WA’s is growing and so are we!
Western Australia is witnessing its most substantial population growth in over a decade with a 3.3% increase in population. WA is now home to 2.905 million people! This spike in growth represents an influx of roughly 37,000 new households, intensifying demands on the housing market, according to REIWA CEO Cath Hart.
With the fastest growth rate in Australia, REIWA is anticipating continued pressure on property sales and rentals, predicting continued price growth, short days on market, and a tight rental market.
WA’s economic strength is underscored by a notable drop in unemployment to 3.6%, reinforcing WA’s allure for job seekers and supporting sustained population growth.
The construction sector, however, is lagging, with housing completions falling short by approximately 20,000 homes needed to match the demand of new households.
The outlook for housing demand remains strong with the WA government revising its population growth forecast to 2.4% from the previously anticipated 1.7%. WA’s vibrant job market, attractive salaries, and relative housing affordability contribute to its continued appeal, ensuring ongoing vibrancy in its property markets.
And, it’s not just WA’s population that’s growing…so are we!
The White House Team is pleased to share that, due to the growth in our Property Management department, we have welcomed as an additional Property Manager to the Team. Jayde O’Reilly joins White House with seven years’ experience in property management and has moved to Perth from Port Hedland just a few weeks ago. Jayde shares the White House values – be a good human, building healthy relationships, honesty and transparency, respect and genuine care and gratitude. Jayde is committed to the high standard of service excellence in property management that we strive to deliver and we are thrilled to have her on board.
So if you are considering selling or leasing or simply curious to understand more about where your property might sit in the current market, please reach out as the White House team are here to guide and advise you through your property journey.
THE LOCAL MARKET
REIWA is reporting there were strong sales in the property market last week. Looking more closely at the data, house sales increased 15.6%, unit sales were up 10.7% and land sales increased by an impressive 47.1%. With these strong sales numbers, it appears supply in the market cannot keep up with the demand for homes, as we continue to experience much lower levels of stock in comparison to this time last year. This 45.3% figure is made up of 37.5% less houses, 41.1% less units and 65.5% less land on the market than 52 weeks ago.
The Reserve Bank’s decision this week to keep interest rate stable at 4.35% is a sign that the Reserve Bank is maintaining a keen eye on inflation and the strength of the current market means that interest rate cuts are not a given.
At White House, we have been witnessing first hand the strength of the current market with a FIVE properties going under offer this week, including an off-market sale.
Our Fremantle Specialist, Connie Handcock, successfully negotiated offers on three Fremantle properties this week: 43/10 Quarry Street, 96 Solomon Street and a warehouse apartment off-market in Pakenham Street. Connie launched 96 Solomon Street last week and had over 60 groups through the home open on Saturday morning. The property went under offer quickly over the weekend with multiple offers in competition.
We would also like to congratulate Connie on being ranked number 9 in REIWA’s Top Ranked Unassisted Salesperson by Value Sold in February, selling an incredible $9,301,000 worth of property. This achievement is a testament to Connie’s hard work and dedication to her clients. We are all immensely proud to have her as part of our White House team.
North Coogee Specialist Carlie Baker was thrilled to assist in the re-sale of the apartment at 10/22 Heirisson Way, North for a client to whom she had sold the property to in 2021. The property went under offer after just eight days on the market.
Director, Stefanie Dobro, with assistance from Georgia Hagan, was thrilled to help excited buyers secure the gorgeous heritage home at 21 Stevens Street, Fremantle as well as a young family who secured the architecturally designed and extended home at 63B Birdwood Circus West, Bicton.
FRESH TO MARKET
At White House, we have been witnessing first hand the strength of the current market with a FIVE properties going under offer this week, including an off-market sale.
Our Fremantle Specialist, Connie Handcock, successfully negotiated offers on three Fremantle properties this week: 43/10 Quarry Street, 96 Solomon Street and a warehouse apartment off-market in Pakenham Street. Connie launched 96 Solomon Street last week and had over 60 groups through the home open on Saturday morning. The property went under offer quickly over the weekend with multiple offers in competition.
We would also like to congratulate Connie on being ranked number 9 in REIWA’s Top Ranked Unassisted Salesperson by Value Sold in February, selling an incredible $9,301,000 worth of property. This achievement is a testament to Connie’s hard work and dedication to her clients. We are all immensely proud to have her as part of our White House team.
North Coogee Specialist Carlie Baker was thrilled to assist in the re-sale of the apartment at 10/22 Heirisson Way, North for a client to whom she had sold the property to in 2021. The property went under offer after just eight days on the market.
Director, Stefanie Dobro, with assistance from Georgia Hagan, was thrilled to help excited buyers secure the gorgeous heritage home at 21 Stevens Street, Fremantle as well as a young family who secured the architecturally designed and extended home at 63B Birdwood Circus West, Bicton.
WHAT’S NEW
CLOSING DATE FOR OFFERS – TUESDAY 26TH MARCH 4PM
84 GLYDE STREET, EAST FREMANTLE
In this lovely neighbourhood by the river, you’ll find an amazing combination: a street-front block for your dream home, plus a beautiful stand-alone apartment at the rear. This presents some wonderful choices: take the time to enjoy the serene interiors and inspired garden design of the one-bedroom dwelling while you landbank and plan, or go right ahead and create your new home out front, with ocean view potential from a second storey (subject to approval). The rear building has been cleverly designed to be separate from a future main home – with a northern aspect and nestled down on the land, it will retain its natural light and green outlooks. This sought-after parcel of Plympton is not subdivisible, so this is the perfect plan for home plus desirable separate accommodation for family or income. This property will be open this Saturday 23 March from 11:15-11:45am. All Offers will be presented by 4pm on 26th of March (if not sold prior).
