Perth leading the nation on price growth
Perth has emerged as the nation’s real estate price growth leader, securing the highest level of price growth among all Australian capital cities in November.
Recent data from CoreLogic reveals a remarkable 1.9 percent surge, marking the most substantial monthly price gain since March 2021.
Interestingly, simultaneously, the recently released latest REIA Housing Affordability Report indicates a marginal improvement in housing affordability in WA during the September quarter, with a 0.1 percentage point decrease in the percentage of family income required to meet loan repayments.
Homeowners in WA now need “only” 34.5 percent of their family income to meet loan repayments, solidifying the state’s position as the third most affordable in Australia.
Despite the challenges posed by increasing house prices and interest rates, REIWA CEO Cath Hart maintains optimism. With WA boasting the second-highest median weekly family income in the country and the third-lowest average mortgage repayments, the state is well-positioned to navigate shifts in interest rates and economic conditions.
The confluence of record-low stock levels, relative affordability, high migration and robust economic conditions is bolstering Perth’s housing market.
Whether you’re contemplating a purchase, seeking a market update, or requiring an appraisal for sale or for lease of your current property, the White House team is available to provide expert advice tailored to your circumstances.
We are here to partner with you in helping you make the best real estate decisions to help you achieve your goals.
SUPPORTING ST PAT’S
In the lead up to Christmas, the White House Team are partnering with St Patrick’s Community Centre to support their St Pat’s Christmas Appeal. Between 1st November and 17th December, we will contribute $250 to the St Pat’s Christmas Appeal for every home sold by White House Property Partners and for every property listed for sale or for rent during this period, White House Property Partners will provide a Christmas family hamper, valued at $100. So, if you’ve been considering selling or leasing your property, we warmly encourage you to contact our team. Together, we can help nurture a community where everyone has a place to call home.
THE LOCAL MARKET
There were 4,730 properties for sale at the 10th December, a marginal 0.9 percent lower than last week. House listings fell 2.1 percent to 2,442, unit listings increased a small 1.3 percent to 1,320 and land listings stayed relatively stable at 968. Sales transactions witnessed a 2 percent decrease last week to 995 transactions.
In the past seven days, the White House Team have put four properties under offer, in Fremantle, North Coogee and White Gum Valley.
An Auction-stopping cash offer has taken 2/8 Collie Street, Fremantle off the market ahead of the scheduled Auction this Saturday. A local buyer was thrilled to secure the property prior to Auction.
The delightful villa at 11/93-95 Forrest Street Fremantle went under offer very shortly after the first home open last Saturday! The property attracted multiple offers and was secured by a lovely cash buyer.
Advisor and Negotiator Carlie Baker sold 22/22 Heirisson Way in North Coogee this week prior to the closing date. This coastal two-bedroom apartment received multiple offers after only two home opens!
The rare find at 9 Mouquet Vista White Gum Valleygarnered a lot of interest, receiving over 80 enquiries! We are thrilled for the excited buyers, who are eager to make this beautiful house, home in this tranquil pocket of the Valley.
If you’ve had any thoughts of selling or leasing in 2024, please don’t hesitate to reach out. We are here to assist you in any way.
FRESH TO MARKET
Despite the silly season being in full swing, we are delighted to have launched two new listings to the market this week, including one in Lake Coogee and one in South Fremantle.
LAKE COOGEE
Elevate your family lifestyle at 524 Rockingham Road, perfectly poised and primed for the upcoming summer season. A golden opportunity awaits with this impeccably renovated home, sprawled across a generous 1114sqm parcel in a highly coveted locale. The distinguished 1972-built residence has undergone a recent rejuvenation, featuring a suite of upgrades, including a new pool and spa outdoor area, a renovated open-plan kitchen and dining space and stunning external transformation. Anticipating buyer interest in the mid to high $900,000s. This property is open to view Saturday 16th December 1-1:30pm
SOUTH FREMANTLE
Set within a dreamy oasis of flourishing succulents and a majestic canopy of trees, the lovingly restored 50s bungalow at 31 Douro Road, blends vintage Art Deco style with a chic beach-house aesthetic in this highly sought after suburb by the beach. Jarrah floors, high ceilings and Deco-style cornicing complement grand over-sized windows which embrace sea breezes and frame multiple living areas, inclusive of a spacious north-facing lounge room, a front deck and terrace, plus a rear sunroom and private veranda. Anticipating buyer interest in the early to mid $1millions. This property is open to view Saturday 16th December 1-1:30pm
WHATS NEW
BICTON
What a wonderful place to live – above the wide curves of the Swan in a luxury home where effortless indoor-outdoor flow makes the most of the water views. In a peaceful, exclusive enclave steps away from the shore, 26A Blackwall Reach Parade is made for relaxation and entertaining. Set behind manicured gardens, the home opens to a double-height lobby and the airy, transparent atmosphere that makes it all feel so light and open. Anticipating buyer interest in the high $3millions. Open to view Saturday 16th December 9:30-10am
EAST FREMANTLE
Nestled on a generous 1,151sqm block, the exquisite heritage property at 21 Allen Street exudes timeless elegance. The allure of yesteryear is immediately evident in the period features of tuckpointed brickwork, heritage windows, and a graceful bullnose veranda that adorns the exterior. Step inside, and the magic continues with soaring ceilings, intricate period cornices, and original jarrah floors. Located on a tree-lined street, this residence is within walking distance of local parks, the George Street lifestyle strip, amenities, and excellent schools. Anticipating buyer interest towards the mid $2,000,000s. All offers presented Tuesday 19th December 4pm. Open to view Saturday 16th December 2-2:30pm
