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]