Report from Buyer’s Agent, Buying Perth Real Estate, March 2020

“Perth property prices to rise by 6%”, say prominent forecasters.

Perth has been waiting to hear a positive forecast for Perth real estate since 2014!

According to Core Logic’s head of research, Tim Lawless, the 6% increase should follow the .4% increase experienced in December 2019.

Much of the increase will likely come NOW as a result of the Reserve Bank of Australia’s cutting the cash rate to a new record low of 0.5%.

Some major lenders are now offering rates to investors lower than those for owner-occupiers. This is rare.

We are advising buyers who missed out in 2019 to recheck their mortgage brokers as there are better finance deals around than there were in the latter part of 2019.

If you are considering investing in 2020, start the process now, with the present interest rates at the levels they are now, it’s clear that the finance lenders want your business.

From our observations, there is already a gradual surgent of interest in investing in Perth property.

As a Buyer Agent’s, Buying Perth Real Estate role is to seek out the best investment properties opportunities that the market offers.

In undertaking this, we stress to our clients that we always look for property that has the potential for long-term capital growth paired with an immediate rentability factor.

Sometimes it can take a fair bit of searching to find the home of your choice or the ideal investment opportunity, but that’s how we earn our keep.

We are often able to find properties that the average person hasn’t the time or perhaps the knowledge to locate. Armed with our experience, we’re able to give buyers the confidence to make a move into the market. As a result, our buyers are amazed at our results.

In addition to investors, first home buyers, home upgraders, home downsizers, Australians working overseas buyers are all benefiting from our services.

As a footnote, we strongly urge those who are interested in buying shortly to contact us. In the current market, the sooner you purchase more you will save. Prospective purchasers who snooze for much longer are highly likely to lose by having to pay more in a rising market than what they would have by acting promptly.

For a free consultation, contact me on 0412 926 190, or visit our website at buyingperthrealestate.com.

Clive Elliott, CEO, Buying Perth Real Estate Clive@buyingperthrealestate.com 

Buying Perth Real Estate for Wealth Part Three: Negotiating

In our first blog, we discussed the importance of property investment as an integral part of growing wealth. We also advocated appointing Buying Perth Real Estate as your Buyer’s Agent as a fast track to building a personal property portfolio – a portfolio comprising chosen properties with the most favourable terms and potential.

In our second blog on this topic, we covered was location and selection.

As an experienced Buyers Agents, we are continually reviewing all areas of the real estate market in Perth and regional areas for our clients. This knowledge puts us in the box seat to identify the best areas in Perth for buying property in the current market. 

Your first move when engaging our Real Estate Buyer’s Agent Services is perhaps the most important. It is the initial discussion we have with our clients to establish all of the details. We call this ‘The Brief’.

From there, our action is as follows

  1.  We discuss suitable properties, areas, location, and facilities most important to you, whether it is your home or for an investment.
  2.  We then produce a selection of properties that meet your criteria contained in The Brief.
  3. We receive summaries of the properties showing all the details for you. 
  4. We arrange for a private inspection of the properties on your shortlist.
  5. Once the inspection is complete, and you choose your ideal property, we move to the next step.
  6. Preparing the offer to purchase is crucial – we make sure it covers all of the conditions to protect you throughout the negotiating process from offer and acceptance through to settlement of the property.

Now we move onto negotiating.

Negotiating
Negotiation is an art in itself. So many buyers think that it’s a case of merely coming up with a number to see if the sellers will accept it. Invariably, they don’t, and it leads to disappointment and often the sense of loss. 

In the Perth real estate market – the current climate, in particular – there is often room for an experienced buyer’s agent to negotiate property at a much less a figure than the sellers are asking.

Preparing for the offer
We spend a considerable amount of time with the buyer before even selecting the chosen property. The buyers must have a good understanding of their financial arrangements and have prior finance approval if necessary so that their offer can be a desirable offer not only in terms of price but also the conditions and speed of settlement. 

The quicker the settlement, the more negotiation power we have in securing an attractive price on the property accepted. Even first home buyers in Perth can benefit from making these prior arrangements under our direction. Condition of the property needs to be taken into consideration when making an offer, and any minor or major repairs and maintenance need to be counted as an after cost for the buyer. 

