ALONG THE COAST
1 JANUARY - 31 MARCH 2023
Your Coastal Property Report
JASON JOWETT THE #1 MOST RECOMMENDED AGENT
Jason Jowett 0409 645 659
[email protected]
A message from Jason Jowett Perth Property Topping The League After consistently recording some of the weakest housing conditions in the country prior to the pandemic, Perth is now topping the league as the most resilient capital city to falling values. Tim Lawless from CoreLogic Australia said that, even though values are down 0.9% from a peak in July last year, the trend is best described as stable, with Perth home values actually 0.2% higher since April last year. The resilience to falls probably has something to do with the sheer affordability of Perth housing, where the median house value is on par with Darwin as the lowest of any capital city. Other factors keeping Perth’s values steady are a positive rate of interstate migration, extremely tight rental conditions, and a strong economy state-wide. Change In Dwelling Values
Rental rates and yields
Three months:
down 0.2%
Weekly Rent:
Twelve months:
up 2.4%
Units: $490
Average annual growth past decade: up 0.8%
Gross Rental Yield:
Houses: $550 Houses: 4.6%
Units: 6.2% Median Values
Selling Time and Discounting
Median dwelling value:
$561,740
Time On Market:
Median house value:
$587,274
Feb 22: 19
Median unit value:
$406,225
Vendor Discount:
Feb 23: 27 Feb 23: -3.3%
Feb 22: -3.0% Perth Rental Market The Perth rental market is facing significant stress as more investors exit the market, exacerbating an already tight housing situation. The number of rental properties in WA has fallen by nearly 5,000 over the past 12 months, according to Government Bonds data. This follows a recent report by the National Housing Finance and Investment Corporation (NHFIC) that revealed WA is experiencing the largest housing shortfall in the country, requiring 25,200 new properties from 2023 to 2027.
Jason Jowett | 0409 645 659 |
[email protected]
Coastal Statistics THIRD QUARTER AVERAGE SALE PRICES
78%
HOUSES
MARMION $1,293,125 $800,000 NORTH BEACH $1,733,333 $619,333 SORRENTO $1,528,000 $761,667 TRIGG $1,933,571 WATERMANS BAY $1,519,000 $1,300,000
of properties sold were HOUSES
HOUSE
UNIT
UNITS
LAND
55
91
SOLD
FOR SALE
HOUSE SALES
UNIT SALES
$4,000,000
$740,000 HIGHEST
LOWEST
$1,300,000 $410,000 HIGHEST
LOWEST
*SOURCED BY REIWA Information about this report: This report only shows 3 months of sold properties. The Median price is calculated over a 3 month period. This report is based on third party data which is provided by the agent/cy. Whilst care has been taken in the preparation of this report, neither the author nor the real estate agency takes any responsibility for any incorrect, misleading or inaccurate data. Houses displayed are only houses which have sold in the 3 months and been publicly listed. Properties listed are those sold by multiple agents/cies in the area.
Coastal Properties Sold 1st January - 31st March 2023 Marmion 11/14 Lennard Street 2
Marmion 5 Greig Court
2
2
$800,000 Marmion 40 McKirdy Way 4
2
2
4
2
Marmion 24 Syree Court 1
4
2
$1,035,000
$1,115,000
Marmion 37 Parnell Avenue
Marmion 68A Parnell Avenue
4
2
2
4
2
$1,150,000
$1,250,000
$1,260,000
Marmion 30 Rountree Way
Marmion 4 Sheppard Way
Marmion 13 Lennard Street
4
3
2
4
2
2
4
2
2
2
2
$1,395,000
$1,460,000
$1,680,000
North Beach 22/19 Sorrento Street
North Beach 17/19 Sorrento Street
North Beach 1/63 North Beach Road
2
1
1
3
1
1
2
2
$500,000
$608,000
$750,000
North Beach 26A Hale Street
North Beach 10 Gayton Place
North Beach 3 Castle Street
2
1
1
4
3
2
2
1
$910,000
$1,400,000
$1,525,000
North Beach 4 Kirkby Street
North Beach 12 Muller Street
North Beach 7 Forrest Street
3
2
4
$1,600,000 Sorrento 83/7 Harman Road 3
1
1
4
1
1
4
2
$2,265,000
$2,700,000
Sorrento 124A High Street
Sorrento 17A Frobisher Avenue
2
1
1
431m2
300m2
$410,000
$450,000
$737,000
Sorrento 94 Clontarf Street
Sorrento 113 Clontarf Street
Sorrento 87/160 West Coast Drive
3
1
2
3
1
1
3
3
$740,000
$790,000
$925,000
Sorrento 16 Dempster Place
Sorrento 23A/160 West Coast Dr
Sorrento 3 Drakes Walk
3
2
2
$950,000 Sorrento 79 Marine Terrace 4
3
2
2
$950,000
2
4
1
1
2
2
$1,000,000
Sorrento 4 Trevally Way 2
2
2
Sorrento 4 Bonito Way 2
4
$1,201,000
$1,205,000
$1,230,000
Sorrento 18 Viewcrest Way
Sorrento 23 Ashmore Way
Sorrento 40 Porteous Road
4
$1,375,000
3
2
4
$1,400,000
2
2
2
4
$1,500,000
2
2
Coastal Properties Sold 1st January - 31st March 2023 Sorrento 69 High Street 4
2
Sorrento 86 Seaward Loop 3
4
2
Sorrento 1 Glomar Rise 1
4
2
$1,520,000
$1,600,000
$1,730,000
Sorrento 7 Manakoora Rise
Sorrento 54 Seaward Loop
Sorrento 15 Hood Terrace
5
3
2
$1,850,000 Sorrento 25 Robin Avenue 6
4
3
2
$1,925,000
4
3
3
1
Trigg 7 Ozone Parade 1
4
2
$4,000,000
$1,430,000
