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Dec 20, 2022
Will underground power increase property prices in North Perth?
In news for prospective buyers of real estate, and existing homeowners in North Perth, Mt Hawthorn, West Perth, and Leederville, new work is coming to install underground power. The City of Vincent announced last Friday, 16th December, that it is working together with the State Government and Western Power to install unground power to more than 10,000 properties by the end of 2028. The work is a part of the Network Renewal Undergrounding Program Pilot. As noted in a previous article on Hilton Property Prices, similar works have been thought to have a positive impact on property prices, almost certainly once the works are complete. Whilst it can be difficult to determine exactly how property prices are affected by infrastructural work there are a number of factors that have a positive impact. According to Western Power Some of these factors include: improved public safety fewer disruptions from storm damage a more aesthetically pleasing street scape reduced tree pruning, and therefore larger trees reduced maintenance and operating costs improved opportunities for emerging technologies On the City of Vincent website Mayor Emma Cole mentioned, “We are excited to bring underground power benefits to Vincent,” “This is the most affordable option for underground power that has been offered to the City and property owners. “Our dream of flourishing tree canopies is being brought to life thanks to this once-in-a-generation opportunity. “Through the ongoing underground power rollout throughout Vincent, streetlights will be replaced with bright energy-efficient LED lights so that our community can safely walk and exercise in their neighbourhoods in the evenings.” Four stages of underground power roll out. Following the signing of a Memorandum of Understanding with Western Power in May 2022 a commitment was made to commence work in areas where ageing power lines presented a greater risk. Phase 1 is targeting North Perth/Mount Lawley, North Perth/Mount Hawthorn and Perth/Highgate. A rolling fund has been established in the 2022-23 budget that contains a 7.3% rate rise to assist with current and future projects In July 2022 Western Power committed to five more underground power projects in Perth, Highgate, Mount Hawthorn, North Perth, Leederville and West Perth as part of the future NRUP. Primary equipment sites have been selected for the installation of electrical infrastructure including mounted transformers and other equipment for distributing electricity. Artwork and vegetation screening are being considered as options to reduce the visual impact of the primary equipment sites. Read more on the City of Vincent website.
Nov 4, 2022
Perth home values show resilience in October
Perth Property Market October Review CoreLogic’s Perth home value index decreased 0.2 per cent in October, the smallest decline out of all capital cities in Australia. REIWA CEO Cath Hart said the Perth property market continues to be resilient compared to other states and credits the strong Western Australian economy, resources sector and housing affordability. “It is pleasing to see Perth home values were relatively stable in October. To put things into perspective, Brisbane’s home value index declined 2.0 per cent and Sydney’s declined 1.3 per cent,” Ms Hart said. “The main drivers for this are the low level of stock and our affordability, with Perth median house prices the cheapest of any capital city - there is nothing in the Perth property market right now indicating that house prices will fall drastically any time soon.” The top performing suburbs for house price growth in October were Quinns Rocks (up 3.6 per cent to $570,000), Warnbro (up 2.5 per cent to $410,000), Hamilton Hill (up 2.2 per cent to $595,000), Currambine (up 1.9 per cent to $655,000) and Butler (up 1.9 per cent to $420,000). The other suburbs to record strong house price growth were Pearsall, Rockingham, South Perth, Stirling and Padbury. Listings for sale in October There were 8,169 properties for sale on reiwa.com at the end of October. This is almost identical to last month’s figure of 8,155 and is 5.9 per cent lower than levels seen a year ago. “We are still experiencing a housing and labour shortage concurrently, which is resulting in good outcomes for sellers but competitive conditions for those wanting to buy,” Ms Hart said. “With the population continuing to grow this is adding pressure on an already strained housing market, and it will remain this way until we have more housing stock. This demand for housing is expected to keep market conditions strong.” Time on market The median time to sell a house was 15 days during October. reiwa.com data revealed the fastest-selling suburbs in October were Camillo and Golden Bay (five days), followed by Safety Bay, Warnbro, Langford, Orelia, Carlisle, Huntingdale (six days) with Seville Grove and the only north of the river suburb Padbury recording a median of seven days to sell. “We are still seeing Perth houses being snapped up at a remarkable rate, with no indication of it slowing down despite interest rate rises,” Ms Hart said. “In a balanced market the median time to sell a home would be 30-40 days, so a median of 15 days really means prospective buyers should have all their ducks in a