Rental Market Update – October 2017

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October saw an increase in the number of properties successfully leased by LJ Hooker Mandurah. In total we leased 37 properties across the month. The market continues to tighten in terms of the number of properties available to rent.

Today 2/11/17, there are only 482 properties available for rent in the 6210 postcode (source realestate.com.au), that is the lowest number of available rental properties over the last two years.

This is significant, as supply begins to tighten we should see prices begin to hold and the number of days that properties remain vacant should begin to drop.

As an investor now is the time to get your property on the market for rent. We still have a strong, healthy database of tenants looking for good quality properties.

If you’ve got a property to lease or are considering buying an investment property and need a professional, honest and knowledgeable team to advise you, and achieve the best results possible, contact me today.

Below you’ll see a full list of properties we leased throughout October with central Mandurah and Halls Head proving as popular as ever. For more information on the Mandurah rental market contact Mark Labrow 0431 025 449 (mlabrow.mandurah@ljhooker.com.au) or Jo Lockwood-Hall 0413 076 165 (jlockwoodhall.mandurah@ljhooker.com.au)

2/78       Gibson St                        Mandurah           $285 p/w
18           Kaalak Lane                    Mandurah           $295 p/w
14/106 Mandurah Tce                    Mandurah           $340 p/w
17/15    The Palladio                      Mandurah           $450 p/w
2             Kingdon St                      Mandurah            $260 p/w
12           Lanyon St                        Mandurah           $320 p/w
55/37    Dolphin Dr                         Mandurah           $400 p/w
16           Elizabeth St                     Mandurah           $200 p/w

9             Sandalwood Pde             Halls Head          $330 p/w
4a           Oversby St                      Halls Head          $350 p/w
38           Paradise Cir                    Halls Head          $325 p/w
3             Oversby St                      Halls Head          $525 p/w
29           Admiralty Cres,               Halls Head          $330 p/w
6a           Bucentaur Place,            Halls Head          $230 p/w

9/11       Leslie St                           Dudley Park        $230 p/w
5             Mast Close                     Dudley Park         $335 p/w
8             Allora Close                    Dudley Park         $290 p/w
15           Sharperton Mndr            Dudley Park         $320 p/w

7a           Roy Rd                           Coodanup            $290 p/w
11           Derek Road                    Coodanup            $200 p/w
17a         Veresdale Rt,                 Coodanup            $210 p/w

2/3         Olinda Ct                         Greenfields         $240 p/w
3             Berkeley Close,              Greenfields        $310 p/w
32           Redcliffe Rd                    Greenfields        $380 p/w

5             Sandals Way,                  Meadow Springs    $310 p/w
17           Camden Way,                 Meadow Springs    $335 p/w
10           Formby Rd,                     Meadow Springs    $300 p/w

38           Sabina Dr                        Madora Bay       $400 p/w
32a         Guillardon Tce                 Madora Bay       $200 p/w

16           Fremont Cl,                     Secret Harbour  $440 p/w
24           Geographe Bay Pass,     Secret Harbour  $310 p/w

21           Loretta Pkwy,                    Lakelands         $340 p/w
3             Lea Wynd,                         Lakelands        $370 p/w

18           Gamboge Ave,                  Karnup             $300 p/w
54           Ronsard Dr,                       San Remo       $380 p/w
97           Queen Pde,                       Wannanup       $400 p/w
28           Boorabbin Dr,                    Baldivis            $275 p/w

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Mandurah Property Market update from June Robertson – October 017

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In the last 4 weeks, we have experienced a wonderful increase in Buyer activity in the Mandurah market with 19 new sales being reported within the last 7 days alone.*

Interest in the beachside suburbs of Silver Sands, San Remo and Madora Bay always increases with the warmer weather and this year has been no exception with 5 of the sales in the last week taking place in Madora Bay, and one in Silver Sands. Buyers from Perth are seeing the great value that Mandurah offers.

There are currently 45 properties on the market in these three suburbs** and once a property is priced correctly, presented well and with a great marketing campaign, sales are sure to follow within a short time period. If you would like to have a no obligation chat regarding the above with some useful tips to get your property market ready, please give me a call on 0417 662 334. We would appreciate the opportunity.

