, she unloads the dishwasher, so she never has to keep dishes in the sink and just pops them straight in the dishwasher all day. Imagine never having to have a terrifying sink full of dirty dishes! (I actually do this too. It works!)
She keeps a magic eraser in her shower and wipes down the walls right after she shuts the water off to keep it clean and mildew-free. This prevents slime and grime from building up in the grout, and she never has to do a deep shower clean other than during her seasonable deep cleaning sprees.
3. Getting dressed
She is all about stylish basics that work for multiple purposes — especially with her underwear. When Kate buys her undies, she makes sure they match a few of her existing bras, so she can quickly pull out a pair and be in a matching set. When she takes off her clothes at night, her bra and undies go right into the mesh delicates bag she has hanging on her closet door, so they’re ready to pop in the wash once a week. (She actually has a bunch of these bags in different sizes and washes most of her clothes this way to take care of them). This way, she never runs out of underwear and has to do a last-minute wash while wearing granny panties.
She spends seven to 10 minutes every night tidying her desk, her coffee table, folding throw blankets, and starting the dishwasher so she can wake up fresh in the morning and get right to coffee and work.
Living in an organised way is not just about where you put your things — it starts with what you let into your house in the first place. Kate is vigilant about her shopping habits — she does research on clothes and reads reviews before she buys them. She knows what cuts work for her and which materials she is most comfortable wearing. She also takes care of her clothes really well by washing everything on a delicate cold-cold cycle. This way, her clothes stay in top condition and she doesn’t have to buy as much. This is part of a philosophy we at Done & Done NYC call Owning Well — in other words, how to own less things that work perfectly for you is a more efficient and less expensive way to have an organised space.
26 February 2018
We are proud to announce that we won 2 awards as the “AGENCY OF THE YEAR” in the RateMyAgent 2018 Agent of the Year Awards. The awards, which are the largest real estate awards in Australia, recognise those agents and agencies that have ranked the highest based on customer reviews and feedback.
RAVEEN LIYANAGE WON THE THE AWARD FOR THE “AGENCY OF THE YEAR FOR MADDINGTON”
HASI KODAGODA WON THE THE AWARD FOR THE “AGENCY OF THE YEAR FOR BECKENHAM”
NICK MITCHELL WON THE THE AWARD FOR THE “AGENCY OF THE YEAR FOR FORRESTFIELD”
The RateMyAgent Agent of the Year Awards compare over 32,000 agents and agencies across the country. They highlight the leading real estate agents and agencies in each suburb, city and state across Australia, and on a national level.
“The RateMyAgent Agent of the Year Awards are the only awards which use verified customer reviews and feedback, so they’re an honest gauge of the customer service an agent has provided,” said RateMyAgent CEO & Co-Founder, Mark Armstrong. “These awards are the only industry awards to put sellers’ needs first, using customer reviews as a leading indicator of an agent’s success over 2017.”
Our team was also,
- David Quadros – No 1 agent by recommendation in Ascot
- David Quadros – No 3 agent by recommendation in Belmont.
- Greg O – No 1 agent by recommendation in Belmont.
Click below to find out
View our RateMyAgent profile here.
22 February 2018
Image Source: The Makerista
Switching up your decor can make a surprisingly huge difference in the way you feel at home, but beware of common decorating traps. Before you tackle these bold design updates, be mindful not to do these 9 things:
1.Don’t Forget About Lighting
Image Source: A Beautiful Mess
Even the most beautiful of rooms can be thwarted by bad lighting. The most welcoming spaces are filled with soft layers of flattering lighting at various heights (a chandelier, floor lamp, desktop lamp, etc.), not just one harsh light source. If the space has little natural light, use mirrors to brighten it up by reflecting what natural light there is around the room.
2. Don’t Hang Pictures at the Wrong Height
Image Source: Honestly WTF
You’ve found the perfect picture, paired it with the perfect frame, and now it’s time to hang it at the perfect height. The centre of the image should be at eye height, around 144cm — lower than most people expect. If you’re putting up a gallery wall, you not only need to be thoughtful with the height of the image but also the layout. Take care to mock up where each picture will go before you start putting nails in the wall.
3. Don’t Have Tons of Throw Pillows
Image Source: Sarah Hearts
They’re affordable, easy to swap out, and a great way to transform the look of a room; however, it’s easy to get carried away with them, picking up one or two every time you’re shopping until you have no space on your sofa left to actually sit. If throw pillows are deflated and flat, or more tired than trendy, it’s time to toss them. As a rule of thumb, only buy a new pillow if you’re willing to part with an old.
4. Don’t Blindly Follow Trends
Image Source: The Makerista
Of course, you want your interior design to be up-to-date, and it’s great to keep an eye on the 2016 trends — but beware of incorporating every trend into your home. Rose quartz and serenity might be the colours of the year, but that doesn’t mean you need to repaint all your walls. Just as with fashion, certain trends work better for certain people, so adopt and adapt as best suits your home and needs. If the season’s dark and moody hues are too much for your space, paint a single accent wall and incorporate edgy leopard in an occasional chair that can easily be swapped out as tastes change.