$1,560,000
Trigg 17 Bailey Street
Trigg 45 Bailey Street
Trigg 10 Abney Place
4
2
2
3
2
2
4
4
$1,630,000
$1,830,000
$1,975,000
Trigg 16 Bailey Street
Watermans Bay 5 Mary Street
Watermans Bay 58B Beach Road
4
2
2
Watermans Bay 66A Beach Road 3
1017m
2
2
4
2
Watermans Bay 37 Margaret Street 2
3
2
$1,050,000
$1,075,000
$1,200,000
Watermans Bay 22B Beach Road
Watermans Bay 48A Beach Road
Watermans Bay 22 Margaret Street
4
2
$1,300,000
2
4
2
$830,000
Watermans Bay 53 Mary Street 2
4
535m2
$3,100,000
$2,410,000
2
$1,960,000
Trigg 21 Peet Crescent 5
4
2
2
2
$1,370,000
4
3
2
3
$2,900,000
Testimonial... 66A West Coast Drive, MARMION During the process of our sale we found Jason to be highly professional and respectful , responded to all queries immediately, worked hard to make the sale happen in our favour and was always flexible with our requests. He offered genuine and trustworthy advice which helped secure our sale. We would definitely recommend Jason as the Selling Agent to prospective sellers and would utilise his services in the future. It was a pleasure dealing with him and his team.
Current Listings For Sale 66B West Coast Drive Marmion
OFFERS
5 4 3 659 Commanding Coastal Luxury! This stunning 5 bedroom 4 bathroom two-storey residence defines modern quality from its exclusive West Coast Drive address whilst boasting spectacular ocean views from your front doorstep – and beyond.
6/23 North Beach Road North Beach
From $490,000
2 1 1 71 A Beach and Bathers Kind of Lifestyle! Nestled literally footsteps away from the glorious surf of North Beach lies this fantastic 2 bedroom 1 bathroom ground-floor apartment in the corner of the complex, suited to a range of potential buyers.
71A Flora Terrace Watermans Bay
OFFERS
685 Make Your Coastal Dreams Come True! Just one street back from the crystal-clear Indian Ocean waters lies this spacious 685sqm block that is the perfect “blank canvas” between the beach and bush – and is ready for your dream family home to be built on it right away.
15 Contacio Cove Trigg
OFFERS
4 2 3 Fantastic Opportunity! Unique 4 level, 4 bedroom 2 bathroom, 3 car garage home with 2 street frontages and stunning ocean views. Immaculately presented.
Testimonials About Jason... 68A Beach Road WATERMANS BAY Jason was polite, professional and communicated effectively with us when it came to selling our property. He was able to keep us in the loop when there were concerns or issues with buyers and tenants, and offered useful advice to work positively with both to get the best outcome for us, the seller. He knew how to price our property and we were offered close to this figure. We would recommend Jason as a real estate agent for anyone.
22A Rountree Way MARMION We had an elderly relative looking to sell her beloved home in Marmion. Jason was excellent from day one and showed patience and respect at a time that can be unsettling for the elderly. Jason understood the benefits and selling points of the property and quickly matched that to a target market. After one home open the property sold at the top end of our expectations. It’s easy to sell property in an overheated market but as things become more difficult in 2023, I highly recommend Jason.
89 Kitchener Street TRIGG A smooth, efficient and transparent process, executed by a knowledgeable, capable, personable, detailed and very easy to work with agent who exceeded our expectations.
3/14 Pearl Parade SCARBOROUGH A streamlined and easy sales experience. Jason’s knowledge of the west coast residential market was second to none, and proven through the expectations he met for the sale of my property. A professional upfront individual that kept me well informed. Thanks again for everything !
1st
MOST RECOMMENDED AGENT ALONG THE COAST
Jason Jowett - Property Partner Jason is still the #1 MOST RECOMMENDED real estate agent along the northern coastal strip of Perth, Western Australia (source: realestate.com.au). Respect, Honesty and Integrity, - with this mantra Jason is known as an exceptional selling agent, consistently delivering 5 Star client service. After 13 years in the Police Force and achieving a Bachelor of Science (Security & Computer Science) Jason decided to take up his REAL passion - real estate. With more than 15 years of experience in real estate sales Jason has gained boundless knowledge in the ‘art of negotiation’. Understanding the emotion and stress of selling, Jason is able to effectively communicate between both sellers and buyers ensuring a smooth and rewarding outcome. Jason has the ability to really connect with his clients. He works at understanding their aspirations and tailors his approach to ensure they feel comfortable throughout the sales process.
Jason Jowett 0409 645 659
[email protected]