June Robertsonjrobertson.mandurah@ljhooker.com.au

* Source: Reiwa Sales  Report
** Source: Realestate.com.au

Is your pool fit for use?

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With the footy finals out of the way, most states have bid farewell to the last notes of winter. It’s now time to start thinking about bringing back to life one of the best parts of the home – the swimming pool. 

Over winter, a number of issues will have arisen requiring your attention before you get to enjoy your pool. Left unused for several continuous months, it’s likely that your pool has built up dirt and bacteria which can result in illness and other physical ailments. If you’re a pool novice or would just like peace of mind, it’s a good idea to consult a qualified technician to get your pool in working order. But if you’re an experienced pool owner just after a ‘refresher’, here’s some tips to help you return to the pool faster. 

A thorough clean
Over the cooler months, pool covers attract leaves, dirt and other bacteria. Make sure you remove all the dirt from the cover via a long-handled broom or leaf blower. Be sure to drain any surplus water on the top of the pool cover, stopping any dirty water entering the actual pool. Whatever implements you use, be sure not to rip the pool cover. Once the pool cover is removed, let it dry thoroughly in warm sun before folding and storing.

 Check your water

Fill the pool approximately half way to the skimmer opening and  remove objects like leaves, weeds and small branches using your pool net. Once debris has been collected, clean the sides and bottom of the pool either manually or with an automated cleaner. This process needs to be done thoroughly as unremoved dirt can compromise the filtration system. 

At the conclusion of the cleaning process, fill the pool. 

Are your systems working?
Check everything in your filtration system from the cartridge – which may need replacing – to pipes that may be leaking. Before turning on, make sure all valves and rings are properly lubricated to avoid wear and corrosion. It may be worth consulting your local pool specialist to ensure everything is in working order. It’s considered best to run your pool while you’re at work and check its condition when you get home.

 What is the condition of your water?
After your system has run for 8-12 hours it’s time to check the pH levels of your pool. Source water from about two feet under the surface and place in the testing tube. Your pool kit should outlay the necessary measurements and figures for a healthy pool and how to correct imbalances. Again, if you aren’t confident in making your pool safe for swimming, contact your local pool professional who will assist.

Mandurah rental market – September 2017

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September was another great month for leasing results here at LJ Hooker Mandurah. We have again seen a high level of activity in the rental market with 30 properties LEASED in September 2017.

One interesting statistic for landlords and investors to note is that there has been a drop in the number of properties available for rent in Mandurah, with the number currently sitting at 499 in Mandurah (dated 11/10/17). 

If we compare this to the number of properties available a month ago, (13/10/17) we see a drop of 40 with the previous total being 539 properties available (source realestate.com.au 11/10/17). 

If you’ve got a property to lease or are exploring your options and need a professional, honest and knowledgeable team to advise you, and achieve the best results possible, contact me today. Mark Labrow 0431 025 449

Below you’ll see a full list of properties we leased throughout September, with central Mandurah and Halls Head proving as popular as ever. 

3/12     Day Road                    Mandurah                  $280 p/w
38/132 Mandurah Terrace      Mandurah                   $220 p/w
3/99     Ormsby Terrace         Mandurah                    $235 p/w
31        Wyeree Road             Mandurah                    $280 p/w
2/18     Cottage Street            Mandurah                    $230 p/w
8/15     Allnutt Street               Mandurah                    $250 p/w
20/45   Sholl Street                 Mandurah                    $215 p/w
4/9       Lanyon Street             Mandurah                    $200 p/w
6          Honeymyrtle Grange  Halls Head                   $350 p/w
16        Seaforth Drive             Halls Head                  $270 p/w
79        Glencoe Parade          Halls Head                  $330 p/w
13        Highview Rise             Halls Head                  $420 p/w
24        Encourage Loop          Dudley Park                $295 p/w
1/29     Boundary Road           Dudley Park                $275 p/w
1a        Brooking Road            Coodanup                   $340 p/w
17b      Veresdale Retreat       Coodanup                   $210 p/w
30        Illyarrie Avenue           Falcon                         $300 p/w
16b      Mathew Street             Falcon                         $400 p/w
11        Elegant Drive              Greenfields                 $265 p/w
6          Wattlebird Way           Greenfields                 $320 p/w
56        Waldron Boulevard     Greenfields                 $310 p/w                       
70        Perseus Street            Silver Sands               $210 p/w
3/14     Beam Road                 Silver Sands               $175 p/w
4          Formby Road              Meadow Springs         $310 p/w
2b        Medford Court             Meadow Springs         $230 p/w
32b      Guillardon Terrace      Madora Bay                $230 p/w
103      Dampier Drive             Golden Bay                 $360 p/w
26        Keystone Loop            Secret Harbour           $300 p/w
3/1       Starling Ramble          South Yunderup          $300 p/w
10        Balicup Parkway         Lakelands                   $340 p/w                         