row to avoid missing out,” Ms Hart said. Perth rental market Median rent price Perth’s median rent price was $500 per week during October, which is $5 more than September. “Rents will continue to rise in Perth while there is a rental shortage. We urgently need more investors in the market to help provide housing and ensure we keep rents affordable,” Ms Hart said. Median leasing times in October It took a median of 15 days to lease a rental during October. Suburbs recording the fastest median leasing times were Hamilton Hill and Hammond Park (seven days), followed by Quinns Rocks (eight days), then Port Kennedy, Coolbellup, Carlisle, Aveley, Beckenham, Applecross (10 days) and Nollamara (11 days). Listings for rent There were 1,658 properties for rent on reiwa.com at the end of October, down 3.8 per cent from September, and 23 per cent lower than October 2021. “The rental shortage remains a critical issue for the WA rental market. We have been working with the Government to achieve a sensible outcome to the RTA Review that updates the legislation without scaring off existing owners and would-be investors, as this would add even more pressure to the WA rental market at the worst possible time,” Ms Hart said. “Whilst the rental shortage continues to produce significant challenges for many West Aussies, we must not forget how resilient our property market is. We have one of the strongest economies in the world, and the most affordable housing market in the country. These strong demand factors coupled with the low supply suggest that any large price falls predicted for the east coast will just not be the case for WA.” Realising the potential of your property For more information follow this link to the REIWA website
Oct 18, 2022
North Perth Real Estate Character Area Proposal
For homeowners in North Perth or those looking to buy and renovate a home it is worth considering some proposed guideline changes to a small number of houses on Orange Ave and Hope St. Firstly, just what is a Character Area? Not quite the same as heritage listing a Character Area is a group of houses in a street or suburb that is regarded as having a strong aesthetic value to the community. The homes in the area have their own planning controls or guidelines about development in the area, particularly parts of homes that are facing the street. Submissions for input and feedback into the proposed guidelines have just closed and are now being put before the Town of Vincent Council. What does this mean for homeowners of those looking to buy a home? It means that there may be certain restrictions in place for what developments will be approved with considerations to things such as the height of new developments and even materials used for new homes. Let's take a look at some of the proposed Character Area Guidelines. Primary Street Setbacks - Deemed to Comply Ground floor primary street setbacks to be an average of the two directly adjoining properties on either side of the proposed development. Walls on upper floors setback a minimum of 4 metres behind the ground floor predominant building line (excluding any porch or verandah), as determined by the City. Primary Street Setbacks - Local Housing Objectives The setbacks of dwellings should reflect the predominant streetscape pattern and be consistent with adjacent properties. First floor development is to be adequately setback to maintain the predominant single storey appearance of the streetscape. Primary Street Setbacks - Deemed to Comply Loft additions must be contained wholly within the roof space and shall not result in a visible change to the dwellings appearance from the street. Building Height - Local Housing Objectives The wall height of new dwellings, particularly, the portions in view from the street, should approximate the street’s typical wall height to avoid an under scaled squat appearance. Garages & Carports - Deemed to Comply Carports may be considered in front setback areas but only where no alternative location exists and a minimum setback of 1.5m from the primary street is maintained. Such carports shall not be fitted with any style of roller or tilt up panel door. Where carports are considered appropriate in front setback areas, carports shall be open in style and allow an unobstructed view of the dwelling from the street. Garages and carports must match the existing dwellings’ predominant colour, scale and materials and must be complementary and subservient to the dwelling. Carports and garages forward of the dwelling or within the front setback area shall have a maximum wall height of 2.7 metres. Carports and garages located within front setback areas shall have a maximum width of 5.5 metres (internal) or one-third the frontage of the lot, whichever is the lesser. Garages & Carports - Local Housing Objectives Carports and garages should be located so as to maintain the absence of car parking facilities within the streetscape. Car parking facilities located within front setback areas should ensure that the predominant character elements of the dwelling are visible and unobstructed. Car parking facilities that do not unduly impact the presentation of the dwelling to the streetscape. General Building Designs - Local Housing Objectives New development is sympathetic to and complements the character of the existing dwellings within the streetscape. New development shall