END OF THE YEAR MY THOUGHTS!!

 With the new financial year approaching us tomorrow what is ahead for us in the future.

I believe that there is still a lot of buyers still in the marketplace and are wanting to purchase property. The fight for properties is still fierce and I believe it will be like that for the foreseeable future.

Although there are some agents reporting that Perth is having a slight softening in the market, I believe the top end maybe but the very top top end - no - just recently an off-market sale in The Combe Mosman Park netted the owner $21,500,000 - so things are not that tight, eh? 

8.6% in Perth over the last 12 months to June 1, apartments growing faster than houses, which is only saying one thing really, buyers cannot buy houses in those wealthy areas anymore.

Regional Western Australia outperformed again with a 12.5% lift in home values over the year to June 1.

First home buyers and investors you need to assess your options and act. There is plenty of opportunity for buyers all over the country right now. (Perth is my favorite of course) 

Sellers you can still expect excellent results if your homes are marketed and presented to the best of your ability. If you need any advice, please call us asap to give you some ideas.

Banks - The mortgage wars have restarted (not sorry for the banks I can assure you it's about time) banks are offering highly competitive fixed and variable rates (go to a broker you will get the best possible rate that is out there). More interest rates to come - so make sure you look at the variable - again go with a recommended broker. (email us for ours)

Baby boomers - they are busy freeing up their cash so they can help their family/siblings get into the housing market, they are also great investors, they can afford to buy somewhere and or look at the most suitable blocks to build what they seeking (since the builders are not building what they need)

High rents - gross yields on apartments remain above that 4% in every city and region and yields on houses are above 4% in all regional markets.

The high rents are increasing investor activity and inspiring more of the rental market to start looking at buying their own homes. The promise of the First Home Guarantee, which will allow all first home buyers, regardless of income, to purchase with a 5% deposit, no mortgage insurance and a government-guaranteed loan, you have to ask yourself will that bring more young people into the market across the country (seriously don't think so in Sydney do you?) First home buyers are going to struggle let's face it and if they don't get any help with parents it's going to be way too far out of their financial reach.

We would have one of the world's most valuable property markets right now, with the upper end prestigious homes, waterfront homes still attracting huge prices much more than homes in the world's most desirable lifestyle locations. (Perth has become a very desirable place to live and bring up your children)

One thing Australians are not that fond of is having their elderly parents in their back yard anymore - why is that? Is it because they have been having their children later and they still have those children they need to look after when their elderly parents also need their help, plus holding up a job - boy they have a lot on their plate?

Low- and middle-income earners are also facing significant challenges with this highly valuable market. People are appearing to remain strongly motivated to achieve home ownership. Rising trends such as the Bank of Mum & Dad, rentvesting, city switching, co ownership between friends and siblings, multi-generational living (well Perth's not too hot on that one) these are all examples of Australians creativity in finding ways to buy a home. (I can see us handing down the homes with their mortgages to the kids just like Hong Kong has been doing for many years) - if you don't believe it's coming just look at the house prices where you have lived for 30 years and wonder how the kids are going to get in now. 

Buy somewhere you can afford and rent where you want to live is one of the options, someone will always rent your place as rentals are so short.

One way or another if you have not bought or not intending on buying for a few years yet, god help you you will be buying way out of being close to the city.

MAKE YOUR OWN DECISIONS AND GIVE IT A REAL GO!!

SELLING MOSMAN PARK & THE WESTERN SUBURBS!!

KEEPING IT REAL IS OUR MOTTO!!