   

 

One more time for the Old Mandurah Bridge.

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Whether you’ve fished from it, swam under it, boated past or jumped of (not that we’d advise that of course!) then like us you’ll be keen to say goodbye to the Old Mandurah bridge on Sunday as it’s finally closed in preparation for the new bridge opening.

Hundreds of people are expected to take the final walk across between 1pm and 4pm on Sunday 20th August. With roving entertainment, commemorative postcards and more it’s sure to be a fun event for all the family.

We hope to see you there!

 

 

Rent or Buy? The age-old debate.

Mark-Labrow-web

Mark Labrow
0431 025 449
mlabrow.mandurah@ljhooker.com.au
#therentalguy

With rent becoming more affordable (90.3% of Western Australians are paying less than 30 percent of total household income towards rent) and interest rates at a record low, the age-old debate surrounding rent or buy has reared its head again.

For many the amount of deposit required to secure a home loan is a huge stumbling block and is probably the biggest reason people continue to rent property instead of choosing to buy. However, the assertion that owning a property is better than rent needs a little bit of unpacking.

Below I outline some of the pro’s and con’s to renting to help decide which is the best option for you.

Pros:

hand_gesture_ok_fingers_7983_2048x2048Live where you want – One of the major benefits of renting is the ability to live where you want: In our current market, you can rent a canal home or beach front residence for potentially less than it would cost in loan repayments. If you’re renting, then you have the major benefit of being able to choose where you want to live and for how long (within reason).

Adjust your budget according to your needs – Repaying a mortgage is a huge commitment, over many, many years. Too be honest it’s probably one of the biggest financial strains on a household. Yes, over the years the amount you owe on your loan comes down but, initially, over the first 5 years or so it can be a bit of a struggle if you haven’t budgeted properly.

Choosing to rent means that you can adjust your budget accordingly (to a degree). Imagine the scenario where your financial circumstances are about to change and you’re coming to the end of your current lease agreement. If market conditions have changed then try to renegotiate the terms (and the price). If not find somewhere cheaper to match your new budget. As a renter, you can move down (or up) to a property that’s more suitable for you financially.

Got that long-awaited job promotion, why not upgrade to a better neighbourhood? Having more control over where you live and how much you pay is a real bonus of renting property.

Keep costs to a minimum – As a renter, on the whole, you skip a large amount of costs that homeowners are liable for. Each time you move it costs you a bond but hopefully, in most cases, you get your bond back from the previous property anyway. When you own, every time you move it costs you stamp duty, legal fees and agent selling costs. Plus, as an owner you pay rates (council and water) and you’re responsible for maintaining your home and fixing anything that might go wrong. Not so with renting, where, apart from rent and bills, you can keep costs to a minimum.

Cons

man-moving-boxesIt’s a temporary arrangement –  However long you rent for, the home you live in does not belong to you. While this may not bother some, the longer you live in a place the more you put down roots. It can be hard to leave a neighbourhood especially if you’ve made friends there. Your home is never yours so if the owner wants the house back or wants to move back in there’s nothing you can do (if the lease agreement has come to an end).

