INNER NORTH MARKET INSIGHTS WINTER 2023 Courtesy of Ray White Inner North
1 As Perth has shivered through some record breaking lows this winter, the property market has also seen record breaking lows in stock availability. This has been good news for sellers with the average property selling in 10 days. We are delighted to update you on the activity in Inglewood, Mount Lawley, Mount Hawthorn, North Perth, Joondanna, Yokine and surrounds. As temperatures drop we have seen interest rates rise. This coupled with cost of living pressures have resulted in a significant impact on the market. With a shortage of stock available, buyer demand has driven property prices - winter certainly has been the season for sellers! A MESSAGE FROM
2 Continued hesitation in the building industry has seen home and land packages no longer a viable choice with standalone homes continuing to be the bestselling property type. Renters are fighting hard to get into the property market resulting in units, villas and apartments becoming an attractive choice to pull them out of the rental cycle. With rental prices soaring over recent months, investors continue to be attracted to the Perth market due to the strong rental return and low vacancy rates. Despite the challenges we face in today’s market, our extraordinary team continues to exceed all expectations, attaining outstanding results for our clients across the board. We could not be any prouder of their achievements, and we look forward to helping our clients throughout the remainder of the year. We hope you enjoy the read! M OUR DIRECTORS Matt Seabrook | Arash Kalani | Simon Pigliardo Directors, Ray White Inner North
3 RECENT SALES IN MOUNT LAWLEY “Helen was personable, professional and very helpful in guiding us through the process of selling our home. Most importantly, Helen worked hard to find suitable buyers for our property. For buying or selling, I can put my hand on my heart and recommend Helen - our experience with Helen and her team was excellent and nothing short of a pleasure.” ANTHONY AND TANYA Helen Bond | 0411 223 004 | helen.bond@raywhite.com 6 2 2 2 2 3 2 2 4 6 3 3 SOLD $1,650,000 SOLD $2,550,000 SOLD $2,000,000 SOLD $1,225,000 89 Railway Parade, Mount Lawley 45 North Street, Mount Lawley 29 Hill View Road, Mount Lawley 34 Second Avenue, Mount Lawley
4 FAST FACTS – MOUNT LAWLEY 1. Source: Core Logic RPData 08 April - 08 July 2023 4. 38 MOUNT LAWLEY HOUSES MEDIAN $1,150,000 HIGHEST $3,900,000 LOWEST $350,000 UNITS MEDIAN $397,000 HIGHEST $930,000 LOWEST $225,000 26 HOUSES SOLD LAST QUARTER 2. UNITS SOLD LAST QUARTER 30 3. HOUSES AVERAGE DAYS ON MARKET SALES $950K 60 $1.1M 120 $1.25M 180 $800K 0 2019 2020 2021 2022 2023 NUMBER SOLD MEDIAN HOUSE SALE PRICE
5 RECENT SALES IN INGLEWOOD “Matt is committed to long term customer service and takes time to build strong relationships with the local community. A committed salesman but one who sees the long game and treats all parties to a sale with respect in order to achieve their outcomes.” JARRAD Seabrook Team | 0435 227 120 | matt.seabrook@raywhite.com 2 4 2 2 3 2 1 2 4 3 3 3 SOLD $1,400,000 SOLD $970,000 SOLD $970,000 SOLD $810,000 239A Ninth Ave, Inglewood 139 Sixth Avenue, Inglewood 312 Crawford Rd, Inglewood 136B Ninth Avenue, Inglewood
6 FAST FACTS – INGLEWOOD 1. Source: Core Logic RPData 08 April - 08 July 2023 4. 35 INGLEWOOD MEDIAN $1,170,000 HIGHEST $1,682,500 LOWEST $689,000 MEDIAN $699,500 HIGHEST $3,100,000 LOWEST $279,000 12 HOUSES SOLD LAST QUARTER 2. UNITS SOLD LAST QUARTER 13 3. HOUSES AVERAGE DAYS ON MARKET SALES HOUSES UNITS 30 60 90 0 $800K $900K $1.0M $700K 2019 2020 2021 2022 2023 NUMBER SOLD MEDIAN HOUSE SALE PRICE