ensure that unsympathetic contrasts in scale, mass and materials are avoided. Additions visible from the street shall be compatible with and respectful of the existing dwelling and the predominant character of the existing streetscape. The roof of new dwellings is to be consistent with the predominant roof form in the existing streetscape in terms of scale and pitch. Each street facing window should have a style that suits the predominant character of the street and architectural style of the proposed dwelling. General Building Designs - New Provisions to Meet Local Housing Objectives (New Proposal) The built form of any new dwellings shall complement the style, scale and form of the dwellings within the existing streetscape. The materials of any new dwellings as viewed from the street shall be consistent with the prevailing materials of the streetscape. Additions to an existing dwelling when viewed from the street shall complement the architectural style, form, colour and materials of the existing dwelling. In the case that the dwelling is not an original dwelling, additions shall complement the architectural style, form, colour and materials fo the prevailing streetscape. The floor levels of new dwellings shall match or mediate between the floor levels of dwellings on either side of the proposed dwelling. The roof pitch of new dwellings or upper storey additions is to be between 30 degrees and 40 degrees. Street facing windows include inner sections with a height of at least 1.6 times their width. Windows to the front facade of an upper storey addition shall reflect the shape and configuration of the original dwellings’ windows when viewed from the primary street.
Sep 20, 2022
North Perth Real Estate History – Beatty Park Turns 60
Home buyers in North Perth would likely be familiar with local leisure centre Beatty Park but how well do you know the history? Purpose built in 1962 for the Empire and Commonwealth Games. The pools were opened to the public just three days after the games and became a popular venue for families in North Perth and surrounding areas. Real estate not always the hottest property in the Town of Vincent Did you also know that Beatty Park was a concert venue for acts touring Perth in the 1960s and 70s? It hosted the Bee Gees, Deep Purple, The Jackson 5 and Santana with concert goers swimming in the pool to famous tunes such Smoke on the Water. Residents from all over Perth are invited to join in the celebrations with two events slated for the end of November. Sixties Sundowner – 25th November from 6pm. 18+ Come down for a blast from the past with The Santana Experience and The Hijacked Hollies playing some 60s classics. Come dressed in your grooviest clothes for a chance to win a years membership. Members can buy tickets now for $10 each and general sales start in October for $25. https://www.beattypark.com.au/about/sixty-years/sixties-sundowner.aspx Retro Family Fun Day – 26th November from 2pm. The kids won’t need to miss out on all of the fun with a Retro Family Fun Day organised the following day. Regular entry prices apply with fun for all ages including: Mermaids Gogo dancers Bubble artist Hula hooper Living statues Kombi photo booth Craft workshop & sensory space All the fun will go down with groovy 60s and 70s tunes playing in the background. https://www.beattypark.com.au/about/sixty-years/retro-family-fun-day.aspx
Apr 19, 2022
Four Steps to Finding the Right Property Manager
4 Steps to Finding the Right Property Manager A good property manager can make a huge difference to your property investment. Not only will an experienced property manager be in tune with your market to provide you with the best advice and results, but the day-to-day administration is also taken off your hands and out of your mind. Of course, everyone’s needs are different, and you may choose to have more involvement in your property than other investors, that is ok and you are allowed. Regardless of how much administration and management you want to delegate to a property manager, there are some key things you should consider to find the best solution for you. Keep reading to learn how to find the right property manager for you and your investment property. Check for attention to detail An experienced property manager will have strong attention to detail. With so many dates and deadlines involved in owning an investment property, you want someone who takes the time to look after everything from advertising your property and securing new tenants to routine inspections and compliance matters such as routine smoke alarm inspections. In addition to this, property managers deal with tenants every day, so they know the little things people are looking for in a rental property. Having an expert who can highlight these in their communications and at property inspections can make the difference between finding dream tenants in days, not weeks. Trust us, this is the outcome you want, Systems and processes Finding a property manager with all the right systems and processes in place will give you peace of mind. Similar to having strong attention to detail, the best property managers will have all of the systems and processes set up to ensure everything is done on time. Think things such as automated processes such as processing rental payments and producing rent receipts to reminders for routine inspections. Market