Welcome to Autumn!

“Perth continues to stand out with a substantially higher rate of growth compared to any other region” that’s what Core Logic has said in its latest report today released today. The strength of the current Perth property market has been confirmed with housing prices experiencing another nation-leading increase of 1.8% in February alone and 5.2% for the rolling quarter resulting in a new median high dwelling price of $687,004.

It is our experience, that this upward trajectory not only signifies a robust market but also underscores the elevated expectations of buyers and tenants alike.

For Sellers: The remarkable increase in property values underscores the importance of the increasing expectations of today’s buyers. We are finding that buyers in our marketplace are scrutinising the operational integrity of electrical systems, gas, and plumbing, as well as maintenance more than ever. Things such as working locks, opening and closing windows, as well as more significant items are expected to be in good working order. Sellers are reminded of the importance of disclosing items that are not in good working order with your agent prior to launching so that this information may be provided to buyers and included on the Offer and Acceptance form, ensuring transparency, integrity and a smooth path to settlement. A property that is both visually appealing and also functionally sound is indeed more attractive to potential buyers and is more likely to create an even more competitive environment, a higher sale price result and faster sale!

For Landlords: Similarly, the leasing market’s buoyancy, highlighted by the incredible weekly rents being achieved, brings to light for investment property owners, the expectations of tenants. Maintenance is an important component of investment property ownership. What an owner may have been willing to “live with” may not meet the standards and expectations of today’s tenants – expectations that are elevated due to increased rents. Understanding tenants’ expectations and preparing for the normal wear and tear associated with leasing is important. This insight helps foster a positive owner-tenant relationship . If you’d like to find out more about leasing your property, please feel free to reach out to Monique Malarowski on 0418 228 524 monique@whitehouseproperty.com.au or Veda Spence on 0499 171 457 veda@whitehouseproperty.com.au

THE LOCAL MARKET

We are continuing to see small increases in the number of properties for sale each week. REIWA reported that there were 4,101 properties on the market as of the end of last week, reflecting a 1.5 percent increase from the previous week. Compared to last week we saw a small 0.2 percent increase in houses listed for sale, and a considerable 4.7 percent increase in unit listings, and vacant land listings remaining consistent, with a 0.7 percent increase. Overall, listings remain 44.1 percent below the same time last year. Sales were stronger this past week with a 6.7 percent increase compared to the previous week, with REIWA reporting a total of 1,010 transactions.

The team at White House is constantly collaborating and working hard as a team to achieve the best results for our clients and are pleased to have put another two properties under offer last week in North Coogee and Southern River. With the support of North Coogee’s #1 Agent, Carlie Baker, Team Dobro was thrilled to put 10 Napoleon Parade under offer, while Carlie Baker also secured an excited buyer for 4 Vision Way, Southern River.

FRESH TO MARKET

At White House we are always working to bring great properties to the market. As we head into the long weekend, we are thrilled to have launched THREE new listings to market this week:

BICTON

Curving around a peaceful park of peppermints and gum trees, this is one of the most prized streets in Bicton. The natural theme of cool canopies and birdsong continues in the remarkable family home of 63B Birdwood Circus West. An individual approach to design, materials, light, and openness has created an intriguing series of spaces that are both interconnected and independent. An inspiring refuge for adults, with your choice of creative workspaces, it is also a fabulous environment for children and teenagers. They will love exploring the series of bedrooms, study zones and sleeping lofts, offering wonderful flexibility to inhabit the home just as you wish. Anticipating buyer interest from the high $1,000,000. Please contact Stefanie on 0409 229 115 for further details.

BICTON

Located in the highly coveted and idyllic riverside suburb of Bicton is your chance to secure a rare piece of land at Lot 2/77 Waddell Road. Opportunities like this don’t come around very often and there is so much to love about the endless possibilities awaiting here. Don’t miss your opportunity to secure this proposed lot – the perfect blank canvas to build your dream home in this desirable riverside precinct. Welcoming offers in the $700,000. Please contact Louise Hope on 0410 803 722 for further details.

