REAL ESTATE – WESTERN AUSTRALIA – RESIDENTIAL

Port Hedland’s iron spirit surfaces again

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Original article by Paul Garvey
The Australian – Page: 19 & 22 : 21-Mar-17

Housing rent charges in Port Hedland rose by $A10 per week in the December 2016 quarter, according to data from the Pilbara Development Commission. It was the first quarterly rise in rents since 2012, and reflects the recent rebound in the iron ore price. The average advertised sale price of homes in Port Hedland rose for the first time since 2013. The average rent in Port Hedland is now $A506 per week, compared with nearly $A2,600 at the height of the mining boom. The iron ore price has reached a peak of more $US90 per tonne, but many forecasters do not expect this to be sustained.

CORPORATES
PILBARA DEVELOPMENT COMMISSION, EVANS AND PARTNERS PTY LTD, WESTERN AUSTRALIA. DEPT OF TREASURY AND FINANCE, RIO TINTO LIMITED – ASX RIO, BHP BILLITON LIMITED – ASX BHP, FORTESCUE METALS GROUP LIMITED – ASX FMG, FIRST NATIONAL REAL ESTATE GROUP

Pilbara property crash could be over

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Original article by Julie-anne Sprague
The Australian Financial Review – Page: 6 : 5-Jan-17

House prices in Western Australia’s Pilbara region are unlikely to continue to decline. Hedland Property Shop MD Jim Henneberry says a recent increase in sales turnover suggests that the local real estate market is about to rebound, after several years of dramatic falls. The median house price in South Hedland fell 70 per cent in just four years, from $A850,000 to $A250,000.

CORPORATES
HEDLEY PROPERTY SHOP, SQM RESEARCH PTY LTD, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA

Two more years of pain for Perth

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Original article by Jonathan Barrett
The Australian Financial Review – Page: 5 : 5-Jan-16

Residential property values in Perth declined in the fourth quarter of 2015, according to the CoreLogic RP Data Home Value Index, although home prices rose during December. Meanwhile, Satterley Property Group founder Nigel Satterley expects Perth’s residential market to continue to struggle over the next two years. Satterley Property Group typically sells 2,500-3,000 housing lots in Perth each year, but this is forecast to fall to 1,800-2,000 in 2016.

CORPORATES
CORELOGIC AUSTRALIA PTY LTD, RP DATA LIMITED, THE SATTERLEY PROPERTY GROUP PTY LTD, REAL ESTATE INSTITUTE OF WESTERN AUSTRALIA

WA braces for housing slump

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Original article by Jonathan Barrett
The Australian Financial Review – Page: 3 : 12-May-15

The Western Australian Government’s revenue from property-related taxes is forecast to be between $A2.6bn and $A2.9bn annually over the next four years. However, slowing sales of residential properties may adversely affect state revenue, and Hegney Property Group’s Gavin Hegney expects house prices to fall by 1-2 per cent in 2015. Demand for housing is expected to fall as population growth slows.

CORPORATES
HEGNEY PROPERTY GROUP, BANK OF WESTERN AUSTRALIA LIMITED, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, LIBERAL PARTY OF WESTERN AUSTRALIA

Smaller blocks all the rage in Perth

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Original article by Kate Emery
The West Australian – Page: 7 : 5-Jan-15

Data from Western Australia’s Department of Planning shows that there has been a sharp rise in the number of housing lots in Perth that are less than 500sq m. The median size of housing lots in Perth and the Peel Region was 564sq m in 2004, but this fell to just 410sq m in 2014. Joe Lenzo of the Property Council notes that house sizes have generally not changed, despite the trend toward smaller residential lots

CORPORATES
WESTERN AUSTRALIA. DEPT OF PLANNING, PROPERTY COUNCIL OF WESTERN AUSTRALIA, URBAN DEVELOPMENT INSTITUTE OF AUSTRALIA (WESTERN AUSTRALIAN DIVISION) INCORPORATED, BEXLEYS REAL ESTATE

Outer suburbs join $1m club

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Original article by Shane Wright, Liam Croy
The West Australian – Page: 9 : 26-Aug-14

Nearly 50 suburbs in Perth have a median house price of at least $A1 million in 2014. RP Data-Rismark reported that the most expensive suburb was Peppermint Grove, with a median price of over $A3.7 million. Other expensive suburbs are Dalkieth, Cottesloe, City Beach, Applecross, Swanbourne and Mosman Park. However, the prices of houses in some suburbs on the outer fringes have increased. The median price for a house at Mariginiup is $A1.3 million

CORPORATES
RP DATA LIMITED, CORELOGIC AUSTRALIA PTY LTD, RISMARK INTERNATIONAL PTY LTD, PEARD AND ASSOCIATES REAL ESTATE