knowledge and insight A key benefit of an experienced property manager is their market knowledge and insight. By working with someone who knows the area where your investment property is located, you can strike a balance between maximising your rental pricing and finding new tenants quickly when the need arises. Further, when it comes to renewing the lease with current tenants, your property manager will be able to confidently advise if a rent increase is appropriate and how much it should be. Support People need to take a break or a few days off if they’re unwell like any other job. It’s important to check what support your property manager will organise when they’re not available. Make sure they have systems and processes set up to continue looking after your place and tenants. There’s a lot to consider when you’re looking for a property manager. With the factors above in mind, the best thing you can do is begin searching (if you haven’t already received referrals from anyone in your network) and speak with potential property managers. Once you’ve spoken with a few different property managers, you’ll get a feel for who is the right fit for you. Talk to us today to find out if we are the right fit for you and your property needs. Find out more about what drives Mi Casa here. Remember, this article does not constitute financial or legal advice. Please consult your professional financial and legal advisors before making any decisions for yourself.
Mar 15, 2022
Mi Casa - Who we are | What we do | Why we care
Mi Casa Video: Who we are | What we do | Why we care We are excited to share this video with you, it shows the passion that we have here at Mi Casa. The passion for our business, the passion for what we do and the passion for being agents for change. We hope you enjoy it. Click our logo to watch. Transcription: As a parent, I wanted a company that allowed me to do the things that were most important and that mattered, like school drop-off or school pick-up. That didn’t mean that I was going to work any less hard In fact, I probably work more I love coming to work (Mi Casa ) every day for our team, our people. The passion, the drive they have to be able to deliver the best service to our clients is what’s really important to me. Being an owner of the company, it’s important that I trust the people that I have on my team. The traits that we are looking for are honesty, integrity, authenticity within our team members, and going above and beyond for our clients. They allow you to be a mum and still work, or they might allow you to bring your dog into work if that’s what makes you happy. Mi Casa Package – All in one What’s been really important to Mi Casa as well is making sure we have the right skill set to support each of the individuals, whether that be marketing, finance, sales, or property management. We have all those things packaged up to provide a really high level of service and knowledge to our clients. The Mi Casa Experience Some of us are a little more mature and then we’ve got the younger ones coming in and I think it’s nice sometimes, as we work in a team. I’ve been working with Tom, one of our newer guys lately. His energy is amazing, and I think that makes our buyers and sellers feel at ease because they’re getting the different pieces of everyone that comes together to make the whole rounded Mi Casa experience. Doing what we love and helping people I guess one of the things I love about working with Mi Casa is about not just the directors, but the people It’s like nothing I’ve ever experienced before. We help people every day of the week and we get to do what we love. Your family is our family I think it’s just us and our natural selves, the need to want to look after our clients as if they’re our own family. To look after them, do the very best that we can and get them the best results possible. We’re here to help them every step of the way and that isn’t just about getting the property sold or leased, it’s to hold their hand. We’re their soundboard, we are their everything throughout the whole process. Love what you do ‘Choose a job you love and you will never have to work a day in your life’ A lot of people go to work because they have to work. I personally come to work because I love my job and I think when you come at it from that angle, you are providing a different level of service. You’re doing it because you want to and you want to help people. Our charity – Look forward; give back - For each of us, our true purpose is to help others. Mi Casa really genuinely care about each other, about our clients, and most definitely about our charity. St. Pats. St. Pats community center is an incredible organisation that supports people who are homeless or at risk of being homeless. This year they had an amazing event in Fremantle town hall and we were able to be a part of that and brush up on our old waitressing skills. To us, it’s not just about giving money. It’s about giving time and effort and focus to those organisations in our community that need our support. For each of us, our true purpose is to help others. Everyone needs a home. Having our charity partnership with St. Pats is really important to us to allow us to help make a difference. That was a way for us to be what we truly believe are Agents for change. Want to chat with us more about what we do, then get in touch today.
