News

Although some may be sad to say goodbye to 2019, WA’s property market says good riddance after a sluggish year in real estate recorded by the many properties that featured in House That!

West Coast footballer, Nic Naitanui is just one Australian influential person that has felt the real estate slump as his once $1.285 million-dollar home purchased in 2012 has now been placed on the market from $799,000.

Others feeling the real estate slump include Ian Goodenough who has struggled to sell his 6-bedroom Mindarie home and Malcolm Steinburg who has suffered the longest listing period with his Mosman Park home being on the market for over 1912 days.

Apartments in WA have also fallen 10% from a median price of $510,000 in Mid-2016 to $460,000 in 2019.

Although this may not be amazing news for sellers in WA, it could be welcoming news for buyers and investors. Recent data collected from CoreLogic implied that Perth is set to have a 6% rise in home values this year following two consecutive months of growth over November and December, this news is welcomed by all with open arms.

This is a summary of the article “Missing the ‘mark’ in real estate 2019” by Kim MacDonald | The West Australian | Thursday 26th December