The Perth Property Market – the Year that Was

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The shimmer and sparkle of the Perth property market may have well and truly dimmed since the heady days of the mining boom, however it’s not all bad news for those with west coast properties.

Clearly we are in a correction phase and market demographics are changing considerably as we all adjust, however where there is doom and gloom, many see the bright light of opportunity.

However, with population growth grinding back and unemployment rising there are always risks as an economy moves from one stage to another, says Abel McGrath principal and licensee Carmel Gardiner.

She says although the year has been tough in terms of the general economic conditions impacting the market, there are still plenty of opportunities for those who do their research and act accordingly.

“At Abel McGrath, we’ve adapted to the market by providing our clients with constant updates on where the market is sitting in relation to both sales and property management,” she says.

“We’ve had some great results and we are maintaining a positive but realistic attitude.”

Ms Gardiner says despite the persistent scare mongering, giving clients reliable, well researched information is key whether they are buying, selling or renting or if they are landlords or tenants.

“We make sure we are up to date with daily fluctuations in the market and we meet and speak with our clients regularly to make sure we are all working together towards the same result,” Ms Gardiner adds.

She says in tougher more challenging times, the ability to offer first class service is what will elevate a successful agent above the rest.

“At Abel McGrath, we’re committed to doing this and services like constant communication and engaging with clients, is vital.”

With a federal election looming in a matter of weeks, she says the team will watch with interest to assess the impact that the result might have on both the sales and rental market.

“In more uncertain times like these, people really value honesty in terms of the advice and the information that you give them.

“The family home or your investment property are usually the biggest investments people have and we do not take lightly or for granted their decision to entrust us to take care of that.”

As far as the crystal ball goes in terms of predicting whether the Perth market has hit the bottom yet, Ms Gardiner says it’s the question everyone wants to know the answer to.

“Prices are now very good value and regardless of whether prices move up or down in the coming months now is a very good time to buy or rent,” she adds.

In terms of summing up the year that was, she describes the year as a very productive one.

“We haven’t let the economic downturn in WA effect our business.

“We’ve made necessary changes to assist our clients and our staff and I think having a healthy attitude and outlook has really helped us, not only survive,  but thrive in these more challenging times,” Ms Gardiner says.

“I really don’t think there is a better time to invest in WA property than right now – interest rates are at historic lows and prices are very competitive in most WA markets, although I would like to see how the election plays out.

“Selling your home, buying a new one or engaging a property management company to look after you is a big decision – the most important advice I can give is to ensure you give your business to someone you trust.”

Carmel Gardiner

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All bases covered in the Wembley market

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Abel McGrath Property Consultant, Sam Bevan, and her colleague Investor Service Manager, Sandra Pereira, have come up with an innovative way to ensure their clients get the best possible service whether buying, selling or leasing.

Mrs Bevan and Ms Pereira have teamed up to offer double the service for their clients in the Wembley area, offering expertise on both sides of the property spectrum.

Both are keen to make sure the services they offer are a step ahead of their competitors and that the package they offer takes the pressure and onus off buyers once they have signed up to purchase.

Once Mrs Bevan lists a property, part of the listing process sees Ms Pereira step in to conduct a rental appraisal for prospective buyers and then offer her services should the property be bought as an investment.

“It just ensures that we are offering them optimal services and that all of their bases are covered from day one,” Mrs Bevan explains.

Mrs Bevan says when she recently sold a Wembley property to an investor, Ms Pereira was involved from day one providing a rental appraisal to prospective buyers and was able to step in and take over at the fall of the hammer.

“We have now leased the home for $1200 a week and it was a great way of working together to ensure our clients received the best possible result,” she says.

As a former property manager, she knows how important a strong leasing department is and how sellers and buyers quickly become landlords and tenants and vice versa.

“At Abel McGrath, every listing includes a rental appraisal, that’s just the Abel McGrath way,” Mrs Bevan explains.

“From the positive feedback we’ve had, it looks like there aren’t many selling agents out there who incorporate this into their service as a matter of course however that may change.”

Mrs Bevan says being involved in the community in which you sell is incredibly important in terms of building trust, developing local knowledge and getting to know the people in the area in which you work.

She says what sets her team apart, is bringing two extremely experienced female real estate professionals to the table, providing double the service to prospective buyers and sellers.

“Without question it’s about providing the best possible services.

“People will remember the level of service they received long after they’ve forgotten if they got half a percent discount off their selling fee.”

She says whether it’s engaging in a conjunctional sale to get a result or working with other agents in different ways, it should always be about getting the best possible outcome for the client rather than securing the highest agent commission.

Mrs Bevan says that although Wembley has also been affected by the down turn in the WA property market – a recent REIWA report suggested it has declined 9.1% in overall values in the last 12 months – she believes it will always be a solid performer and will return to positive growth.

“I am optimistic that what goes down must come up and Wembley will recover and continue to be a highly sought after location.”

She says, personally, she believes we will see another six months of sluggishness and then we’ll start to see some steady improvement.

“Some agents are predicting a crash and some say we’ve already turned the corner however, I believe if you can buy now, it is certainly a good time.”

If you would like to know more please do not hesitate to contact Sam Bevan or Sandra Pereira.

Sam Bevan