Jan 13, 2022
Everything You Need To Know About Inspections
Routine inspections are an important part of keeping your property in good condition at all times. It’s an effective way for your property manager to check any maintenance requests in person and check that your tenant is looking after your property. While your tenant probably isn’t deliberately letting things slide, a routine inspection can help make sure the often-forgotten jobs are done. In this article, we outline everything you need to know about routine inspections. Timing The legislation on when routine inspections should occur differs from state to state. Generally, a routine inspection should be carried out every three months, and you’ll need to give your tenant at least seven days’ notice. The form you need to complete and send will differ based on your location. In WA re are required to give the tenants no less than 7 days and no more than 14 days notice. This year we have seen a high number of routine inspections rescheduled due to Covid lockdowns and tenants being in isolation, but our property managers try to reschedule them as soon as possible when access is agreed with the tenants. Maintenance and Small Repairs Most agencies have a process for reporting maintenance and repair needs if the tenant won’t be home when the routine inspection occurs. Common maintenance and repair requests may include leaking taps, exhaust fans seizing to work and repairing fixtures such as ceiling fans. Tenant-specific areas to check include general cleanliness, mould in wet areas, and the condition of lawns. If something needs to be addressed, we note it in the routine inspection report which the tenant receives a copy of, however if it is something major or the tenant disputes we can can issue a breach notice and give them 14 days to remedy. If the issues aren’t addressed in 14 days, your next steps will depend on your state's legislation. Bigger Repair Jobs At the routine inspection, you or your property manager should also check areas of the property that can point to longer-term and more expensive repairs if these aren’t resolved quickly. You should check: for water leaks in kitchens, laundries, and bathrooms exhaust fans are working and free of dust weatherboard, bricks and tiles for cracks and wear the whole property for dampness or wood rot for signs of termites or rust. Routine inspections can sound tedious, but your property manager is used to doing these at least once a week. By carrying out regular inspections at your property, you can ensure it’s always in top condition, and any repairs are completed quickly. You’ll enjoy the peace of mind that comes with having a property that’s always in good condition, so you can lease it quickly when it’s next available or sell it quickly when you’re ready to sell. Remember, this article does not constitute financial or legal advice. Please consult your professional financial and legal advisors before making any decisions for yourself.
Oct 18, 2021
Landlord Insurance Explained
There are many types of insurance policies you need to consider when you purchase an investment property. Landlord’s insurance is one of the most important policies. Your rental property is one of your most valuable assets and as such you need to ensure that it is protected. You need to have protection if tenants do any damage or leave without paying their rent amongst other scenarios. Landlords insurance can provide you cover for various issues including - loss of rent, theft, malicious damage, fire, flood storm damage and other natural disasters. IMPORTANT - Carefully read your insurers product disclosure statement to ensure exactly what you are covered for. Why Do I Need Landlord Insurance If My Tenant Pays A Bond? The bond is usually only a 4 weeks rent. This most likely won't cover much damage to the property. Standard home insurance normally will not cover rental related issues (eg: loss of rent or damage by tenant). If you are just relying on the bond and there is a shortfall - taking legal action to recover costs can be very expensive and you may end up with nothing except a lot of legal bills. Do I also Need Home Insurance? Not normally - if you’ve already taken out building and contents insurance as part of your landlord insurance, you will not need an additional home insurance policy. Although you won't be covered for building damage if you have only taken out tenant protection insurance. Be careful to read the product disclosure and define definitions. Landlord insurance basically addresses the gaps left by other insurance. Decide how much to insure the building for. When you’re insuring the building, it makes sense to insure it for its entire value, otherwise you would only get a partial payout if it is destroyed. This could end up costing you hundreds of thousands of dollars. How Much Does it Cost? This varies depending on where the property is located, if you use a property manager or manage the property yourself amongst other factors like how much rent charged, is it furnished and the size of the home. A quick phone call or website visit can give you a quick approximate quote. Read and re-read the exclusions in your policy (PDS). There are some situations where you won’t be covered.