Nedlands Market Update

by Morgan Sudlow In Uncategorized

18/07/2017 4:40:55 PM

Nedlands Property Report

 

The size of Nedlands is approximately 6 square kilometres. It has 6 parks covering nearly 9% of total area. The population of Nedlands in 2006 was 10,022 people. By 2011 the population was 10,170 showing a population growth of 1% in the area during that time. The predominant age group in Nedlands is 0-14 years. Households in Nedlands are primarily couples with children and are likely to be repaying between over $4000 per month on mortgage repayments. In general, people in Nedlands work in a Professional occupation. In 2006, 68.6% of the homes in Nedlands were owner-occupied compared with 68.4% in 2011. Currently the median sales price of houses in the area is $1,440,000.

With Recent information collected by CoreLogic RP Data, Nedlands, April this year the median sales price for a home in Nedlands was $1440,000, although down $60,000 from the same time last year, it is still up by $60,000 from April 2013.

With 139 properties sold in Nedlands in the past 12 months, the majority (97 properties) were sold between $1 and $2 Million dollars, with 23 properties sold for over $2 Million.

In the past 10 years Nedlands has seen the median house prices change as much as -19.23% in 2007 to +11.65% in 2013, and most recently in 2016 -0.66%.

 

 

 

Recent Median Sale Prices (Past 5 years)


Median Sales Price

Year 2013
Year 2014
Year 2015
Year 2016
Year 2017
Period
Median Price
Median Price
Median Price
Median Price
Median Price
January
$1,365,000
$1,500,000
$1,585,500
$1,515,000
$1,498,000
February
$1,355,000
$1,512,500
$1,575,000
$1,515,000
$1,448,500
March
$1,360,000
$1,510,000
$1,600,000
$1,500,000
$1,440,000
April
$1,380,000
$1,520,000
$1,575,000
$1,500,000
$1,440,000
May
$1,395,000
$1,540,000
$1,575,000
$1,520,000
n/a
June
$1,400,000
$1,550,000
$1,575,000
$1,500,000
n/a
July
$1,425,000
$1,577,250
$1,530,000
$1,500,000
n/a
August
$1,445,000
$1,577,250
$1,530,000
$1,500,000
n/a
September
$1,465,000
$1,580,250
$1,530,000
$1,500,000
n/a
October
$1,470,000
$1,600,000
$1,500,000
$1,500,000
n/a
November
$1,470,000
$1,592,750
$1,525,000
$1,495,500
n/a
December
$1,485,000
$1,600,000
$1,505,000
$1,495,000
n/a
Statistics are calculated over a rolling 12 month period


Recent Median Sale Prices (Past 12 Months)



Recent Median Sale Prices (House)

Nedlands
Period
Median Price
April 2017
$1,440,000
March 2017
$1,440,000
February 2017
$1,448,500
January 2017
$1,498,000
December 2016
$1,495,000
November 2016
$1,495,500
October 2016
$1,500,000
September 2016
$1,500,000
August 2016
$1,500,000
July 2016
$1,500,000
June 2016
$1,500,000
May 2016
$1,520,000
Statistics are calculated over a rolling 12 month period
Sales By Price (Past 12 Months)



Sales By Price - (House)

Nedlands
Price
Number
<$200K
1
$200K-$400K
0
$400K-$600K
2
$600K-$800K
6
$800K-$1M
10
$1M-$2M
97
>$2M
23
Statistics are calculated over a rolling 12 month period
Change in Median Price (Past 10 Years)



Change in Median Price (House)

Nedlands
Period
% Change
Dec 2016
-0.66%
Dec 2015
-5.94%
Dec 2014
7.74%
Dec 2013
11.65%
Dec 2012
-13.78%
Dec 2011
-4.78%
Dec 2010
5.19%
Dec 2009
-4.64%
Dec 2008
4.19%
Dec 2007
19.23%
(All information direct for CoreLogic RP Data)


If you or someone you know are thinking of selling a property in Nedlands, please
contact our office for further information or to speak to one of our professional, friendly and experienced sales team.

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Help Prevent Roof Leaks And Ceiling Damage At Your Property

by Morgan Sudlow In Renting, Uncategorized

10/05/2017 10:08:11 AM

The rains are fast approaching and traditionally May, June and July are our wettest months!