5. Don’t Go Overboard With Decorative Painting
Image Source: StyleMutt
With a bucket of paint, you can do many a wonderful thing to a wall. You can also do many a horrible thing. Stencils, brushes, and the like have their place, but be careful not to gild the lily. In other words, keep decorative paint elements simple. That mural or stenciled design should enhance the room, not dominate it. And leave the sponge painting in the ’80s. Period.
6. Don’t Hang Onto Pieces That No Longer Serve You
Image Source: A Beautiful Mess
It can be hard to get rid of belongings that have sentimental value or that you shelled out big bucks for, even if they’ve outgrown their purpose. If you don’t, however, they’ll begin to overwhelm your home until its more cluttered than cute. Be honest with yourself and sort out the pieces you can really use, and get rid of the rest.
7. Don’t Push Furniture Against the Walls
Image Source: The Decor Fix
Pro designers cringe when they see living room furniture pushed flush against a wall. Not only does it create awkward, empty space in the middle of the room, but it creates a formal, unwelcoming vibe. Make better use of the the space and warm up the room’s vibe by arranging furniture within the room instead of against it. Trust us, no one will mind seeing the back of your sofa.
8. Don’t Ignore Practical Needs
Image Source: Inspired by Charm
Get realistic about your family’s needs and budget, and design accordingly. While you may be lusting after the glam mirrored Hollywood regency coffee table, your young children mean you must forgo it for a soft, upholstered ottoman. Blowing your room budget on a single item is equally as devastating to your design. A truly great space is one that functions well for you.
9. Don’t Design Without a Plan
Image Source: Sarah Hearts
Every space has its own distinct style and purpose, and it’s important to figure out what that is before you begin to decorate. Even eclectic-style rooms have a cohesive design theme that holds them together. Without any overarching purpose or theme, a room quickly becomes chaotic and adrift. You don’t need to know exactly where each piece of decor will go, but you should have a general idea of what you want.
15 February 2018
Image Source: Inspired by Charm
This past weekend, my husband and I moved from the 94-year-old home we’ve been renting in the Berkeley Hills to a 58-year-old home around the corner. I have always had a soft spot for old homes — the architecture, the charm, the doorknobs! — but they definitely come with their quirks. Love ’em or hate ’em — if you’re living in an old house, you know there are some issues to contend with. Read on to find a list of 15 (relatively) quick fixes to make your old home feel new again.
Paint the Cabinets
Image Source: A Beautiful Mess
This is a big project, I won’t lie. I painted my cabinets once despite being spectacularly DIY averse. But that monotonous oak was killing me, so I persevered. And it is so worth it! A few cans of paint (and many hours of your life) will completely transform your kitchen — in fact, your whole home.
Paint a Tile Backsplash
Image Source: One Kings Lane
Boring white tile backsplash? No matter — geometric patterns are hot this year, and you can make your own in a weekend!
Give Your Pantry a Makeover
Image Source: Polished Habitat
What with layers of paint and warping wood, old house pantries can definitely be lacking, so give yours a makeover! Make it the happiest place in the house.
Paint a Brick Fireplace
Image Source: Inspired by Charm
If your brick surround is an eyesore, not to worry — just paint it.
Cover a Popcorn Ceiling With Wood Planks
Image Source: Domino
Is this a major project? Yes. But then everything related to the ubiquitous popcorn ceiling seems to be. This is a doable DIY if you plan ahead. And the outcome is gorgeous!
Replace Ugly Doorknobs With Vintage Versions
Image Source: House Tweaking
This is an easy fix, but buying reproduction doorknobs can get pricey fast. To keep the budget down, shop local salvage yards or source an eclectic collection on Etsy.
Paint Kitchen and Bath Hardware
Image Source: Brittany Makes
Old kitchen and bath hardware can look pretty tired, and it’s no wonder, what with all the heavy lifting they do for us every day. But with a little sanding, primer, and paint, you can give them a new life. Check out this tutorial on how to spray-paint hardware for some inspiration!
Paint the Floor
Image Source: Little Green Notebook
Check out this great tutorial on how to paint a tile floor. Let your creativity run free with multiple colours and a repeating pattern.
Paint a Wood Fireplace
Image Source: The Makerista
Does your old house have a room (or rooms) full of wood siding? Can there be too much of a good thing? Sometimes a focal point is all that’s needed to draw the eye.
Dress Up a Cinder Block Wall With Chalk Paint
Image Source: Sarah Hearts
Are you cursed with a dated cinder block patio wall? Do this now! Cutest solution ever, although definitely opt for paint over chalk to make sure your hard work lasts and lasts.
Paint Your Trim
Image Source: The Makerista
Old homes often have intricate architectural details — show them off by painting them a dramatic contrasting colour.
Container Garden in Place of Landscaping
Image Source: A Beautiful Mess
If your landscaping looks as old as your house but new landscaping is not in the budget, try a container garden instead. Add a few at a time (just remember to water them from time to time), and soon your garden will be looking cheerful.
Spray-Paint ’80s Brass Light Fixtures
Image Source: Brittany Ambridge for Domino
Sometimes a can of spray paint and an afternoon is all it takes to update an old light fixture.
Tile Over Your Countertop
Image Source: A Beautiful Mess
Dated tile? Yucky grout? Tile over it! Click here for the DIY.
Paint Your Stone Patio Tiles With Pops of Colour
Image Source: A Beautiful Mess
Leave it to the bloggers at A Beautiful Mess to make even an ugly concrete patio look adorable.