7 RECENT SALES IN MOUNT HAWTHORN “Annie is the only person to speak to if you are buying or selling in Mount Hawthorn. We bought and then sold in a very short time period and achieved a good result on the purchase and a great result on the sale. Refreshing to work with an agent that tells it like it is.” MATT Annie Kowal | 0418 795 654 | annie.kowal@raywhite.com 3 3 2 2 2.5 3 1 2 4 4 4 4 SOLD $2,120,000 SOLD $1,675,000 SOLD $1,700,000 SOLD $1,650,000 99 Fairfield Street, Mount Hawthorn 103 Anzac Road, Mount Hawthorn 113 Fairfield Street, Mount Hawthorn 33 Buxton Street, Mount Hawthorn
8 FAST FACTS – MOUNT HAWTHORN 1. Source: Core Logic RPData 08 April - 08 July 2023 4. 40 MT HAWTHORN MEDIAN $1,100,000 HIGHEST $2,012,300 LOWEST $800,000 MEDIAN $495,000 HIGHEST $1,448,000 LOWEST $380,000 17 HOUSES SOLD LAST QUARTER 2. UNITS SOLD LAST QUARTER 11 3. HOUSES AVERAGE DAYS ON MARKET SALES HOUSES UNITS $1.0M 50 $1.2M 100 $1.4M 150 $800K 0 2019 2020 2021 2022 2023 NUMBER SOLD MEDIAN HOUSE SALE PRICE
9 RECENT SALES IN COOLBINIA/NORTH PERTH “Simon was very professional and very understanding when dealing with my elderly mother. Nothing was too much trouble. Always replied promptly to emails and phone communications. Simon is very knowledgeable in his job and we would highly recommend him to everyone. He made selling mum’s home of nearly 50 years a very comfortable and pleasant experience.” BEVERLY Simon Pigliardo | 0419 945 652 | simon.pigliardo@raywhite.com 1 2 2 1 1 2 3 2 3 4 3 3 SOLD $1,800,000 SOLD $1,700,000 SOLD $2,180,000 SOLD $890,000 125 Chelmsford Road, North Perth 38 Ardross Crescent, Coolbinia 30 Meenaar Crescent, Coolbinia 20 York Street, North Perth
10 FAST FACTS – COOLBINIA 1. Source: Core Logic RPData 08 April - 08 July 2023 4. COOLBINIA MEDIAN $1,400,000 HIGHEST $1,675,000 LOWEST $1,375,000 3 HOUSES SOLD LAST QUARTER 2. UNITS SOLD LAST QUARTER 2 3. HOUSES AVERAGE DAYS ON MARKET SALES HOUSES UNITS MEDIAN $505,000 HIGHEST $650,000 LOWEST $360,000 NOT AVAILABLE $1.3M 15 $1.5M 30 $1.7M 45 $1.1M 0 2019 2020 2021 2022 2023 NUMBER SOLD MEDIAN HOUSE SALE PRICE
11 RAY WHITE INNER NORTH NEWS NEW TO THE TEAM Ryan Kowi Assistant Property Manager Ryan has a strong customer service based background with a keen eye for detail and a client first approach. Having previously worked for a luxury brand, this has allowed him to develop a strong set of skills and a broad exposure to problem solving and strategic thinking. His warm personality, strong work ethic, people skills and attention to detail are sure to benefit our clients.
12 Ray White Inner North celebrated our EOFY in style at Santini Bar and Grill in the city. The endless courses of delicious food and drinks were met with an evening of great company. A special thank you to our amazing Sales and Property Management Teams for all their hard work and dedication, it was the perfect end to a very successful year for our office. END OF FINANCIAL YEAR DINNER SPONSORED BY ANNIE KOWAL We are always excited to see our Agents getting involved in their local communities. A big shout out to Annie Kowal who sponsors the Year 9 Mount Hawthorn Cardinals Footy Club and the Leedy Lions Basketball Club. Annie’s generous donations help keep these local community groups running and in turn keep our kids active!