EAST FREMANTLE

Indulge in the complete serenity of this exceptional hilltop home, at 3/72 Preston Point Road, an ideal haven for professionals, downsizers and retirees who desire low-maintenance riverside living but don’t want an apartment. 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 with a gentle interior staircase with provision for an inclinator or lift down the track. Embrace a lifestyle of perpetual vistas and easy living in this tranquil riverside sanctuary. Anticipating buyer interest from $1,650,000. Open to view this Saturday from 10.30 – 11am.

WHAT’S NEW

FREMANTLE

You will absolutely fall in love with this exquisite 2 bedroom 2 bathroom apartment at 43/10 Quarry Street which impressively offers awe-inspiring vistas of the Fremantle port that simply must be witnessed to be fully appreciated. Nestled in an optimal locale, a mere five-minute drive from central “Freo”, beautiful Bathers Beach and even the picturesque riverfront, this totally-equipped residence, perched on the fourth floor of a quality modern complex, is a true marvel. Now priced from $685,000. Open to view this Saturday, 2nd March from 10-10:30am.

DEPARTMENT OF PROPERTY MANAGEMENT

The number of rentals was to be stable compared to the previous week. As reported by REIWA, there were 1,733 properties available for rent last week, only 0.4% lower than the previous week. While this is slightly more positive than last week’s statistics, the consistently low number of rental properties available and strong demand for these properties, will continue to put pressure on the rental market.

Our property management team is continuing to experience very high attendance at home opens, with a number of potential tenants expressing interest on properties. 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.

And if you’re a prospective tenant we have a number of new properties available for lease; including the following:

BICTON

Nestled in the heart of the picturesque Bicton neighbourhood, this charming 2-bedroom, 1-bathroom villa at 1/1-9 Kanimbla Street offers a lifestyle of convenience and comfort. Step into this modern light and bright villa which is completely renovated and thoughtfully designed. The focal point of the home is the spacious, renovated kitchen, equipped with ample storage space and stylish countertops. The open living area offers comfort and practicality, providing a versatile space for various activities. Situated just moments away from Melville Shopping Centre, you’ll have easy access to an array of shops, restaurants, and entertainment options, ensuring that all your daily needs are met with utmost convenience. This property is available for lease from the 8th of March 2024 for $600 per week. A 12 month lease is preferred. Applications accepted through 2Apply.

FREMANTLE

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 Essex Street – bringing the romance of Olde Worlde France to Central Fremantle. 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. The property is available for lease, for $950 per week, for a preferred 9 month lease. Applications accepted through 2Apply.

NORTH FREMANTLE

Discover the charm of low-maintenance living in this beautifully situated townhouse at 14/27 Burns Street, where convenience meets style beyond its prime location. This 2-bedroom residence boasts a serene ambiance with its expansive windows, soft, tree-filtered light, and charming outdoor spaces, including terraces and balconies. As evening falls, the vibrant Queen Victoria Street comes to life. Just a short 170m stroll away, you’ll find Mojos bar, live music venues, cozy wine bars, trendy cafes, and a variety of delicious dining options, making it the social heart of North Fremantle. The area also boasts excellent schools, shops, transport options, and is a stone’s throw from the bustling centre of Fremantle. The property is available for lease, for $795 per week, for a preferred 12 month lease. Applications accepted through 2Apply.

THIS WEEKEND

This Labour Day long weekend, Perth welcomes pop icon P!NK for her Summer Carnival Tour at Optus Stadium. Full of 2000’s hits and new music from her latest studio album, her Summer Carnival show is sure to be a blast!

The annual Sculpture by the Sea, Cottesloe gets underway this weekend at beautiful Cottesloe Beach. The exhibition is featured from the sea wall, all the way along the sand towards North Cottesloe and on the surrounding grassed areas creating a beautiful sculpture park. The exhibition is free and runs from 1-18 March.

So, if it’s dancing the night away at P!NK, a visit to the beach or Sculpture by the Sea or enjoying some well-earned down time at home, at the park or at one of the wonderful local restaurants/bars/cafes, we hope you have a relaxing and fulfilling long weekend, however you choose to spend it.

We will be opening our many beautiful listings over the weekend and, if you are looking to buy, sell or lease, we look forward to meeting you at one of our home opens.