13 February 2018
More Perth properties may soon be sold under the hammer. Photo: Peard Real Estate
With the Perth property market in a state of recovery, agents are predicting auctions will rise in popularity in favour of the traditional offer and acceptance sales method.
While latest Domain Group auction data revealed there were 180 auction listings in Perth in November, with a clearance rate of 30 per cent — in comparison to Sydney data for the same month of 4,187 listings with a clearance rate of 55 per cent — there were signs more homes will be sold under the hammer in Perth in 2018.
Domain Group data scientist Nicola Powell said a seasonality effect was obvious when looking at auction data for Perth, where there tended to be more homes for auction in the spring months.
Auctioneers expect to be busier in Perth this year. Photo: Dan Soderstorm
She said auctions were ingrained in the Sydney and Melbourne vendor market, and as the Perth property market began to recover, auction conditions might improve.
JLL buyers advocate Lachlan Delahunty said “auction” seemed to be a foreign word in WA.
“However, we should start to get comfortable with the process, as it will soon hit our shores,” he said.
“Properties sold under the hammer signify only three per cent of Perth property. Unfathomable when comparing that to the likes of Melbourne and Sydney with clearance rates of 80 to 90 per cent.
“Hot markets attract auctions – like bees to honey, as we have seen in Sydney in the early stages of last year.
“However, this form of selling is certainly no place for a soft market, which Perth has experienced in recent years, recording clearance rates as low as 30 per cent in the final parts of 2017.”
Mr Delahunty predicted if the WA market continued to improve during the first few months of this year, properties in coastal and blue chip suburbs would start to see the benefits of a bidding frenzy.
LJ Hooker national auction manager David Holmes said auction volumes in Perth remained steady and almost unchanged: 1973 in Perth last year, compared to 1964 in 2016.
“Perth is still a long way off the auction volumes of the eastern states – Melbourne recorded more than 50,671 auctions last year (a 19 per cent increase year on year) with Sydney notching 40,281 (a 16 per cent increase),” he said.
“However, at the end of 2017 and already in 2018, our offices have fielded more inquiries from sellers about the opportunities to auction their properties. LJ Hooker Kalamunda Foothills auctioned four times as many properties in 2017 than they did the previous year and expect to hold even more in 2018.
“Data has indicated a shift in the Perth market, with the first positive price recorded in the last quarter for a long time. When markets begin to recover, that’s when auctions rise in popularity as buyers openly compete to determine what new market value is.”
Rob Druitt, First National Real Estate Druitt and Shead principal and auctioneer, said auctions were on the rise in Perth, with buyers becoming more savvy in their understanding of the process.
“It’s unlikely in the short to medium term that we will catch up to the like of Melbourne or Sydney, however, as our market improves we are likely to see more auctions,” he said.
Mr Druitt said there were many benefits to selling and buying at auction.
“For the sellers, it is a quicker sale process and if the property is worth more than we all think, they will achieve it,” he said.
“For the buyers, in what is becoming a more competitive market place for certain types of properties, if they are organised, they have a genuine opportunity to buy the property in an open fair forum as opposed to properties selling off the market or quickly with multiple offers.
“For the market, it is good as it helps to genuinely set the market value of property and provides immediate feedback to the market on sales evidence and interest.
“Also, if the property doesn’t sell on the day of auction it will come on the market post-auction and is available to conditional buyers.”
Acton auctioneer Boyd Fraser said the benefits of auctions included a compressed campaign for 21 days and a 50 per cent chance of selling under the hammer on the day.
“Both buyers and sellers are in the same forum so transparency in the process is guaranteed. There is a significant difference in the number of days on market,” he said.
Western suburbs were popular areas for auctions, but other standout areas included Spearwood, Hamilton Hill and Coogee, Mr Fraser said.
08 February 2018
Parliament has passed the legislation allowing first home buyers to save for a deposit inside superannuation through the First Home Super Saver Scheme (FHSSS) and also allowing older Australians to ‘downsize’ and then contribute the proceeds of the sale of their family home into superannuation.
From 1 July 2018, a first home buyer will be able to withdraw voluntary superannuation contributions they have made since 1 July 2017(up to $30,000 each, with individuals being able to contribute up to $15,000 a year within existing caps), along with a deemed rate of earnings, to help buy their home.
Also, from 1 July 2018, when Australians aged 65 and oversell a home they have owned for at least 10 years, they may contribute up to $300,000 from the proceeds into their superannuation accounts, over and above existing contribution restrictions. Both members of a couple may take advantage of this measure, together contributing up to $600,000 from the proceeds of the sale into superannuation.
27 November 2017
Adrian Ballantyne via realestate.com.au
With the real estate market continuing to roll from strength to strength, trying to determine a property’s true value is an ever-present challenge for buyers.
Snaring the property you want while avoiding paying too much is the dream, but how do you make that happen? As a buyer, how do you ensure you purchase at the right price every time?
Some of Melbourne’s leading buyer’s agents share their tips.
Buyers need to know what a property is really worth. Picture: Getty
Know your goals
The “right” price for a particular property won’t be the same for everyone.
For example, a first-home buyer might see a certain price as fair for a property, while an older couple looking at downsizing might be perfectly comfortable paying $100,000 more to ensure they get hold of it.