The buyer at this stage must also understand the costs of settlement, including stamp duty, conveyancing costs, and adjustments of service costs for the property. All these are adjusted and paid at settlement.

It is essential to understand the seller’s motivation for selling the property and the plans the sellers have after selling – this often makes a significant difference in how the offer is structured and presented.

As experienced buyer’s agents in Perth, we are not only able to search out the best property available to fit the buyers brief, but also negotiate at the best possible price for the buyer.

In Part Four, we will consider the investor who wants to purchase, renovate and flip. We’ll look at some specific examples. Keep an eye out for this blog.

By reading the signs and using our experience, you can tell when the real estate downturn has ended, and when the upturn begins (or began)!

Don’t delay. Contact us for a free consultation. https://buyingperthrealestate.com/buyers-agent/

Why property is an essential way to build and hold wealth

Property investment is an integral part of growing Wealth, and there are many areas to explore before diving into or adding to your investment portfolio.

Appointing Buying Perth Real Estate as your Buyer’s Agent is a fast-track to building a Personal Property Portfolio – a portfolio comprising your chosen properties with the most favourable terms and potential. Perth property prices to go upMarket analysts have reported that Perth rentals and sales will represent the best property buying in Australia in 2020. (Core Logic, RP Data)

How a Buyer’s agent works here in Perth 
First, you engage us, selecting us to work for you. We discuss your medium and long-term goals in the purchase of the home of your choice; be it to live in, keep for investment or renovate and flip. 

It is here that the experience of a buyer’s agent in Perth can save you real time and money. 

As a buyer’s agent, we are looking at potential properties every day, continually reviewing investment opportunities for our clients. We have access to off-market properties because of our association with so many agents. Further, we’ve built up a multitude of relationships over the 45 years we’ve operated in the Perth Real estate market. We do all the property hunting and bring to you the prize properties that will fit your budget and criteria.

You may be considering doing all of this yourself. If you’re going solo, here are some of the areas that you will need to cover:
> What to buy
> Where to buy
> When to buy
> Talking to mortgage brokers
> Selecting a settlement agent
> Viewing a range of properties sometimes up to 50 to 60 or more 
> Writing the most effective special conditions on your contract  
> Getting inside knowledge to assist in your negotiation strategy
> Getting building inspections done                                                                                                                                               

These cover a number of the obvious things you must take into account.        As a result, many people delay and watch the market go down. They think it will go even further.                                                                                                                                         

By reading the signs and using our experience, you can tell when the downturn has ended, and when the upturn begins (or began)!

Don’t delay. Contact us for a free consultation. https://buyingperthrealestate.com/buyers-agent/

3,2,1 Blast Off 2020 For Perth !!

Perth Property Prices Goes Up!
Perth Property Prices.. 3 .. 2 .. 1 .. Ignition !! Up! Up! Away!

“Perth has been waiting since 2014 to hear this positive forecast for Perth real estate prices from prominent market forecasters. “

Perth property prices to rise by 6% says prominent forecaster

We don’t expect a Blast off  of rocket proportions but we do expect that we have turned the corner and  a selective property purchase and investment will be a wise choice if you’re looking to get in at the bottom of the market while there is still some good bargains available.” Contact us

House prices in all capital cities across Australia are expected to surge in 2020 – and according to some forecasters, 2020 is likely to be the beginning of a lengthy period of price rises.                                                                

While Sydney and Melbourne are expected to rebound by double-digit figures next year, it is interesting to note that Perth prices are expected to turn from the dour period it has had since 2014, to enjoy a 6% increase. According to CoreLogic’s head of research, Tim Lawless, the 6% increase following the 0.4% in 2019 will add $27,204 to the median value currently sitting at $453,393.

Much of the increase is expected to be driven by expectations of the Reserve Bank of Australia cutting the cash rate in the first half of 2020 to a new record low of 0.5%.

Mr Lawless is predicting that a reduction in standard variable mortgage rates, following the RBA’s adjustment to the cash rate, will result in investor landlords being able to service a loan with rental income and in some cases make a cash flow profit.‘As a result of this, investors are likely to be motivated by prospects for capital gain, as well as the fact that gross rental yields, although generally low, are likely to be higher than the cost of debt,’ Mr Lawless said.

From our observations there is already a gradual resurrection of interest in investing in property in Perth.