At Morgan Sudlow our property management team is constantly looking to prevent damage to our client’s properties by keeping a step ahead of the seasons. Regular cleaning extends gutter life, reduces the chances of roof leaks and prevents damage to the property and tenant valuables through water penetration.

Seasonal reminders to the owners of our properties for items such as gutter cleaning, reticulation maintenance and air conditioning servicing is just another way Morgan Sudlow protects our client’s investments.


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Movement On Waratah

by Morgan Sudlow In Uncategorized

4/04/2017 4:03:50 PM

The newly completed luxury apartment and commercial building “Dalkeith on Waratah” is now a hive of activity with new owners and tenants occupying the premises. These thirty one luxury apartments including nine exceptional third level penthouses are spacious and feature gallery-like mezzanine living areas.
Every apartment delivers beautifully proportioned living spaces, combined with a wide range of generous and practical floor plans, affording a unique sense of space and harmony.


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Dalkeith Market Update

by Morgan Sudlow In Uncategorized

4/04/2017 3:52:06 PM

The median house price in Dalkeith (based on settled sales @ 27th March 2017(REIWA)) is $2,350,000 with the Perth metro area median price being $526,000. The land price in Dalkeith is $1,650,000 with the Perth metro median price being $526,500.

The annual growth in Dalkeith has been 3.2% and 2.2% in the last quarter (REIWA).
As at 30 March 2017, there are currently 51 properties on the market in Dalkeith with listing prices ranging from $1,500,000 to $12,500,000 (Core Logic RP Data). There is a high demand for properties in Dalkeith with 553 visits per property per day, opposed to the average in WA being only 177 views (realestate.com.au).


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Starting a Lease

by Morgan Sudlow In Renting

18/05/2010 5:03:10 PM

When vacating, upon or beyond the expiry of the term of lease, you are required to give 21 days written notice of the date on which you intend to return possession of the premises. If you have a fixed term tenancy, which has not yet expired, breaking your lease can involve considerable expense – see our “Breaking your Lease” section. If your lease is due to expire and you do not wish to renew, we would appreciate 21 days written notice prior to the expiry of your lease so that we can commence advertising for the new tenants to minimise the vacancy period.

 

A letter will be sent to you confirming your date of vacation, together with a final checklist, setting out your obligations. We remind you that until you return the keys to the property, you’re obligation to pay rent as per the tenancy agreement will continue, so it is imperative that you return the keys on your vacate date or before. Failure to return the keys (including all copies you have made) will involve rent being charged up to the date they are returned, or the locks are changed (at your expense).

 

To make sure you receive the maximum bond refund, you should ensure that your rent is completely paid up to the date you hand your keys back and also ensure that the house is left in a clean and tidy condition. It is also a condition of your Lease that any carpets be professionally cleaned upon vacating and a receipt to this effect must be submitted to the Property Manager when the keys are returned.

 

All cleaning, repairs and reinstatement works must be completed prior to the nominated vacate date to a professional standard.

 

For general cleaning, professional carpet cleaning, general maintenance and lawns/garden works, we recommend the following contacts –

 

General Cleaning: Add Style Cleaning – 0439 949 879 or 0407 085 322
Carpet Cleaning: Expert Carpet Cleaning – 0418 957 690
Gardening: Daisy Cutter Duo – 0404 237 354
Lawn mowing: Selwyn’s Lawn & Garden Maintenance – 0409 100 303
Pool Cleaning: Pool & Spa Mart Nedlands – 9389 6131

 

Please make sure that you disconnect utilities upon vacating and have your mail redirected through Australia Post.

 

FINAL INSPECTION
Final inspections are conducted after the keys have been returned. The final inspection report is closely checked against the Property Condition Report completed at the commencement of the tenancy, to ensure that there has been no damage (beyond normal wear and tear) and that no fixtures have been removed (e.g. light fittings).

If the Final Inspection is not up to a satisfactory standard, the Property Manager will contact you.

 

BOND REFUND
Your Bond Disposal Form will be returned to you promptly after the property is fully vacated, less any deductions that may be agreed between both tenant and agent. A bond refund cannot be applied for until all keys have been returned to Morgan-Sudlow & Associates and the Final Inspection has been carried out. Bond monies cannot be released until all parties have signed the Bond Disposal Form and then it is the Bond Administrator that makes the required disbursements.