Kristen Hatt, from buyer’s advocates Woledge Hatt, says being crystal clear about what you want from a property will help determine what your right price is.
“It’s about having a really good understanding of what you’re trying to achieve, and then making sure that property will meet all of those goals, because then you can make decisions around price as well,” she says.
“Understanding what the property is and the likelihood of (a similar property becoming available again), will determine the right price for you.”
How to negotiate a property price:
Research, research, research
When it comes to determining the right price for a property, there’s no substitute for market knowledge and conducting your own research.
Luke Assigal, from Parley Property Advisory, says it’s important to frame your own market, rather than blindly following the selling agents and their indicative price ranges.
Inspect in person
All property knowledge isn’t necessarily equal. While looking at properties and results online will give you some measure of knowledge, there’s no substitute for checking out properties in the flesh, Hatt says.
“Just getting the results of properties doesn’t necessarily tell you about the properties,” she says.
“Sometimes a property sells for a certain price because it has a major structural issue, and you can say: ‘Well that’s why it was cheap’. Understanding more about each property is important.”
Home tips for buyers:
Calculate based on square metres
Some agents are reporting that for many properties, calculating the likely sale price based on the rate per sqm of land is proving increasingly accurate.
Again, it’s about research. If a number of properties nearby have sold for around $5000 per sqm often you can expect a very similar rate for the house you’re eyeing off.
“You can do square meterage, particularly when you’re dealing with larger blocks and development blocks in blue chip areas,” Assigal says.
“You can get access to stats quite easily – most properties have the square meterage listed online.”
It doesn’t necessarily mean the property will be the right price for you, but at least you’ll know how much you’re likely to be up for if you decide to bid.
Use a buyer’s advocate
Studying the market yourself each week is one thing, but consider for a moment that there are people who do it professionally.
While the average punter researches properties only when they’re actively looking to buy one, buyer’s advocates/agents have knowledge and expertise built up over many years, and can give an almost instant appraisal of what a property should be worth.
Hatt says that with buyer’s advocates, you’re paying for that superior market knowledge, as well as their ability to sniff out properties based on your personal requirements and circumstances.
“We were chatting to clients the other day and talking about a specific bayside area, and I said that over the last five to 10 years I would have been through 80% of the homes in that area that have been for sale over $1 million,” she says.
“That’s knowledge that you can’t just get by going to a few open for inspections and thinking that you’ve got an understanding. A lot of buyers are only in and out of the market in a very short period of time.”
27 November 2017
The latest data from REIWA shows 53.4 per cent of sellers are having to discount their property in order to sell and the average amount they’re discounting by is seven per cent.
If you’re on the market or considering selling, you need to adapt to the current property conditions. Otherwise, you may need to discount to achieve a sale, which can lead to significantly longer selling times.
The latest September quarter 2017 data shows it takes on average 70 days to sell a property in WA, so if you want to beat the average you need a strategy to encourage a quicker sale.
Meet the market from the get-go
Pricing your property appropriately as soon as it goes on the market is key. The number one reason why a home stays on the market for an extended period is because it’s considered over-priced by the market. If you want an expeditious sale, you need to be realistic about price.
A suitable price will attract more buyers and, subsequently, more offers and competition. If you’ve not had an offer to buy within the first four weeks’ of coming to market then you need to consider either the asking price or marketing/selling methods being adopted.
Consider expressing the price differently such as a price range or shifting to an auction campaign.
Auctions can achieve a quick sale
Auctions are gaining in popularity in WA and are a considerably faster way to sell, taking an average of 27 days for a seller to secure a buyer. While listing numbers are relatively stable across the Perth market, stock levels remain higher than the long term average.
Selling via auction can help your property stand out from the competition and separate the genuine buyers from those just browsing.
Presentation is key
With good choice for buyers (particularly in select markets), you’ll need to take extra care and effort when it comes to presenting your property. While you don’t need to do a full blown renovation, making mild cosmetic improvements to the property, including the garden and any fencing, can go a long way in attracting more buyers.
Do your research before coming to market
If you are buying and selling simultaneously under similar market conditions, the state of the market is almost irrelevant. While you might not sell for a price you want, you’ll also be buying in a market that offers adequate choice and competitive prices.
When you’ve made the decision to sell, do your research and find out how the market is performing in your local area. Speak to our agents in the areas you’re interested in buying in. They’ll be best placed to give you an idea of what’s going on in and around your area.
There are buyers out there and we know that if your property is priced correctly from the start, it will be snapped up by those eager to buy their first home, trade up or downsize.
Visit our website for more details pmmetro.com.au
16 November 2017
Housing affordability remains a hot button issue across the nation, and rightfully so. It’s a significant concern for a growing number of West Australians, particularly those on low and very low incomes, many of them facing the prospect of never being able to afford a home of their own.
Housing affordability has improved in WA
Despite this growing issue, house prices in WA have become more affordable over the last couple of years and have not increased at the rate they have in other states over the past decade. For example, Perth’s median house price for the year to June 2017 was $520,000, which is only approximately $60,000 more than it was at the same time in 2007.
By comparison, the Sydney housing market has seen its median house price increase by a staggering $600,000 over this same period, making it substantially more difficult for first home owners to enter that market market.
