Weekly Market Report
THE LOCAL MARKET
Last week, there was a notable increase in sales transactions, increasing 5.1 per cent from the previous week with 1,007 properties selling over the 7 days. House sales grew by 2.5 per cent, while land sales saw a significant jump of 47.8 per cent. Unit sales remained steady, showing no change from the week before.
The number of listings for sale decreased again last week after a strong week of sales, it is clear stock levels are not keeping pace with sales. There were 3,643 properties listed for sale as of the end of last week, marking a 4.6 per cent decrease from the previous week. Current listings are a significant 43.6 per cent lower than they were a year ago.
At White House, we are dedicated to consistently achieving the best outcomes for our clients. We are pleased to have placed SEVEN properties under offer this week.
Advisor & Negotiator, Louise Pope, placed 15 Mouquet Vista under offer last week as well as the Proposed Lot 2 at 77 Waddell Road, Bicton.
With the assistance of Stefanie Dobro, Catherine Fenna placed 20/46 East Street under offer, with delighted sellers and thrilled buyer.
Director & Licensee, Stefanie Dobro, placed four properties under offer last week. 8 McCleery Street was placed under off with a strong cash offer, after just one home open on Saturday. This week, Stefanie secured local buyers for 19 Bedford Street, who are excited to start their new chapter in this wonderful family home. 11A North Lake Road was also put under offer early this week after its first and only home open. The sellers are very happy with the result and the service of Stefanie and her team. Lastly, 78 Annie Street was placed under offer to buyers from Denmark last this week. We are so thrilled for both buyers and sellers.
FRESH TO MARKET
At White House, we are pleased to have launched TWO new properties to the market this week.
EAST FREMANTLE
Claiming a prime position in the spectacular Richmond Quarter complex is this stunning one bedroom, one bathroom apartment, at 8/3 Silas Street. This is the ultimate lock up and leave property, giving you plenty of time to enjoy the incredible lifestyle on offer in this highly sought after enclave within East Fremantle. This property suits many buyers including first home owners, down sizers or investors seeking a high growth opportunity. Offering an exceptional location and lifestyle with condominium facilities all within a resort like setting – you’ll simply love living here. Anticipating buyer interest in the mid $400,000s. This property will be open to view for the first time this Saturday 4 May, 10-10:30am
FREMANTLE
The Liv Apartment complex plays host to this stylish one-bedroom one-bathroom apartment at 57/51 Queen Victoria Street, that defines quality modern living, complemented by a common barbecue area, a secure single-car bay within the under-croft garage and a storage locker. Stroll to the popular Gesha and Broody Hen coffee spots, whilst taking full advantage of a very close proximity to the Fremantle Arts Centre, the local leisure centre, amazing wine bars the heart of central Fremantle and its buzzing cappuccino and restaurant strip and multiple cycle paths to beautiful beaches and lush local parks. Anticipating buyer interest in the high $400,000s to early $500,000s. This property will be open to view for the first time this Saturday 4 May, 12:30-1:00pm
WHAT’S NEW
HARRISDALE
Nestled in a sought-after locale, this contemporary 3-bedroom abode at 6 Times Street, presents an enticing opportunity for a diverse range of buyers, including first-time homeowners, downsizers, investors, and those yearning for a hassle-free lifestyle. Boasting a fusion of modern aesthetics and functionality, this home offers a secure and comfortable living experience. This property will be open Saturday 4 May from 1:00-1:30pm. Now priced From $599,000.
DEPARTMENT OF PROPERTY MANAGEMENT
The rental market remained stable with 2,096 properties available, similar to the previous week’s figures but up 13.3 per cent from four weeks prior and 4.4 per cent from the previous year. Despite a weekly decrease of 9.4 per cent in leased properties, rentals were up 12.2 per cent from four weeks ago and 7.8 per cent from this time last year.
The latest statistics from REIWA bring some good news from tenants, with rental prices remaining steady over the month of April. “In a constant climate of rising rents, this is very welcome news,” REIWA CEO Cath Hart said. The median weekly dwelling and median house rents were $650, unchanged from March. The median unit rent also held steady at $600 per week.
Cath also noted, “Rental listings have been below 2,000 for most of the last two years, so it’s very pleasing to see them increase… this could reflect new supply coming to the market.”
If you have been considering leasing your property or would like to know more about leasing your property, please get in touch with 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;
BICTON
Welcome to 96 Murray Road, Bicton! This thoughtfully refurbished family residence provides bright and airy living spaces that leave a lasting impression. As you enter, you’ll find a big open space for living, dining, and cooking, complete with stone counters and modern appliances. The living room opens up to a covered outdoor area, perfect for relaxing or hosting guests. You’ll also find a front courtyard for extra entertaining space or soaking up the sun. Plus, the garden is low-maintenance, giving you more time to enjoy it. This property is available for lease from the 8th of May 2024, for $950 per week, for a minimum 12-month lease preferred. Applications accepted through 2Apply.
EAST FREMANTLE
Located in an endearing and sought-after mews development in the heart of East Fremantle, 13/27 Osborne Road is a light-filled three-bedroom, one-bathroom townhouse that is the quintessential lock-and-leave with cosy, coastal charm. Known for its family-friendly, safe and diverse community, this home is equally adaptable to small families, couples or singles seeking a low-maintenance, active lifestyle in one of the country’s most spectacular riverside enclaves. This property is available for lease, for $720 per week, for a minimum 12-month lease preferred. Applications accepted through 2Apply.
FREMANTLE
Welcome to your cosy new apartment, conveniently located near Fremantle’s lively centre at 510/52 Adelaide Street. This modern 1 bedroom, 1 bathroom unit is designed with your comfort in mind. You’ll also have access to a secure undercover car bay and a separate storage room. Plus, the building has a secure entry foyer for peace of mind. Located just minutes from Fremantle’s attractions, including cafes, shops, and the train station, this apartment offers a fantastic lifestyle opportunity! This property is available for lease from the 3rd of May 2024, for $650 per week, for a minimum 12-month lease preferred. Applications accepted through 2Apply.