This has been fuelled by an increase in demand for rental property to the point that the Perth vacancy rate has been hovering around 2.5 – 2.3% for much of 2019 and as a consequence rental prices have increased in many of the tightly held suburbs.

As buying agents, Buying Perth Real Estate sees its role to seek out the best investment property opportunities that the market offers.

In undertaking this, we stress to our clients that we always look for property that has potential for long term capital growth as well as having an immediate ‘rentability’ factor.

Sometimes it can take a fair bit of searching to find the ideal investment opportunity – but that’s how we earn our keep – finding property that the average punter either hasn’t the time or possibly sufficient knowledge of the local market. In addition to investors, first home buyers, home upgraders, home down sizers, Australians working overseas and overseas buyers can all benefit from our services.As a footnote we strongly urge those who are interested in buying in the near future to contact us because the sooner you make your purchase, the more you will save.  

In other words, prospective purchasers who snooze for much longer are highly likely to lose by having to pay more in a rising market than what they would have by acting promptly.

“We don’t expect a Blast off  of rocket proportions but we do expect that we have turned the corner and  a selective property purchase and investment will be a wise choice if you’re looking to get in at the bottom of the market while there is still some good bargains available.”

For more information feel free to visit our website (Click Here) or contact me on 0412926190                                                                                                            

~ Clive Elliott, CEO at Buying Perth Real Estate

Information for Expat Property Buyers

Buying Perth Real Estate specialise in assisting Australian expats buyers buy their dream home or investment property in Perth whether you’re in London, Singapore, Dubai, Hong Kong, or  New York, be assured there’s property in Western Australia for you.

Many of our international or expat clients are unaware of the advantages of buying house in Western Australia while they are still overseas. This allows them to get ahead of property growth cycle and capitalise on our excellent investment opportunities even if they’re not yet on Australian soil.

Buying Perth Real Estate advocates are up-to-date with the latest research and the trends of our local market giving our overseas buyers in-depth localised information on choosing properties with the best features and capital gains potential. Were also able to give our overseas buyers access to both on and off market listings and provide them with information that not even local buyers have access to. We will be your eyes and ears on the ground searching for homes and properties in Perth and general areas throughout our State. Using our expert negotiation skills, we can also save you a packet when it comes to buying a house and securing it ahead of other buyers. We delight in helping you invest in property in Western Australia.

If you’re an international buyer looking specifically for investment property, we will advise you on the the most appropriate suburbs and the brief you on all aspects of properties research to ensure you make an informed decision. We are consistently researching local investments hotspots and can deliver a range of properties to suit your specific investment acquirements whether they be for capital growth or positive cash flow. We have contacts throughout Western Australia and have excellent links to opportunities in all other States of Australia that can assist in the search of quality investment property. We are flexible and able to meet your specific requirements. We will also assist with the coordination of all support services relating to a purchase. We will communicate with you at every stage of the process.

Investing in Perth real estate while living overseas is a difficult process as you need to keep up with the local trends, understand the local market, know how local agents operate and decide which properties that are currently on the market will meet your requirements.

The Perth market is made up of a number of submarkets that we protect foreign buyers from paying too much or buying the wrong type of property. Buying Perth real estate provides an independent advice and assistance to foreign investors and homebuyers with permanent resident status to navigate the property market.

Foreign investors (non-resident) must buy a brand-new property, or buy land and build, within two years. Buying Perth Real Estate property understands the local market and has access to the new and hidden listings that may be suitable to you. We can show you the suburbs that have the best lifestyle, schools, entertainment, sporting facilities, investment potential and other key features you desire.

We count it a privilege to assist international buyers purchasing property in Perth from their locations abroad. Purchasing property in the Perth real estate market has provided a substantial capital growth over the long term. We research extensively to source properties that meet your needs and lifestyle. Every international investment opportunity is assessed against dozens of factors including local market conditions, comparative sales and property and the property’s condition. We can also access many listings before they come on the market so you can reap the reward of the silent sale once you’ve decided upon a property we negotiate directly with the real estate agents or owner to secure the lowest possible price saving you time and money and stress

There are many conditions that must be adhered to when purchasing real estate in Australia. Buying Perth Real Estate will forward to you the lengthy requirements for foreign buyers (non-residents), by request.