We are fortunate the dream of home ownership is still very much attainable in Western Australia. In fact, REIWA analysis shows it’s more financially attainable to be a home owner in 2017 than it was in 2007, with West Australians now spending a smaller percentage of their total income on mortgage repayments than they did a decade ago.
Specifically, home owners were spending approximately 56 per cent of their total income on mortgage repayments in 2007, whereas today that figure has reduced to 27 per cent. This improvement in affordability for WA home owners can largely be attributed to average income levels having increased since 2007. At the same time interest rates have gone down and house prices have remained relatively on par.
Perth property market appears to have stabilised
Home buyers remain in a strong position in Perth, but the signs do indicate the local property market has stablised.
Since July 2017, reiwa.com’s monthly data has revealed steady figures across a number of key indicators, such as median house price, median rent price and listings for sale and for rent. Historically, one of the strongest indicators a property market may be on the cusp of ‘turning’ is a period of stability.
Now is the time to buy
If you’ve been holding off making a property purchase because you’re waiting for the ‘bottom’ of the market to buy at the lowest possible price, I’d advise you to take action sooner rather than later. We don’t usually have the luxury of calling the ‘bottom’ of the market until we have the benefit of hindsight; meaning, we’re not certain the market has turned until it’s on the way back up.
With improved house prices, record low interest rates and a healthy supply of stock to choose from, now is the time to take advantage of Perth’s favourable buying conditions.
31 October 2017
Peter Williams via thewest.com.au
Billionaire Kerry Stokes has added his weight to the view that conditions are ideal for entering the housing market, staking his reputation on now being the best time to take the plunge.
The Seven Group Holdings and Seven West Media chairman said the situation came as the State showed it was recovering from the shock of miners cutting their costs by a combined $10 billion in recent years.
“Right now any young person out there, any apprentice, worker, tradesman — the best thing they’ll ever do in their life is walk out this weekend and buy a home in Western Australia,” Mr Stokes told a WestBusinessLeadership Matters event on Tuesday.
“With interest rates low, housing prices low, this is the time to think of their future right now. I’d put my reputation on the fact this is the best time for them to do that,” he said.
“If that’s the case and everybody else agrees with that, then we’re past the bottom.”
Mr Stokes’ remarks follow Housing Industry Association figures showing affordability in WA had improved dramatically, in part because of national efforts to tighten bank lending standards for investors.
In the past two years, loan repayments on a median-priced house in Perth fell by more than $260 a month, or $3120 a year. Elsewhere in WA, they fell to $1545 from $1773 a month.
Kerry StokesPicture: The West Australian
However, a report yesterday showed Perth had the nation’s second-most expensive residential land prices at $730 per square metre, a 5 per cent gain over the year to June. The Housing Industry Association-CoreLogic Residential Land Report said land prices rose by 19.6 per cent in Melbourne and 9.8 per cent in Sydney.
Mr Stokes said the State’s economy was showing signs of improvement after miners’ efforts to improve efficiency had contributed to the downturn.
Leadership Matters Lunch with The West Australian: Country Chair for Shell Australia Zoe Yujnovich. Photo by Michael Wilson, The West Australian.
Ben WyattPicture: The West Australian
“So when they’ve saved some $10 billion in costs that’s supposed to come out of workforces in WA. That’s a shock we have to get over and we’re actually getting over it now.”
WA Treasurer Ben Wyatt told the event that competition in the retail gas market had largely offset the increases the McGowan Government had imposed on electricity tariffs.
Discounts of up to 30 per cent are on offer with new player Origin Energy this month, joining AGL, Kleenheat and Alinta in the gas price war.
At the Leadership Matters event are WA Newspapers Group Business Editor Ben Harvey, Treasurer Ben Wyatt, Rob Scott (Wesfarmers), Zoe Yujnovich (Shell), Tom O’Leary (Iluka) and Kerry Stokes. Pictures: Michael WilsonPicture: Pictures: Michael Wilson
Mr Wyatt said that situation could last until the early 2020s.
Incoming Wesfarmers chief executive Rob Scott said while the loss of disposable income and lower population had hit retail businesses hard, there was cause for optimism.
“We still see opportunities,” Mr Scott said. “We see a good path for growth.”
17 October 2017
Are you preparing to sell your home in Perth? Home staging and styling has become a big trend, particularly in this challenging market. Potential buyers will judge your home and form their opinions before they even attend a home open through the online advertisement, so it’s important to make a good first impression.
By making some small but effective changes, your property photos can play an important role in enticing buyers to attend your home open.
Here are five budget friendly tips to help style and stage your home for a sale.
1. De-clutter your space
The first thing you will want to do when listing your property for sale is to de-clutter and throw out or donate any items you do not want following you to your next home. It is also recommended to store away any personal items just for the home open to create a neutral space for potential buyers. This can include:
- Personal photos.
- Artwork on the fridge.
- Letters and bills.
- Toiletries and clothes (keep these neatly packed away in the cupboard or draws).
De-cluttering creates more space and shows off the storage potential of your property, whilst also allowing potential buyers to imagine their own life and personal items inside the house.
2. Clean up
Once you have de-cluttered, it’s a good move to clean your house to ensure it’s presented in the best possible way for photos and home opens. Aside from general tidying and vacuuming, this can also include:
- Cleaning up the outdoor area – trim hedges, clear pathways, lay mulch or pebbles to tidy up garden beds and discard unruly weeds.
