July Update
WA Market Update
For those of you who were unable to attend the REIWA event held at the Crown Casino last week, I have an updated a presentation that was delivered by Core Logic for your reference.
It’s pleasing to see that a lot of the content reflects what we are already experiencing, but what’s even more pleasing is the predictions of market improvement expected over the next 12 months.
The PowerPoint Presentation is attached for your reference however some of the key takeaways are;
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Investment and Owner Occupy lending has dived sharply over the last 12 months but eased as of April this year
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Expectation is that mortgage rates will likely fall by another 50 basis points over the next 12 months
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APRA reduced borrowers serviceability criteria from 7.25% to 7% which will increase the borrowing capacity of those seeking a mortgage
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Federal Election outcome: Positive for the Real Estate Industry
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Rising commodity prices and increased mineral exploration should help increase private sector investment
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Labour market in WA is steady
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Improved population growth
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Approved housing supply is low, making an undersupply of properties a positive one for the Real Estate Market as our population grows
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Forecasts anticipate a move into positive growth territory in approx. 12months time
We have endured several years of challenging conditions but it’s pleasing to see that many of you have survived and even strived. The hard work doesn’t stop now, in fact it’s time to ramp up your existing efforts to ensure you are on track to make the most of the improved conditions as they happen
Harcourts Beachside
Some of you may have heard that Rebecca Maloney of Harcourts Beachside has decided not to renew her franchise agreement and has sold her rent roll to a competitor in Two Rocks.
Rebecca found the demands of being a sole Business Owner and the challenges of being a single Mother too demanding on her time, as such she has decided to put family first and sell the Business, allowing her to focus more on her daughter. She has accepted a position as Senior Property Manager within the business she sold to.
During her 5 years with Harcourts, Rebecca was engaged as a member of our Marketing Committee and won the Best Presented Office both locally and nationally for her Yanchep office. It is with sadness we see her go, but wish her well in her future endeavours.
She has even indicated that should the opportunity arise, she would happily return to our Blue family.
As one door closes another opens!
Purple Bricks
Harcourts Initiative
It is with great pleasure and excitement that I can announce we are due to open our newest office on the 1st August.
John Tran and Alex Dabag are joining forces to open Harcourts Initiative in Malaga. John and Alex will focus their efforts on servicing the areas of Balga, Koondoola, Girrawheen, Mirrabooka, Malaga, Alexander Heights and Ballajura.
You can welcome them to the group by sending them an email to them john.tran.harcourts@gmail.com and alex.dabag.harcourts@gmail.com
