Many of you have heard of the saying “garbage in – garbage out” and it is certainly relevant to the property sector. PropertyESP recently undertook some analysis of the North Fremantle, North Coogee and South Fremantle apartment sales from 2010-2016. When we downloaded the data from Landgate you can imagine our surprise when 200 of the entries were coded with a land use of “other”. But unlike other companies that would have just removed this data from the dataset, we checked
Perth has long had a love affair with the Swan River and its wonderful beaches, and that is strongly reflected in property prices. And you don’t have to be an analyst to know that properties in riverside and beachside suburbs tend to dictate higher prices and those that command views, achieve even higher prices again. We’ve long thought of this as a view factor … and it’s true that a great view commands a premium price. However, recent analysis performed by PropertyESP has fo
Those of you who have been following the PropertyESP blog for a while know that we have an appetite for TODs (transit-oriented developments) because of their economic impact. So we decided to take a look at two TODs on the Mandurah train line, in Cockburn Central and in Wellard. Wellard is the site of Perth’s first Mandurah line TOD, but like nearby suburbs it started with a focus on houses. The Cockburn Central TOD however was established with apartments and home units in mi
I was interested to hear recently that Peet Ltd has decided to diversify its property holdings and move into the area of apartment living. What’s more, their apartments in WA are in traditional greenfields locations such as Wellard. The Invita apartments have now released three stages comprising of 36 apartments, 46 apartments and then 106 apartments. The first two stages went from two storey to three storey but were still very small complexes and sold out within 4-6 weeks of
I recently attended the Property Council WA Multi Unit Conference at Crown Casino. I attended because I was really interested in the conjecture that Perth was experiencing an oversupply of apartments. The PropertyESP team however had our doubts about this claim. The conference opened with a presentation from David Cresp, who has undertakenrecent analysis of the Perth apartment sector. I am pleased to say that his stats were very comforting indeed! David outlined a number o
A compatriot of ours, Y Research, recently presented a report to the Master Builders Association which demonstrates that the apartment vacancy rate across the study area was 3.8%, with some suburbs registering as low as 1%, while the REIWA's latest update in early February showed all homes across the metro had a vacancy of 4.2%. This combined with the take up rates, especially in East Perth, demonstrates that demand for apartments remains strong. For more details click here.
We are hearing all kinds of commentary about an oversupply of apartments within Perth CBD - but recent research conducted by PropertyESP indicates that if you build - they will buy. Looking at sales data across a variety of infill sites including East Perth, Rivervale, Victoria Park and North Perth from 1/10/12 - 1/10/14 we were able to determine that there there were 900 apartment sales in this period. This demonstrates a relatively strong market with in fact a large portion