- Address any lingering odours – perhaps due to a blocked drain or a pet’s toilet training accident.
- Get your cupboards in order – buyers are going to open draws, cabinets and cupboards, so be sure to neaten things up in there and create the illusion of more space.
- Clean soiled items – such as stains in your carpet and curtains (including your shower curtain), and any other household items.
3. Update your paint colour
You may love that red feature wall in the living room, but it might not be quite to your potential buyers’ taste. The most effective way to style your home is to neutralise your space with lick of paint.
Choose neutral paint colours, such as whites, creams and light greys to freshen up your walls and hide any scuff marks or small chips. You can even go as far as re-painting cupboard doors or tiles to update your kitchen and bathroom.
4. Invest in some on trend décor
Update your décor with some on trend pieces, but be sure to not clutter the space. Small, subtle touches are best, not to mention easier on the budget, and can include:
- A statement rug or hall runner.
- Pillows and throws for your couch.
- Decorative ornaments and artwork, such as a vase with flowers or a trendy print.
Don’t be afraid to add pops of colour as well, especially if you have neutral walls and furniture.
5. Create a welcoming environment
For the home open itself, create a great first impression and a welcoming environment with small touches, such as:
- A scented candle or fresh flowers.
- Relaxing music.
- Ambient, comfortable lighting.
Be mindful of the season as well – perhaps pop on a fan or the air conditioner if it’s a warm day, or light a fire (if you have a working fireplace) to create a cosy atmosphere on rainy winter evening.
10 October 2017
The McGowan Government has handed down its 2017-18 State Budget and has listened to the concerns of the WA property industry by not meddling with property taxes.
In the Treasurer’s speech, the Hon. Ben Wyatt MLA advised the State Government did not consider increases to property taxes for WA residents as part of their Budget repair measures, recognising the impact of the three consecutive land tax increases in previous Budgets.
REIWA Deputy President Damian Collins said given the McGowan Government had faced challenges when it came to the State’s fiscal position, it was pleasing to hear there would be no increases to property taxes for WA residents.
The Government is planning to introduce a four per cent foreign owner duty surcharge on purchases of residential property by foreign individuals and entities from 1 January 2019. This is expected to create $49 million in revenue by 2020-21.
“The introduction of a new foreign owner duty surcharge could hinder overseas property investment. Despite foreign investors only representing a small proportion of the WA property market, caution must be placed to ensure this section of the market does not reduce further.
“The Government expects to create revenue from this surcharge, however, it may only worsen the situation in terms of transfer duty revenue, as potential foreign investors may be less incentivised to purchase residential property in WA,” said Mr Collins.
In its pre-budget submission, REIWA recommended the Government introduce five key areas of reform:
- Make no further changes to rates or thresholds for land tax.
- No increase to transfer duty rates or change thresholds.
- Undertake a state tax review to assess the viability of a shift to a broad-based land tax system that ultimately removes transfer duty.
- Maintain the existing transfer duty exemption for first home buyers at $430,000 and re-introduce the $3,000 First Home Owners Grant for existing dwellings.
- Introduce a $10,000 concession on transfer duty for seniors over the age of 65 to encourage ‘right sizing’.
“REIWA welcomes the State Government’s commitment to keep property taxes on hold for WA residents and whilst some of the reforms we recommended were not addressed in the Budget, we appreciate the current fiscal position,” said Mr Collins.
The State Budget also revealed that growth in the State economy is expected to recover from 0.25 per cent in 2016-17, to three per cent in 2017-18. Employment growth is also forecast to recover, with nearly 20,000 jobs expected to be created in 2017-18, attributed to a modest increase in population growth expectations.
“The McGowan Government should be congratulated on their efforts in reducing the State’s debt. REIWA will continue to work with the Government to help home ownership become a reality for more West Aussies and also assist the Government in getting the Budget back to surplus,” said Mr Collins.
18 September 2017
Buyers are often sellers too. Most people who decide to sell their home also look for an alternate property at the same time and it’s not uncommon for them to find something appealing before they have secured a buyer of their own.
What is a ‘subject to sale’ offer?
Buying a property “subject to the sale of another property” is common and REIWA agents are well equipped to ensure the sale agreement is procedurally correct.
Normally, these agreements enable the seller to continue to promote their property for sale and, in the event of receiving an alternate offer to purchase (normally not subject to the sale of that buyer’s property), give notice to the first buyer of their intention to proceed with the second offer after two business days.
This colloquially termed ‘48 hour clause’ provides the buyer two business days to obtain an offer on their property or waive the benefit of the subject to sale condition.
What does a ‘subject to sale’ offer entail?
Certainly, these arrangements can get tricky. Agents need to be especially careful not to prejudice the second party by giving the first buyer a hint that a second offer might be on the way. Notices served between the parties must also be technically compliant and strictly adhered to so as to not unfairly advantage either buyer.
A crucial point for sellers to be aware of is if they are accepting a ‘subject to sale’ offer, at say $600,000, this then binds them to that sale price within the 48 hour period – even if a second unconditional offer is higher (provided the original buyer can make their original offer unconditional within the 48 hour time frame).
’Subject to sale’ offers can benefit sellers
Although this type of sale requires more effort, contracts for sale that include the ‘subject to sale’ condition, often succeed and proceed smoothly to settlement.