Beautifully designed formal gardens and a series of serene courtyard spaces frame the European-inspired interiors of the exceptional home at 3/72 Preston Point Road. Secluded up on the hill, complete privacy combines with wide open river vistas over to Rottnest on the horizon. Natural stone, marble, fine timber and the soft colours of luxurious paint finishes all create a feeling of quiet elegance, with easy indoor-outdoor flow to enjoy the environment in all seasons. Watch the boats passing by, walk down to parkland on the shore, dine at riverside restaurants, or entertain at home in style on the elevated garden terrace. We are anticipating buyer interest From $1.7million. Open to view Saturday 16th December 10:30-11am
FREMANTLE
Set in the creative hub of the Knutsford precinct is 50 Blinco Street, a character home that’s ideal to live in right now, with the opportunity to open up and make the most of the north-south orientation. Here you have the best of both worlds: an original brick-and-tile home with historic features and a large garden, amongst the cool contemporary eco-architecture that is springing up all around in this vibrant neighbourhood close to town. This property is now priced From $839,000. Open to view Saturday, 16th December 10:30-11am
SOUTH FREMANTLE
An 1890s classic facing a park near the ocean is a rare thing, and an inspired transformation by one of Perth’s most celebrated architects makes it truly exceptional. Filled with light and embracing solar passive principles, 58 Chester Street’s historic elements of stone and jarrah are incorporated into flowing contemporary spaces. You can stroll down to the South Freo action, with its fine bakeries, restaurants, bars and shopping, and retreat to the quiet inspiration of this remarkable home. This property is now priced From $2,395,000. Open to view Saturday, 16th December 12-12:30pm
AUCTION THIS SATURDAY
FREMANTLE – SATURDAY 16th DECEMBER @ 11:30AM
An early 1900s brick and iron classic retains its historic atmosphere at 61 Attfield Street, Fremantle, with a two-storey addition offering ocean views. Step out to the deck up high, and look over to Garden Island, the masts of the Fishing Boat Harbour, and the cranes of the port in the distance, while enjoying the cooling sea breezes. Rear access from a lane via Carnac Street is a real bonus in this cityside location, offering easy parking. Inside are the large gracious rooms, high ceilings and jarrah floors of the era, and the traditional bullnose veranda to sit and enjoy this friendly neighbourhood. Anticipating strong interest over $1,500,000, likely to go higher with competition. This property will be going to Auction on Saturday 16th December at 11:30am. Open to view prior to Auction 11-11:30am. Deposit of $50,000 on the fall of the hammer. Settlement 30 or 45 days.
COMING SOON
Next week we will be launching a compact block of land with ocean views at Port Coogee. Please call Stefanie on 0409 229 115 to register your interest.
DEPARTMENT OF PROPERTY MANAGEMENT
There were 1,970 properties for rent in Perth at the end of last week, a 2.1 percent rise compared to the week prior. This figure is 8 percent higher than four weeks ago and 1.9 percent higher than this time last year. As of 10th December, there were 1,410 houses for rent, and 560 units listed for lease. Although we are seeing a slight increase in available listings for lease, there is still high demand for rental properties, even as we approach the festive season. Please don’t hesitate to contact Monique Malarowski on 0418 228 524 monique@whitehouseproperty.com.au or Veda Spence on 0499 171 457 veda@whitehouseproperty.com.au if we can assist you in any way.
And if you’re a prospective tenant, we have several opportunities available for you including the following:
EAST FREMANTLE
Experience the best of East Fremantle living in the 2-bedroom, north-facing apartment at 43/46 East Street, situated in an iconic and secure complex on the corner of the historic George Street shopping and café strip. With breathtaking views of the river, harbour, and ocean, this property is perfect for those seeking a vibrant lifestyle right at their doorstep. Entering the open-plan living area, you’ll find versatility for indoor or outdoor entertaining on the expansive balcony. The well-equipped newly renovated kitchen offers ample cupboard and bench space for your convenience. This two bedroom, one bathroom property is available now for $650 per week. A minimum 12 months lease term is preferred.
FREMANTLE
The enchanting 1908-built residence at 204 South Terrace, exudes timeless elegance and vintage charm. Preserving original architectural details, the home seamlessly blends classic allure with modern amenities, offering a delightful living experience. As you step onto the veranda, witness breathtaking sunsets in the distance. Inside, high ceilings, Jarrah floorboards, ornate cornices, and decorative features create a warm ambiance. This property is available to lease for $790 per week. An initial six month lease is preferred.
SCARBOROUGH
Only a short stroll from Scarborough Beach’s iconic restaurant and bar strip, the modern apartment at 406/20 Brighton Road, offers the ideal coastal lifestyle. Located on the fourth story of this boutique complex, the north facing apartment is flooded with natural light. The open plan living, kitchen and dining area takes advantage of the sprawling ocean views through large sized windows. To top it off, on the eighth floor a communal terrace featuring a lounge and BBQ area takes advantage of the breath taking views and summer sunsets. This one bedroom, one bathroom property is to be leased furnished for a 12 month minimum tenancy at $650 per week.
PALMYRA
Experience the allure of resort-style living with access to a heated pool, gym, spa, and sauna right at your fingertips at 63/49 McGregor Road. Designed to harmonise with its leafy surroundings, Palmyra Apartments East is nestled among mature trees with native landscaping flowing throughout the development. This creates an atmosphere of tranquillity and calm. Located on the doorstep of the historic port city of Fremantle, in the established community of Palmyra, Palmyra Apartment Estate is a transformative, three-storey gated residential apartment village with every amenity right at your doorstep. This one bed, one bath property is available 19th January 2024 for a 12 month lease preferred. The property’s asking price is $525 per week.
THIS WEEKEND
We will be opening our many beautiful listings for sale this weekend as well as Auctioning the properties at 61 Attfield Street in Fremantle.