Street Reports-DOONAN,MARITA,VINCENT

Hi Property Lovers

Ive decided to start a new section on my blog which will allow you to get a in-depth look into each individual street's sales and performance since 2007 until now. I'll be doing 3 streets at a time in various parts of Nedlands


DOONAN ROAD, NEDLANDS
2 Doonan Road, $1,100,000, 332sqm sold on 5.11.07
8 Doonan Road, $1,450,000, 995sqm sold on 18.7.07
27 Doonan Road, $1,760,000, 920sqm sold on 17.3.08
69 Doonan Road, $2,550,000, 765sqm sold on 8.4.08


MARITA ROAD
8 Marita Street, $1,294,000, 924sqm sold on 22.10.08
41 Marita Street, $1,900,000, 913sqm sold on 13.9.07
47 Marita Street, $1,750,000, 915sqm sold on 17.7.07
48 Marita Street, $1,850,000 915sqm sold on 28.9.07


VINCENT STREET
29 Vincent Street, $1,949,000, 991sqm sold on 21.10.07
33 Vincent Street, $1,975,000, 991sqm sold on 13.8.07
45 Vincent Street, $2,225,000, 993sqm sold on 26.5.09

As you can see, there is a significant price variation depending where the house is located on the street,with houses towards the Hwy rarely achieving the prices of properties that are situated towards Melvista Avenue(The Dalkeith boarder) for obvious reasons.

The average price for land in the " Melvista Ward" is approxiamatley between $1.6mil-$1.9mil. ...and land closer to the Hwy will acheive around $1,250 p/sqm threfore homes that have been improved in the Melvista Ward obtaining a premium sale price.

Of more recent years,I'v noticed buyers having an increasing interest in Streets west of Vincent ...their reasons behind this being - proximity to Private schools &" College Park" .(the above streets are in this precinct.)

Over the next several months, I'll be doing this for all Streets in Nedlands, Both North and South of the Highway, though if you are interested in getting your street done sooner, please dont hesitate to contact me.

Thinking of buying or selling in Nedlands? Call me anytime.

.......THE BUDGET........

Hi property lovers

Well, well well, after much waiting and guessing, Wayne Swan and Kevin Rudd have delivered one of Australia's most anticipated budget in the nations history! With the nation in a deficit of $57.6 Billion and now Mr Swan saying the Commonwealth finances will be in the RED until 2015.

THE Government says it's one of the most difficult ever peacetime Budgets but there were winners among the losers.Home buyers, pensioners, students and parents-to-be were among the winners, but what does this mean to you as home buyers/owners and investors?

Firstly, It was one of the most hotly anticipated issues leading up to the Treasurer's speech, and now we know the boost to the first home owners grant will be continued in full until October 1. From then, it will be halved to $10,500 for existing homes, and $14,000 to new homes. The boost will end on December 31, although the existing $7000 first home owners grant will continue. Kevin Rudd had previously hinted the boost would end by prophesising "all good things must come to an end" in the weeks leading up to the Budget. The boost to the grant has cost the Government around $480 million this year. Mr Rudd's comments sent prospective first-time buyers into a panic, sparking a rush on weekend house auctions and home opens.

Since the introduction of doubling the first home owners grant come into play in October last year, Perth's property market has slowing been creeping back, especially in the last several months of the year, with not only the lower end of the market showing a significant number of sales, but also the middle and top end seeing the highest number of sales in over a year.

There was grave concerns that if the Government didn't extend the grant in the budget, The property market would loose its current momentum and yet again calapse. Many property experts are still very wary regarding the extension of the grant, fearing many first time buyers will flood into the market before the grant finishes in October, but with unemployment on the rise this could mean many will default on the mortgage re-payments causing a mini "Sub-Prime' effect bringing house prices even lower in value.