Making it feel like home – In my time renting one of the biggest barriers to making a house feel like a home is the ability to hang pictures. While there are some great wall-hanging systems out there there’s no guarantee that the paintwork or plaster will stay intact and undamaged. Also, repainting and the idea of personalisation (making a home yours) is more difficult than if you own the home. I know some landlords will allow you to redecorate but the hassle of putting things back to how they were, especially if your lease is only for 12 months, can sometimes be an expensive exercise.

Packing up! – The expense (and hassle) of moving is one of the major downsides of renting. Unless you find a property that is a long-term rental moving is a common occurrence for those who rent. Packing up everything you own and hiring a truck or calling in favours from friends is a headache.

“Yes, I love moving’ is not a phrase I’ve heard ever. Unless you’re moving somewhere better or cheaper packing always feels like a burden that can’t be avoided. If you hate moving ask your owner for a long-term lease and agree to yearly rent reviews, this might give you a bit more stability and allows you to see the house more as a home.

If you’ve got a property you’re thinking of renting, or one that’s been sitting on the market for a while without any interest call Mark – The Rental Guy Mandurah and see if he can help you get to ‘Leased’ quicker.

Google The Rental Guy Mandurah, search for him on Facebook or call 0431 025 449

#therentalguy

 

Winter Trends – Property Leasing Q2 report.

5455175-close-up-of-house-plan-with-red-leased-sign
So, Quarter 2 of 2017 is complete and we’re heading into the depths of Winter. It’s a good time to take stock of the rental market and to examine what the last 3 months has told us about where the market is heading and which suburbs are performing best.

Central Mandurah, with its blend of homes and units, continues to perform well in the rental market. The number of Central Mandurah homes leased in Q2 is slightly less than Q1. 147 homes leased in Q2 compared with 154 in Q1.
The median weekly rental price of a Unit has crept back a little, sitting at $260 per week with Houses just a touch above at $270.

5 Halls HeadHalls Head, is always popular and is a consistent performer in the rental market. The number of properties leased in Halls Head in Q2 has in fact increased by 15, bucking the trend. In total 118 properties leased in Q2 with the median price per week of a home in Halls Head staying the same as Q1 at $330 p/w. On average 39 properties a month lease in Halls Head.

One thing certainly worth noting in Q2 is the increase in number of homes leased in Dawesville. This suburb has enjoyed an increase of 12 more properties leased in Q2 than Q1.

This means on average 14 properties per month leased in this suburb (a total of 43 in this quarter). The median rental price has also increased in Dawesville from $320 to $330 p/w overall.

Unfortunately, in the Q2 stats Meadow Springs has experienced a bit of a drop off in activity. The number of leased properties in the suburb have dropped by 41% which is the most significant drop for any suburb in Mandurah this quarter. Over the last 3 months only 14 properties per month (on average) leased in Meadow Springs compared with 24 per month in Q1.

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LJ Hooker continue to work hard and achieve great results for our landlords. Over the last 12 months in Mandurah we’ve leased more properties than anyone else. Our team performs consistently and we’re proud of our record, the length of service and dedication shown by our Properties Managers.

If you want to speak to a knowledgeable professional that offers great service and results, call Mark on 0431 025 449 or Jo 0413 076 165 today.

Source: Reiwa 2017

Preparing your home for photographs

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The internet has completely changed the way that people shop for houses. However, one thing that hasn’t changed is how much people value the listing pictures when it comes time to decide on which homes they are going to visit and walk through.

One of the best investments you can make when listing your home for sale is high quality listing photos. Your home should be clean and tidy and you should prepare for the photoshoot the same way that you would an open house.

Here are a couple of tips to follow to make sure you – and your home – are ready for a close up!

If you want to be taken seriously – try not to list your home before the photos are ready

Most people who are shopping for a home in today’s market have signed up for text alerts and emails that let them know when a home that matches their criteria comes on the market. The first thing they are going to do is to pull out their phone or tablet and scroll the pictures of the property. If your listing doesn’t have photos – they will quickly check it off of the list of potential matches.