13 RECENT SALES IN NORTH PERTH “Ben was professional in all our dealings from start to end of the sale process. He was very attentive, thorough and helpful in explaining the sales and marketing process and has a good understanding of the sales price and target market. A pleasure to work with and highly recommended.” - CHRIS & RACHEL Ben Connor | 0410 425 397 | ben.connor@raywhite.com - - 2 Land 228m2 1 2 2 2 4 3 SOLD $390,000 SOLD $1,610,000 SOLD $1,200,000 SOLD $615,000 22/217 Walcott Street, North Perth 32 Hobart Street, North Perth 14 Union Street, North Perth 130 Vincent Street, North Perth
14 FAST FACTS – NORTH PERTH 1. Source: Core Logic RPData 08 April - 08 July 2023 4. MEDIAN $930,000 HIGHEST $1,875,000 LOWEST $695,000 MEDIAN $490,000 HIGHEST $1,250,000 LOWEST $195,000 16 HOUSES SOLD LAST QUARTER 2. UNITS SOLD LAST QUARTER 21 3. HOUSES AVERAGE DAYS ON MARKET SALES HOUSES UNITS 39 NORTH PERTH $900K 60 $1.0M 120 $1.1M 180 $800K 0 2019 2020 2021 2022 2023 NUMBER SOLD MEDIAN HOUSE SALE PRICE
15 RECENT SALES IN YOKINE “Carla is a wonderful agent and we have loved working with her to sell our house. Carla was so helpful and kind throughout the process. She always kept us in the loop with everything and went way above to keep us and the buyers happy throughout the sale process.” ADI Carla Yazmadjian | 0415 839 588 | carla.yazmadjian@raywhite.com 2 2 2 1 2 4 2 1 3 4 3 3 SOLD $1,292,000 SOLD $1,650,000 SOLD $720,000 SOLD $470,000 32a Wandarrie Avenue, Yokine 135a Virgil Avenue, Yokine 20 Spencer Avenue, Yokine 3/4 Yarruk Street, Yokine
16 FAST FACTS – YOKINE 1. Source: Core Logic RPData 08 April - 08 July 2023 4. MEDIAN $695,000 HIGHEST $1,650,000 LOWEST $425,000 MEDIAN $470,000 HIGHEST $820,000 LOWEST $210,000 21 HOUSES SOLD LAST QUARTER 2. UNITS SOLD LAST QUARTER 33 3. HOUSES AVERAGE DAYS ON MARKET SALES HOUSES UNITS 38 YOKINE $600K 100 $700K 150 $800K 200 $500K 50 2019 2020 2021 2022 2023 NUMBER SOLD MEDIAN HOUSE SALE PRICE
17 RECENT SALES IN JOONDANNA “Very honest and straightforward from the start. Selling this property was the easiest we have done so far. Ralph was very professional and helpful.” LAKMINI Ralph Seymore | 0474 111 886 | ralph.seymore@raywhite.com 2 2 2 - 2 2 2 3 3 3 3 4 SOLD $720,000 SOLD $852,000 SOLD $915,000 SOLD $900,000 155a McDonald Street, Joondanna 7/49 Powell Street, Joondanna 23a Stoneham Street, Joondanna 1 Stoneham Street, Joondanna
18 FAST FACTS – JOONDANNA 1. Source: Core Logic RPData 08 April - 08 July 2023 4. 29 JOONDANNA MEDIAN $803,000 HIGHEST $950,000 LOWEST $375,000 MEDIAN $416,000 HIGHEST $1,080,000 LOWEST $200,000 14 HOUSES SOLD LAST QUARTER 2. UNITS SOLD LAST QUARTER 24 3. HOUSES AVERAGE DAYS ON MARKET SALES HOUSES UNITS $700K 40 $800K 80 $900K 120 $600K 0 2019 2020 2021 2022 2023 NUMBER SOLD MEDIAN HOUSE SALE PRICE
19 PROPERTY MANAGEMENT Choosing who to have your property professionally managed by is a big commitment whether it’s your first property, the family home or part of a growing investment portfolio, we know how important it is for you to know your biggest asset is being looked after to the highest standard and creating wealth for your future. Sinead alongside the rest of the team at Inner North have the expertise, market insight and will always have your best interests at heart. Sinead McConnell | 0477 805 819 | sinead.mcconnell@raywhite.com 1 2 2 2 2 2 2 2 3 4 4 3 LEASED $1200 per week LEASED $1100 per week LEASED $1300 per week LEASED $750 per week 2 Vine Street, North Perth 75 East Street, Mount Hawthorn 18 Hartwell Street, Coolbinia 359 Crawford Road, Inglewood
20 Median weekly house rent (3 bed) Median weekly unit rent (2 bed) Mount Lawley $750 $495 Inglewood $708 $475 Mount Hawthorn $675 $575 Coolbinia $725 $448 North Perth $710 $610 Yokine $600 $450 Joondanna $688 $480 FAST FACTS – LEASING Source: Core Logic RPData 08 April - 08 July 2023 4 2 2 4 2 1 LEASED $950 per week LEASED $875 per week 12 Hunt Place, Maylands 10 Woodroyd Street, Mount Lawley