This type of sale also has the potential to put the seller at an advantage, with the buyer often expecting to pay a premium for the privilege and protection of settling after the sale of their own property.
Given the conditional nature of the sale, sellers are justified in asking for a higher price from the subject to sale offer. There have been instances where the seller rejected a ‘subject to sale’ offer at a premium price, only to have that same buyer return to the same property after they’ve sold and pay a lower price.
I would advise sellers to consider all offers presented to them, including those that are subject to sale. In this market where competition is high between vendors, it’s in your best interest to give consideration to all serious buyers.
12 September 2017
With spring expected to draw an influx of buyers, and amid tight supply of properties for sale, Perth property prices could rise in the coming months, says Hayden Groves, president of the REIWA.
The Perth property market is showing positive signs as we head into spring and summer,” says Hayden Groves, president of the REIWA.
New data from the REIWA shows Perth’s median house price and median rent held steady in the three months to August 2017.
The median house price remained consistent at $515,000, and the overall median rent was stable at $350 – the fourth consecutive month rents have held steady.
REIWA President Hayden Groves said the results are “encouraging”.
“The stable medians are good news and indicate that sellers’ and landlords’ expectations are matching those of buyers and tenants,” said Groves.
Property listings down 10 per cent for the quarter
The reiwa.com.au data shows listings for sale eased one per cent lower in August, and are down 10 per cent compared with three months ago.
Groves said prices could rise in spring, when it’s likely demand will pick up.
“Traditionally in spring, there tends to be a lift in sales activity,” he said.
“There is potential for the median house price to increase in the coming months as we see more demand for housing and increased competition from buyers,” said Groves.
In the rental market, stock is down 10 per cent, and leasing activity is up 8 per cent
In the residential rental market, reiwa.com data shows stock levels declined by six per cent to 10,046 properties in August, and leasing activity rose by eight per cent.
“The boost in leasing activity is pleasing to see and has contributed to the declining trend in listings levels,” said Groves.
“Rental stock gets absorbed due to the demand from tenants,” he said.
05 September 2017
Nicole Cox via realestate.com.au
Perth’s property prices have dipped more than 10 per cent in the past three years, but a new report suggests evidence of some relief with the rate of decline abating.
The latest CoreLogic Hedonic Home Value Index shows house values in Perth have fallen by 2.6% so far this year, making it the worst performing capital in Australia.
In August, Perth property prices dropped 0.8%, compared to the 1.3% decline in July.
House prices suffered a 0.9% drop, while unit prices fell by 0.6%, bringing the median property price in Perth to $462,927.
In August, Perth property prices dropped 0.8%, compared to the 1.3% decline in July. Picture: Getty Images
August property data showed Perth and Darwin continued to endure declining dwelling values, which had trended lower over the past month and rolling quarter.
“However, the annual trend highlights the rate of decline has been easing,” the report says.
“Since peaking in 2014, Perth dwelling values have declined by a total of 10.8%, while the cumulative decline across Darwin has been more severe with values down 18.6% from the market peak.”
CoreLogic head of research Tim Lawless says despite lagging property values in Perth, it was still one of the most affordable markets in the country.
“The silver lining around the decline in values is a substantial improvement in affordability,” Lawless says.
On Tuesday, WA Housing Minister Peter Tinley told a Committee for Economic Development Australia that lower-income earners were still being priced out of the Perth property market, despite softening values.
Tinley said Perth’s shortage of affordable housing, coupled with stagnant wage growth and the high cost of living had contributed to low-income earners being unable to realise the great Australian dream of home ownership.
CoreLogic says national dwelling values remained flat during August, with capital city values edging 0.1% higher. Simultaneously, regional dwelling values slipped 0.2% lower.
The report says the slowdown in growth has been most visible in Sydney, while the Melbourne market has been more resilient with auction rates consistently above 70%.
22 August 2017
Author: REIWA President Hayden Groves
Modiefied via reiwa.com.au
Over the last couple of years as the Perth property market has slowed, there has been a lot of talk about ‘waiting for the bottom of the market’ to arrive.
In an ideal world, it would be crystal clear when the bottom had arrived and primed buyers could act immediately to secure their dream home, content in the knowledge they had purchased their property at the absolute lowest possible price.
How do you tell when the bottom of the market has hit?
The truth is, it’s virtually impossible to tell whether the actual ‘bottom’ has hit until it has passed and we’re on the upswing again. The best we can do is observe trends in the market and make an educated guess. It’s not an exact science and can be influenced by a number of external factors, such as the economy, consumer sentiment and state and federal elections.
In Perth, signs over the last quarter suggest our local market is beginning to stabilise, with all key indicators (median house price, sales activity, listings for sale, average selling days and discounting) recording little or no change in the three months to June 2017.
Historically, one of the earliest signs of a change of momentum in the market is a period of stability. Although no one can accurately ascertain the future of the property market, the signs are there that we have finally found, or are very close to finding, the bottom.
Take advantage of affordable conditions
If you’ve been thinking of buying a home or purchasing an investment property, but have been holding off for the ‘right’ moment to strike, I’d advise you to take action sooner rather than later. Although we might not be able to predict with absolute certainty the ‘bottom’ of the market, we do know that property markets are cyclical and conditions will change again.