SECOND CHANCE
3/72 PRESTON POINT ROAD, EAST FREMANTLE
Indulge in the complete serenity of this exceptional hilltop home, an ideal haven for low-maintenance riverside living. Tailored for those seeking ease of living, sweeping river views extending to Rottnest on the horizon, security and lush low-maintenance gardens. This wonderful elevated retreat is perfect for year-round relaxed living and entertaining. Embrace a lifestyle of perpetual vistas and easy living in this tranquil riverside sanctuary. Beautifully transformed interiors, remarkably refined gardens, expansive views – come on up to experience the tranquil atmosphere of this retreat above the river. The perfect property for a buyer with a keen eye for design, accompanied by relaxed living with water features, beautiful gardens and that gorgeous Fremantle sea breeze. Now priced From $1,650,000. This property will be open this Saturday 23 March from 10:30-11:00am.
SECOND CHANCE
Step through grand wrought iron gates and let yourself be enchanted by the inviting and tranquil courtyard of the ‘village’ that takes residence at 15 & 17 Essex Street – bringing the romance of Olde Worlde France to Central Fremantle. This gorgeous limestone, iron & brick home takes prime position in the community and is situated furthest from the road at the back of the U-shaped complex. Step through the front door and straight into the engine room – literally. Built circa 1862, this was the engine room of the Port Flour Mill. It has now been enhanced with a warm glow of light timber and transformed to an open plan kitchen/dining/family area. Including a private courtyard and balcony, this beautiful home offers you the opportunity to take your place in the Old Flour Mill and enjoy the enviable lifestyle on offer in the highly sought after West End location of the Port City. This property is open to view this Saturday 23 March from 11:30-12:00pm.
DEPARTMENT OF PROPERTY MANAGEMENT
As seen in the REIWA statistics from last week, we are seeing some consistency within the rental market, with the number of properties for lease remaining relatively stable. The data does, however, reflect the fast turnover we are currently experiencing, with a jump in the number of properties leased compared to last week and this time last year. Our property management team is continuing to experience high attendance at home opens and competitive interests in rental properties. Properties are being leased within a week of launching and the strong demand for rental properties remains. At White House, we understand the market is challenging and are always here to help with any enquiries or tips to secure a rental in such a hot market.
If you have been considering leasing your property or would like to know more about leasing your property, 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 you’re a prospective tenant, we have THREE new properties available for lease this week;
FREMANTLE
Prepare to be amazed by the detail and execution of this fully restored and modernised 120-year-old Fremantle townhouse at 40 Hampton Road. This architecturally designed three bedroom, two bathroom abode is truly something special! It’s all here: excellent luxe and stylish architectural design, great light, fabulous indoor-outdoor living and nothing left to the imagination! You’ll appreciate the strong sense of community that comes with residing among the action in the heart of Fremantle. With an abundance of choice, emerge from the sanctuary and enjoy the homes centrality. Within minutes you’ll walk from this gorgeous home into Fremantle’s pulsing dining, entertainment and cultural mecca. The property is to be leased furnished. This property is available for lease, for $1,250 per week, for a minimum 12 month lease preferred. Applications accepted through 2Apply.
FREMANTLE
This property, at 21/119 South Terrace, is positioned in a prime location on the western side of the Western Court within the popular Primaries complex, and is a unique three-level townhouse boasting ample space, multiple living areas, and abundant natural light. Its convenient, low-maintenance, and highly secure setting makes it ideal for executives who enjoy hosting gatherings or those with a youthful outlook on life. A mere stroll away from the vibrant Cappuccino strip, Fremantle’s Fishing Boat Harbor, or South Beach, this residence offers easy access to various attractions. The layout offers a seamless blend of functionality, comfort, and style across all three levels of the property, catering to the diverse needs and preferences of potential occupants. This property is available for lease, for $950 per week, with a 12 month lease preferred. Applications accepted through 2Apply.
PALMYRA
Behind the white picket fence and wrap around veranda, this charming fully renovated character home sits in a family-friendly community, across from leafy parks, sporting facilities, public transport and Palmyra Primary School, at 112 Aurelia Street. Beyond the open plan kitchen, dining area and through the French doors is a spacious alfresco area ideal for entertaining. This stylish and contemporary residence is the perfect family home offering an ideal lifestyle. This property is available for lease, for $1,000 per week, with a 6-month lease preferred. Applications accepted through 2Apply.
THIS WEEKEND
The Hawaiian Ride for Youth has been taking place this week with more than 150 riders cycling the from Albany to Perth, stopping at schools along the way to talk about and help breakdown the stigma around mental health. The Ride for Youth raises funds for Youth Focus to deliver mental health services to young people in Western Australia. More than 150 riders will arrive in Perth on Saturday 23 March, after completing the challenging 700km ride. See them cross the finish line at UWA from 10am! Arrive early to create your own welcome sign in, hang out in the chill zone, get your face painted enjoy food and drinks from the food trucks.
If you’d like to make a donation click here.We will be opening our many wonderful properties over the weekend, an if you are looking to buy, sell or lease, we look forward to meeting you at one of our home opens.
As always, we welcome your calls and look forward to helping you.