Do you know how much you can borrow? In partnership with Diana Armour, Finance Broker 0404 004 498 | diana.armour@loanmarket.com.au broker.loanmarket.com.au/diana-armour Loan Market Pty Ltd | Australian Credit Licence 390222
Loan $000s 400 500 600 700 800 900 1,000 1,500 2,000 2,500 3,000 4.50% 2,027 2,533 3,040 3,547 4,053 4,560 5,067 7,600 10,134 12,667 15,201 4.75% 2,087 2,608 3,130 3,652 4,173 4,695 5,216 7,825 10,433 13,041 15,649 5.00% 2,147 2,684 3,221 3,758 4,295 4,831 5,368 8,052 10,736 13,421 16,105 5.25% 2,209 2,761 3,313 3,865 4,418 4,970 5,522 8,283 11,044 13,805 16,566 5.50% 2,271 2,839 3,407 3,975 4,542 5,110 5,678 8,517 11,356 14,195 17,034 5.75% 2,334 2,918 3,501 4,085 4,669 5,252 5,836 8,754 11,671 14,589 17,507 6.00% 2,398 2,998 3,597 4,197 4,796 5,396 5,996 8,993 11,991 14,989 17,987 6.25% 2,463 3,079 3,694 4,310 4,926 5,541 6,157 9,236 12,314 15,393 18,472 6.50% 2,528 3,160 3,792 4,424 5,057 5,689 6,321 9,481 12,641 15,802 18,962 6.75% 2,594 3,243 3,892 4,540 5,189 5,837 6,486 9,729 12,972 16,215 19,458 7.00% 2,661 3,327 3,992 4,657 5,322 5,988 6,653 9,980 13,306 16,633 19,959 7.25% 2,729 3,411 4,093 4,775 5,457 6,140 6,822 10,233 13,644 17,054 20,465 7.50% 2,797 3,496 4,195 4,895 5,594 6,293 6,992 10,488 13,984 17,480 20,976 7.75% 2,866 3,582 4,298 5,015 5,731 6,448 7,164 10,746 14,328 17,910 21,492 8.00% 2,935 3,669 4,403 5,136 5,870 6,604 7,338 11,006 14,675 18,344 22,013 8.25% 3,005 3,756 4,508 5,259 6,010 6,761 7,513 11,269 15,025 18,782 22,538 8.50% 3,076 3,845 4,613 5,382 6,151 6,920 7,689 11,534 15,378 19,223 23,067 8.75% 3,147 3,934 4,720 5,507 6,294 7,080 7,867 11,801 15,734 19,668 23,601 9.00% 3,218 4,023 4,828 5,632 6,437 7,242 8,046 12,069 16,092 20,116 24,139 * (Principal and interest) - Figures quoted are indicative only, individual loan contracts may vary. Based on a 30 year loan. How much will your monthly repayment be? The table below breaks down how much your monthly repayments could be depending on the value of the loan and its interest rate. Note that this is a guide only to help you identify what you might be able to afford - reach out to chat about your unique circumstances and the right strategy for you. Reach out to discuss what interest rate you could get. Based on a 30 year loan. These scenarios may not include all fees and charges. This is not a quote or offer and should not be relied upon. These rates and calculations do not constitute a recommendation. We always recommend seeking out professional and qualified expertise to assist with individual scenarios. In order to make a recommendation a full assessment would be required. Terms, conditions, fees and charges may apply. Normal lending criteria apply. Rates subject to change. Approved applicants only. Loan Market Pty Ltd | Australian Credit Licence 390222. Consider the change to your monthly repayment when the loan amount increases by $10,000 Find your loan at broker.loanmarket.com.au/diana-armour In partnership with Diana Armour, Finance Broker 0404 004 498 diana.armour@loanmarket.com.au Loan Market Seriously helpful.
ELITE REAL ESTATE PROFESSIONAL SUPPORTING LOCAL westendsettlements.com.au Our highly experienced Perth conveyancing and property settlement team offer exceptional service, competitive prices and deliver timely settlements with a minimum of stress for our clients. Erica Settineri Managing Director 0419 916 533 Shop 6, 7 Scarborough Beach Road, North Perth erica@westendsettlements.com.au Ray White Inner North 330 Fitzgerald Street, North Perth WA 6006 | (08) 6377 8888 raywhiteinnernorth.com.au 0431 330 358 Email: admin@thinspect.com.au www.thinspect.com.au • Building & Pest Inspections • Registered Builder (No. BC101983) • Covered with Professional Indemnity Insurance Helen Bond AN AWARD WINNING AGENT REIWA Grand Master 2021, 2022 & 2023 Ray White Elite Performer 2021, 2022 & 2023 Top 3 Client Choice - Individual 2021 PROVEN, DRIVEN, PASSIONATE Call now for an appraisal! Helen Bond 0411 223 004 helen.bond@raywhite.com
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