The size of Perth is approximately 5 square kilometres. It has 11 parks covering nearly 11% of total area. The population of Perth in 2006 was 6,051 people. By 2011 the population was 9,243 showing a population growth of 52% in the area during that time. The predominant age group in Perth is 25-34 years. Households in Perth are primarily childless couples and are likely to be repaying between $1800 - $2400 per month on mortgage repayments. In general, people in Perth work in a Professional occupation. In 2006, 38.1% of the homes in Perth were owner-occupied compared with 36.8% in 2011. (source: Australian Bureau of Statistics)
Traditional agent commissions in Perth
To sell a property in Perth via a traditional agent you can expect to pay around 2.3 - 2.7% plus GST on average. Suburbs closer to the CBD have been shown to have a lower average for commissions, on occasion falling below the 2% figure. The more regionally located your property is, the more you can expect to pay on commission.
On top of a commission, if you sell with a traditional agent, you would also generally pay additional advertising fees which can increase your total cost significantly. For example, in a competitive suburb, the top upgrade available on realestate.com.au may be several thousand dollars. All up, your total cost is likely to be at least $14,000 if you decide to sell with a traditional agent as opposed to as low at $694 if you sell your home yourself with the help of PropertyNow.
The real estate market in Perth
The real estate market in Perth is looking alright for sellers at current but has seen some drops over the past 12 months.
Dwelling values in Perth, much like other capital cities, have fallen in 2018. As of June this year, in regards to dwelling values, we’ve seen an annual drop of 2.3% and a smaller drop of 0.8% over the past decade. The median dwelling price in Perth is sitting at $464,000, with median house values at $487,000 and median unit values at $400,000, which is lower than previous years.
It’s good news for lessors, with rental rates and yields for 2018 showing an increase; weekly rent has risen to $360 for houses and $340 for units. The gross rental yields are slowly climbing from previous years, up 3.5% for houses and 4.4% for units since July 2017.
The average number of days on the market for sale properties has also dropped over the last year, with the average as of June 2018 being 55 days as opposed to 2017’s higher 63 days.
Selling property in Perth without an agent
We've had a number of clients use our services in Perth specifically, and WA more generally. Given the market conditions in Perth now, by not paying an agent a hefty commission you give yourself more room to move on the sale price, putting you at a significant advantage. You can also know for sure that enquiries are being responded to as quickly as possible and are properly followed up instead of being in the dark as to what's going on. If you're not sure of how to price your property, we can even provide you with a detailed breakdown of sale statistics for Perth, as well as an estimated value of your own property.
Private sale and rental reviews in Perth
PropertyNow market properties and support owners to sell privately nationwide. We also maintain extended hours to account for the time difference between the eastern and western states.
Gael who sold her property in Chittering in 2018 with the help of PropertyNow wrote “Was the best way to sell. Very easy to make the add. Took 2 months to sell”
Malcolm who leased his Perth property privately in June 2018 thanks to PropertyNow writes “It was a really good experience and have recommended it to a friend to lease a property. Thanks”
*Authored July 2018. Please contact us if you require more recent information or advice about leasing or selling a property in Perth yourself.