Wembley Property Ladder

Whats the market doing:

Firstly, sorry to all of those Eagles and Dockers fans for our Teams not bringing the premiership cup West! However the end of the AFL season does usually see the start of the real estate selling season and I will certainly welcome that after a very slow Sept Quarter.

New reiwa.com data shows that Perth’s median house price fell 2.7 per cent, or $15,000, to $535,000 in September, when compared to the June quarter. The adjustment in price of 2.7 per cent was quite modest given the high number of properties on the market.

“Currently we have almost 15,000 listings on the Perth market, which is up by about 3,000 on what we would consider a “normal”

The reiwa.com preliminary analysis also found sales turnover was down by 14 per cent on the June quarter, while listings for sale were up nine per cent on the quarter and up 44 per cent on the same time last year.

In Perth’s rental market, the vacancy rate lifted slightly to 5.4 per cent for the June to August period, with 8,311 rental properties on the market. This was almost 50 per cent more rental properties than the same time last year.

Looking at Wembley in isolation some interesting facts are;

Fast Facts

  • 28 properties for sale as of 10/10/2015 (which is 35% higher than this period last year)
  • 22 properties have sold or gone “Under Offer” in the September Qtr
  • Average days on market for current listings is 44
  • Daglish and Harborne streets had the most sales in the September Qtr- 3 each
  • Average sales price this Quarter was $1,032,000

The key drives that are influencing the market in Perth are also underpinning performance in Wembley.

The number one thing that we are seeing within our current properties for sale across all price ranges, is a lack of urgency from the buyers to make a decision. There are many factors influencing this behaviour however when it all balls down to it, it is the buyers concern about where the Perth property market is heading. None of us have a crystal ball, so nobody is able to predict the bottom of the market, so I would like to think the spring season will see an improvement in the past three months property performance.

At this time of the year people will now start to be thinking about what 2016 holds for them and people relocating from overseas and over east will start to be considering suburbs such as Wembley because of its proximity to great schools including the Wembley Primary School, as well as the fantastic private and public High Schools in the surrounds. Wembley also offers great lifestyle experiences now, such as its closeness to the coast as well as the CBD, and with the up and coming development of Cambridge street with its restaurants and new apartments will see Wembley becoming a much sought after suburb for years to come.

As always; please call me on 0411 110 779 if you need any advice with your real estate needs.

Current Listings

NoStreetBedsBathLand m2 (approx)List DateList PriceCurrent PriceDOMAgency
74ALEXANDER ST317211/10/2015$1,150,000$1,150,0008Acton Central
33ABARRETT ST4336402/09/2015Please call for detailsHigh $1Million's37Caporn Young Estate Agents - Claremont
39BARRETT ST313742/10/2015$895,000$895,0007Growth Realty
14bCONNOLLY ST33308N/A$1,000,000$1,000,000N/AActon Central
71ESSEX ST2165421/09/2015$1,100,000$1,100,00018McGees Property - West Perth
50GREGORY ST3169218/09/2015End Date SaleEnd Date Sale21Peard Real Estate Leederville
15GREGORY ST4267107/08/2015Auction$1,500,00062Acton Central
164HARBORNE ST316456/10/2015AuctionAuction3Acton Central
44HERDSMAN PDE4267201/07/2015$849,000$849,00098Bexleys Real Estate - Wembley
128AHERDSMAN PDE3254323/04/2015Call For DetailsBest Offer Fr $799,000166Empire Property Solutions
11HONEYEATER CIR5342515/09/2015Offers from $1,325,000Offers from $1,325,00024Ray White Centro
247JERSEY ST313861/10/2015AuctionAuction8Acton Central
25BJUKES WAY3227124/03/2015From $1,000,000From $875,000195Professionals Property Plus Canning Vale
10KEANE ST4372918/09/2015Offers Over $1,295,000Offers Over $1,295,00021The Property Exchange
43KEANE ST4236116/09/2015935,000$935,00023Realmark
67LAKE MONGER DR531,16130/07/2015$2,300,000$2,300,00069Buy My Place - SOUTH MELBOURNE
41AMARLOW ST3252919/09/2015AuctionAuction20Acton Central
41McKENZIE326537/10/2015Offers $1,275,000Offers $1,275,0002Property Exchange
119NANSON ST4164515/09/2015$1,200,000$1,200,00024Abel McGrath Property Group
48NANSON ST426458/10/2015Offers $1,200,000Offers $1,200,0001Bernade- Helman
43APANGBOURNE ST3239416/09/2015End Date SaleEnd Date Sale23Peard Real Estate Leederville
37BPANGBOURNE ST4247126/08/2015From mid $1msFrom mid $1ms43Perth Property Partners
24BRESERVE ST425637/10/2015AuctionAuction2Acton Central
200RUISLIP ST4240019/09/2015Set Date SaleSet Date Sale20Realmark Coastal
237RUISLIP ST3253225/06/2015$999,000$999,000104Acton Central
96RUISLIP STREET5368822/10/2014Offers$1,799,000344M & M Property
3_62SALVADO RD3292411/09/2015Mid $800,000'sFrom Mid $800,000's28Abel McGrath the property people
27SCADDAN ST4226220/02/2015$1,250,000Offers229Shellabears Real Estate

Sales September Quarter 2015

NoStreetBedsBathAsking PriceAgencySale PriceSale Date
49bALEXANDER ST42End Date SalePeard Real Estate Leederville$1,270,00026/08/2015
30aBARRETT ST42Contact AgentHawkins Smith Property$1,680,00028/07/2015
24bCONNOLLY ST32$849k +Paxton Hoad$763,00020/08/2015
121DAGLISH ST31AuctionActon Central$895,00029/08/2015
111DAGLISH ST42All Offers BySpace Realty$1,175,0001/07/2015
86ESSEX ST31From $1,100,000Able McGrath$1,180,00011/08/2015
71ESSEX ST21$1,100,000McGeees$1,100,00025/08/2015
179GREGORY ST43From $1,750,000Dome RealtyUNDER OFFER
119HARBORNE ST41AuctionActon Central$865,00010/09/2015
196HARBORNE ST31$850k - $9500kAbode Real Estate$855,00019/08/2015
156HARBORNE ST42Low $1million'sAble McGrath$1,060,00011/08/2015
34HOLLAND ST42$1,495,000 to $1,595,000BexleysUNDER OFFER
204JERSEY ST32EOIPerth Property Solutions$1,220,00029/08/2015
4KEANE ST42AuctionPeard Real Estate Leederville$1,350,0007/08/2015
61aKEANE ST31$735,000HarveysUNDER OFFER
71RUISLIP ST21$769,000Seniors Own Real Estate$769,00011/09/2015
19SCADDAN ST31OffersZsa Zsa Property$871,25012/08/2015
27aSIMPER STAuctionLJ Hooker Claremont$755,00025/07/2015
174aJERSEY ST22OffersRealmarkUNDER OFFER
47PANGBOURNE ST21$795,000Bexleys$715,000N/A
33aBARRETT ST43High $1,000,000Caporn YoungUNDER OFFER
Source: REIWA Disclaimer: All information contained herein, including text, photographs and data, is given in good faith and is provided for guidance only. Whilst every effort is made to provide correct information all figures and information are subject to change without notice and Peard Real Estate makes no guarantees, undertakings or warranties concerning the accuracy or completeness of the information provided. You should take independent steps to verify the accuracy of the information prior to relying on that information. Peard Real Estate Leederville Pty Ltd T/A Peard Real Estate Leederville T/C RA64721.

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