But its not all doom and gloom, If the unemployment level can stay at a reasonable level (even though unemployment is due to hit 8.25% in 2010/11, this equates to 1 million out of work) and confirmation of a third stimulus package focusing on infrastructure, with $575m being handed to WA from the Commonwealth to sink the Northbridge rail line and to develop the Oakejee Port North of Geralton. "The part that government, both state and the commonwealth will fund is the common user infrastructure which we (government) will own and control and charge for. That runs to about $700 million. Beyond that will be private sector investment – in total around $4 billion."

This will no doubt create mass amount of jobs for West Australians with works to start for both projects in 2010. This will be a major boost for the West Australian economy over many years.

So how does this effect you.......the property lover?

Prices will continue to stabilise and with the government backed First Home Buyers grant and infrastructure projects. Unemployment will continue to rise but not explode.

Interest rates should remain around the same level with a possible future reduction, there for short-medium term affordability is looking good- making NOW an excellent time to seriously look!! And now with confidence returning, the buyers are attracted to properties that offer VALUE for money.

So, if you are considering a move, may i suggest a realistic up to date appraisal be your first step in the process.

I would love to here any input you property lovers have on this budget or my thoughts. Please feel free to comment below.

COMING THIS WEEK...THE BUDGET

Hi property Lovers

With sooooo much talk in the press this week about the up coming budget, i thought i will give you a insight to how it will afect your property and the real estate market.

Stay tuned!

Remember, for a obligation free market apprasial on your property, call me anytime.

For Sale 8 HillWay, Nedlands

Hi Property Lovers

This home is really just one of a kind!A renovated & extended character home with premium period features including a century old chimney. This large family residence has everything you need with generous accommodation, open plan living and picturesque gardens and grounds. Located close to shops, cafe's and of course the river

Accommodation: 4 bedroom, 2 bathroom, open plan kitchen meals & family, formal dining, formal lounge, rumpus room/study, cellar, work shed, massive landscaped gardens and grounds, 2 car garage.

This home has great period features, but the comfort and practicality of modern living. This is THE perfect family home, set over a massive 1012sqm landholding with magnificent gardens and grounds and perfectly located less than 5 minute walk to the river.

For any more information or to organize a private inspection, please don't hesitate to contact me.

Thinking of buying or selling in Nedlands? Call me anytime.

COMING UP!

Hi property lovers

Coming up next week........Set in the highly sought after river prescient this large family home on a massive block has everything the growing family needs!!!! you will NOT want to miss out on this great opportunity!

For more information please call me on 0411 645 174.

Thinking of buying or selling in Nedlands? Call me anytime.

April Sales

Hi property lovers

The sales figures for Nedlands & Dalkeith in April are:

12 Sold in Nedlands

4 sold in Dalkeith

Since February we have seen a lot more movement within the Western Suburbs. There seems to be a lot of new buyers around, and more importantly, a few more cash buyers in the market. Since February I personally conducted 9 sales to the value of $13,398,000 and since February, the team at Mack Hall & Associates have achieved at least one sale a day!

Properties that are correctly priced and represent good value, will sell regardless of what type of market we are in....and given the fact -the " variable rate" is stable ( the lowest it has been in 40 years) as well as the noticable discount from 2007 levels..I recommend that NOW is a great opportunity to not only " up-grade" but also invest!

For an obligation free market appraisal of your property, please don't hesitate to contact me.

Thinking of buying or selling in Nedlands? Call me anytime.

Weekend 02.05.2009

Hi property lovers

This weekends home open where yet again well attended. I had 23 people over 4 home opens and strong interest in 1 property particularly which is land value only. On Sunday a private viewing was conducted on 27 Thomas Street, Nedlands, which is an exceptional property, newly constructed 4 bedroom 3 bathroom. I personally feel that this is one of the best properties for Sale in Nedlands

Also, if you believe what is reported in the press, the current variable rates will be steady and un-changed.

For more information of last weeks home opens please don't hesitate to contact me.

Thinking of buying or selling in Nedlands? Call me anytime.