With the signs there that we’re heading into a period of stabilisation, now is the time to buy. There is lots of choice in the market with listings for sale , so you are in the best possible position to find a home that meets all your requirements at a competitive price.
I would advise buyers who are considering purchasing property in this market to take advantage of the steady, but quieter conditions. Do your due diligence and view a range of different properties in suburbs that appeal to you to ensure you explore all your options.
If you’re unsure what the best move is, speak to us on 9475 9622 or email us at firstname.lastname@example.org about your plans. They are well educated on your local market and will be able to advise what is most suitable for your situation.
18 August 2017
(click on above to view video)
In the current market Team Q are bringing success with Auction Campaigns’ with a sell through rate
( before / under hammer or within 1 week post Auction ) of 100%..!
That means your property is SOLD within 28 days for the highest possible price the market will pay.
( Average Days on the market Perth – REIWA 52 days )
Team Q – your local real estate agents delivering results!
Call now 0412 934 217
UPCOMING Team Q Auctions’ you are invited!!
Saturday 19th Sept ‘17
1pm – 108 Tibradden Circle Ascot
2pm – 13 Mc Larty St Cloverdale
15 August 2017
Rachel Preston-Bidwell via reiwa.com.au
Perth home buyers looking to trade up are now seeing more opportunity in areas such as Peppermint Grove, Applecross and North Coogee, which topped reiwa.com’s list of affluent suburbs which have become more affordable.
REIWA President Hayden Groves said while prices in these suburbs were still well above the Perth median house price, they had become more affordable for buyers looking to trade up into those million dollar suburbs.
Peppermint Grove saw the biggest annual average change in its median house price over the past five years, shifting from $3,750,000 (year to April 2012) to $3,350,000 (year to April 2017).
“Buyers are looking for opportunities in areas with a good lifestyle scene, cafes and restaurants. In particular, we are seeing buyers placing more importance on proximity to good public schools.
“Suburbs such as Applecross, Nedlands and Peppermint Grove are within the catchment for some of Perth’s best public schools. Due to the easing off in median house prices of these suburbs, the opportunity is there to secure your ideal family home if you have the means,” said Mr Groves.
There’s also good news for sellers in Applecross, City Beach, Nedlands and Peppermint Grove, as properties are selling quicker in comparison to five years ago.
“In 2012, it took on average 120 days to sell a property in Peppermint Grove for instance. In more recent figures, the average selling days for the suburb sits at 90 days.
“We are also seeing sellers willing to negotiate and discount their initial asking price to achieve a sale,” said Mr Groves.
The average discount sellers in the five suburbs are applying to their asking price is around the eight to ten per cent mark in the year to April 2017 data.
“Both buyers and sellers are benefitting from the current market conditions in these million dollar suburbs,” said Mr Groves.
||MEDIAN HOUSE PRICE (YEAR TO APRIL 2012)
||MEDIAN HOUSE PRICE (YEAR TO APRIL 2017)
||AVERAGE SELLING DAYS (YEAR TO APRIL 2012)
|| AVERAGE SELLING DAYS (YEAR TO APRIL 2017)
|1. Peppermint Grove
|3. North Coogee
|4. City Beach
Figures based on median house prices in the year to April 2012 versus year to April 2017. Filtered for suburbs with greater than 15 sales, with a median house price of more than $1 million.
08 August 2017
Author: REIWA President Hayden Groves via reiwa.com.au
New reiwa.com data has revealed Perth sellers who choose to auction their property are achieving significantly faster selling times than those who sold using the more traditional private treaty method.
The results for the three months to June 2017 showed it took Perth sellers just 28 days to sell under the hammer, compared to the 70 days on average it took for private treaty sales – a notable difference of 42 days.
While still only a small component of the Perth market, Western Australians have become more familiar with this method of sales in recent times, thanks in large part to the popularity of TV shows like The Block bringing auctions into people’s living rooms.
Auctions and the East Coast
If you’re considering selling, there are many reasons why an auction can be the way to go in the current market. You only have to look to the success of this method on the East Coast to understand how powerful of a selling option it can be.
In Sydney for example, auctions represent approximately 33 per cent of all sales, while in Melbourne that number is close to half of all sales. By comparison, auctions are only around two per cent of all sales in Western Australia (based on March 2017 data).
Benefits of selling at auction
For the seller, one of the biggest benefits of going to auction is the sense of urgency and competition this method generates amongst buyers, predominantly due to the shorter marketing and campaign period of auctions.
When listings are plentiful and buyers have plenty of choice available to them, an auction can help your property stand out. Additionally, selling by auction provides reserve price protection and as the seller you have the opportunity to set specific terms of sale.
If you’re considering going to auction, familiarise yourself with how they work and discuss your options with a REIWA agent to ensure it’s the right selling method for you.
Buying at auction
Alternatively, if you’re a buyer interested in a property that is going to auction, do you research prior to the day so you’re well informed and know what to expect.
If you’re uncomfortable with the idea of bidding yourself, you can consider hiring a buyer’s agent who can provide advice before and on auction day.
They also help with a number of other tasks including due diligence on the property, researching the property’s value, helping you decide on your purchase price limit and bidding for you on the day.
Here at Porter Matthews Metro we have a well thought out Auction process and success rate, if you have queries as to how this method might suit you, please give us a call on 9475 9622 or email us at email@example.com