News

April Market Update – 2017

By Cameron Smart

Click to download —-> PDF Market Report

Ray White Cannington set April on fire in the sales department, with a massive 18 properties sold over the month, the best month in sales since mid 2015! There was a few properties that sold after extended periods on the market, as well as some properties selling after auction.

The success story for the month of April in sales, was the property at 336 Railway Parade in Beckenham, which sold at Auction under the hammer. The property had previously been marketed with another local agent for  the best part of 6 months, and had conditional offers, but they fell through. The campaign was extremely well lead by Steve Howell, the property saw 4 registered bidders on the day and with 2 of those bidders going toe to toe. The property is upcoming to settlement in mid May, and the owners were thrilled with the result and service Steve was able to provide them.

April also saw another listing blitz and in particular aimed towards Auctions, with 6 new properties listed to be sold by Auction at the upcoming “On the Market – The Auction Event”. The event is to be held on Saturday June 17th at the Perth Convention & Exhibition Centre, with a huge number of properties set to be Auctioned on one day of opportunity to showcase property to a huge audience of pre-approved buyers.

If you are seriously thinking to market your property and were considering taking the property to Auction, but wanted to to find out how it all works, feel free to get in touch any time to discuss things further on 0411 598 969.

In addition to the 18 sales registered for April, there were also 13 new properties listed, building up for a fairly decent May, and a very busy June.

There were also 120 new buyers met during the month at home opens and from internet enquiries, adding to the already extensive buyer database available at Ray White Cannington, which now sits at 11,394 buyers for all types of properties including investments, developments, upgrading families, downsizing couples as well as first home buyers.

The property management department has also had another great month, with 29 properties leased for the month, including 16 newly leased properties and 13 lease renewals negotiated.

Again we can attribute the strong team ethics and hard work for further positive comparisons when compar ing the performance of Ray White Cannington to the general Perth rental market.

We are very proud to be able to say our average days to find a tenant and lease a property are on average, less than the time it takes other local agencies and those who are leasing properties in the 6107 and surrounding suburbs. Our properties are also vacant for far less in comparison to other rental properties being looked after by other agencies.

RENTAL STATISTICS (taken from Rentfind.com.au)

Rental Vacancy Rate
Perth Market: 6.5% Vacancy Rate
Ray White Cannington: 5.3% Vacancy Rate (Current)

6107 – 120 Properties Leased, Days on Market Average of 48.48.15 Days, 37.34.02 Average of Days Vacant.
Ray White Cannington: 26 Property Leased, Days on Market Average of 48.26 Days, and the average days vacant only 18.5

SALES STATISTICS (taken from REIWA for April 2017)

Selling Days on Market Average – Up to 31st April 2017

Perth Market                   Ray White Cannington (1/1/17 – 25/5/17)
Private Treaty: 74 Days  Private Treaty: 72 Days
Auction: 27 Days            Auction: 66 Days (11 Auction campaigns) 4 Sold Under the Hammer, 7 Sold Post

If you are thinking to sell and would like an update on what you property may be worth in the current market, or you are just interested to find our your current property value, please get in touch and give the team a call at the office on 08 9351 8411.

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