FIRST HOME BUYERS ARE INCREASINGLY SEEKING FAMILY SUPPORT TO PURCHASE THEIR FIRST PROPERTY According to the latest RP Data-Rismark Index, Perth apartment values rose by a significant 5.3 per cent in the space of a month to a median of $420,000. This price gain for March was more than seven times the 0.7 per cent […]
IT IS WIDELY REPORTED THAT LAND VALUES SHOT UP DRAMATICALLY LAST DECADE, BUT SO DID THE VALUE OF HOMES BUYERS WERE BUILDING; AND JUST LIKE LAND PRICES, NEW HOMES PRICES HAVE NOT INCREASED FOR FIVE YEARS. The price of land was often cited as the main reason for new home prices shooting up dramatically between […]
OVER THE NEXT FEW MONTHS THE UDIA INTELLIGENCE UNIT WILL TAKE A CLOSER LOOK AT A NUMBER OF NEW DWELLING HOTSPOTS AND FIRST ON THE LIST IS NONE OTHER THAN THE LAND DEVELOPMENT MECCA, BALDIVIS. Recent figures from RP Data showed that Baldivis recorded 936 land sales last year, far outstripping land markets in the […]
THE WESTERN AUSTRALIAN PROPERTY MARKET IS ON THE MOVE, BUT AFTER SEVERAL YEARS OF SUBDUED DEMAND WHAT WILL THIS CYCLE LOOK LIKE? Last week UDIA Economist Tim Connoley suggested that maybe we should add property cycles to Benjamin Franklin’s popular adage about death and taxes. Or maybe we should look to Isaac Newton who said […]
WITH THE LIBERAL NATIONAL GOVERNMENT RECEIVING A VOTE OF ENCOURAGEMENT IN WA ON THE WEEKEND, THE TIME HAS COME TO GET SERIOUS ABOUT IMPROVING THE INTEGRATION OF PLANNING BETWEEN STATE GOVERNMENT AGENCIES AND BETWEEN LAYERS OF GOVERNMENT The recent announcement of a comprehensive review of state development laws in South Australia prompted comments by State […]
WE ARE NEAR ON TWO YEARS INTO PERTH’S EIGHTH PROPERTY CIRCLE IN THE LAST 35 YEARS. EACH HAS BEEN UNIQUE, DRIVEN BY A DIFFERENT COMBINATION OF LOCAL, DOMESTIC AND GLOBAL EVENTS. ‘In this world nothing can be said to be certain, except death and taxes.’ But maybe we should add property cycles to Benjamin Franklin’s […]
PERTH HAS CHANGED DRAMATICALLY SINCE THE TURN OF THE CENTURY AND ONE OF THE MOST NOTICEABLE CHANGES IS THE PERTH SKYLINE. Apartments in Perth were the fastest growing dwelling type over the last decade, growing three times faster than detached houses. According to the latest Census figures, the number of occupied private apartments increased 66 […]
THE CHALLENGE FOR GOVERNMENT AND INDUSTRY IN PROVIDING WELL-DESIGNED, ACTIVE OPEN SPACES WILL LIKELY WORSEN AS FINITE LAND SUPPLY CONSTRAINTS BECOME MORE PRONOUNCED. The Department of Sport and Recreation recently released a report on the provision of active playing reserves in Perth- Peel. The study mapped 139 suburbs and looked at the various uses for […]
THE BALANCE OF RISK HAS CHANGED. ESTABLISHED HOME OWNERS IN PERTH ARE WAITING FOR PRICES TO RISE AND BUYERS ARE RACING TO GET IN THE MARKET OUT OF FEAR OF MISSING OUT. THIS HAS A PROFOUND EFFECT ON THE NEW DWELLING MARKET. The Perth property market continues to gather momentum after reaching a trough in […]