Declutter, clean and organize your home prior to the photoshoot

While the photoshoot will only be a camera person walking around your home taking photos, you should treat the session as though you are hosting an elegant dinner party with your favorite celebrity and clean accordingly. The photos will not be able to hide years of clutter and dust if you choose not to get your home prepared for having pictures taken. If you want your home to be able to compete – you need to make sure you are putting your best foot forward.

Photos must be professional and high-quality

Pictures that are poorly lit or blurry will not sell your home. In fact, they may even cause your home to be on the market for so long that you have to reduce your asking price to get any traction. When you have your listing photos taken make sure you work with someone who has experience taking real estate photos and knows how to set the right lighting to make your home look its absolute best.

The more photos you have … the better

When potential buyers get that text or email notification that a house with their exact specifications has come on the market, the first thing they want to see is an array of photos that show exactly what the house looks like – in every room. The more photos you can get and posted – the better of an impression your home will make on potential buyers.

Source: Laura Briggs.

How can I make my property appeal to more tenants?

When you’re thinking of investing in a rental property, or indeed renting out your home, it’s important to consider some fundamentals that will stand you in good stead, attract more tenants and keep maintenance to a minimum.

It’s hard to bullet proof your property but just a few simple considerations will make all the difference, both for you and your tenants.

Remember if tenants see chips in the paintwork or walls at the start of their tenancy they’ll be less likely to treat the property well from the start. Simply by touching up chips on the door frames and cleaning marks off the walls you’ll attract a much better quality of tenant.

Neutralise as much as possible. Paint is the landlords best friends, especially hard wearing or wipe clean varieties. A lick of paint can make all the difference to a property and can brighten up a place in no time. Just this simple adjustment to a property can get your placed leased faster.

Take a look at this example of a property I worked with recently. The owners took all feedback on board and transformed the place, making it inviting and welcoming as well as tenant proof.

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They replaced the old carpet with hard wearing, and easy to clean laminate plank and repainted the wall in pastel colours. They got rid of the old net curtains and painted the front of the house.

The result? It leased in just 7 days.

The short term expense of transforming your property once it’s vacant will pay dividends if you follow 3 simple principles

Neutralise – this is the number one tip for making your property lease quicker. A blue bath, heavily patterned tiles or bright paint on the walls is usually a no no.

Upgrade – Replacing old fixtures and fittings (lampshades, towel rails, shower heads etc.) is an easy and quick way to upgrade. Also replacing tired ovens and dishwashers will add to the appeal of the property and show tenants that you care. The simplest way to upgrade and smarten up a room is to take down old net curtains, or stained roman blinds. Go for easy care, neat window coverings every time, just don’t forget to clip the blind cords to the wall if they’re low hanging.

Give it street appeal – Many owners concentrate so much on the inside of the property they forget to focus on the front. Prospective tenants do judge a book by its cover so it makes sense to make sure that the cover looks great. Do the letterbox or fences need new paint or even replacing? Can you give the garden a quick fix make over to make it easy care? Remember it doesn’t have to cost a lot to look great!

If you’ve got a property you’re thinking of renting, or one that’s been sitting on the market for a while without any interest call Mark – The Rental Guy Mandurah and see if he can help you get to ‘Leased’ quicker.

Google The Rental Guy Mandurah, search for him on Facebook or call 0431 025 449 for a confidential discussion.

#therentalguy

 

 

 

 

Where have all the listings gone?

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The number of properties listed for sale has been extremely low over the past two years. This comes despite strong population growth and housing stock increasing by around 350,000 dwellings over the period. A lack of listings has been a major contributor to strong property price growth.

In 2016, the total number of properties listed for sale across the country was 8.9% lower than seen in 2015. This reduced the availability and choice for those looking to purchase a property. As such the number of sales transactions in 2016 was 9.2% lower than in 2015. Low listing volumes at a time when interest rates have driven buyer demand higher has fuelled price growth.

Download our free White paper for more information: http://mandurah.ljhooker.com.au/getmedia/be8cfdd1-de81-42cc-b300-23a3ffb2df97/LJ_Hooker_2017_listings_and_appraisal_survey_white_paper.aspx