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Leasing & Maintenance

by Morgan Sudlow In Renting

18/05/2010 5:02:07 PM

The tenant acknowledges and agrees that should the tenant vacate the property prior to the Lease Expiry date, the following penalties/costs payable by the tenant shall apply:
• Rent and other costs, for example gas, electricity, water consumption etc plus all upkeep of the property e.g. lawn and garden maintenance etc are payable until the property is re-let or the lease term expires.
• Reimbursement to the Owner of the unexpired portion of the Leasing Fee charged to the owner at the commencement of the tenancy.
• Reimbursement to the Owner for the cost of the final bond inspection.
• Advertising costs – $100 of which is payable in advance.

Should the property not be re-let prior to the expiration of the tenancy, the tenant is responsible for:
• Rent and all outgoings on the property until the lease expiry date and all upkeep expenses prior to the expiry date.

If you are considering breaking your lease, it is recommended that you advise your Property Manager immediately.


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Watering Days

by Morgan Sudlow In Selling

18/05/2010 5:00:49 PM

Please ensure that your reticulation system is working on your designated days. To find out those days, go to the Water Corporation Website.

 

All sprinkler heads should cover all parts of your lawn. If there are dead patches that means the heads are not working and are possibly clogged up and need to be cleaned out, or they have been damaged by cars driving over them.

 

Please do not park cars on the verge or on the lawn.

 

Please take time to check all your sprinkler heads and replace them if they are faulty. The sprinkler heads are the tenant’s responsibility. If there is a problem with the reticulation system itself then you must report it to our office and we will arrange to have it seen to.


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Renting and Maintenance

by Morgan Sudlow In Renting

18/05/2010 4:59:53 PM

Should you have an EXTREME after hours emergency, please contact our duty mobile on 0419 047 423. Otherwise please report any maintenance in writing or facsimile 08 9386 0001.

 

If it is an appliance fault that you are reporting, please try to include the make and model number – in an effort to speed up the process.

 

Tradespeople will make contact with you direct to arrange a time and if firm arrangements regarding access for any tradespeople are not kept by you, the service charge for calling the tradesperson will be automatically passed on to you for payment. As such if the maintenance turns out to be a result of your actions, the fee will be passed onto you for payment – ie the toilet is blocked and it then turns out the blockage was due to your child flushing a toy down the toilet.

 

If you have a break in with resultant damage, you must report it to the police in the first instance, and obtain a Police Report Number.

 

If you lock yourself out of the property after hours, we are unfortunately unable to give you access at this time. You would need to call a locksmith at your own expense.

 

NEIGHBOURLY PROBLEMS
Problems with your neighbours are beyond our control. If you have a problem with one of your neighbours, just as you would if you owned the property, we recommend that you contact the necessary authorities – Local Council, Police etc


Tags: Maintenance

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Inspections

by Morgan Sudlow In Renting

18/05/2010 4:58:56 PM

DRIVE BY INSPECTIONS
Simple “drive by” inspections of our rental properties are a common occurrence. We ensure this exercise is conducted on a regular basis, in an effort to keep an eye on lawns and gardens in particular.

 

We also encourage our Perth based landlords to make regular drives past their property to ensure its satisfactory upkeep – so tenants beware and remember to keep up the good work, both inside and out!

 

ROUTINE INSPECTIONS
You will be advised by mail with 7-14 days notice of a routine property inspection being due. This will occur approximately six weeks after you move in and on a three monthly basis thereafter. You do not need to be home during inspections, but your co-operation is appreciated.

 

These inspections are a vital means of assuring the landlord that his/her property is being cared for and to also see what routine maintenance may be required.

 

You cannot refuse entry to a Property Manager or property owner if the correct notice has been given and the proposed time of entry is deemed to be reasonable. If you are unable to attend you can arrange for a friend or relative to be present; otherwise the Property Manager will enter the property using the office set of keys.

 

At a Routine Inspection, we expect the following …

Lawns must be mowed, edged, raked, well watered and gardens weeded.
Cobwebs to be removed from outside the property as well as inside.
Carpets to be vacuumed, floors mopped.
Exhaust fans/rangehoods and air cond. filters to be free of dust and grease.
Marks on walls and around light switches to be wiped clean.
Ovens, stove tops and grillers to be clean.
Shower recess and bathroom tiles to be free of grime.
Swimming pools to be clean and chemically balanced. Your Property Manager should be advised immediately of any motor or filter problems with the pool.
Driveways, verandahs and pathways to be swept.
All maintenance problems or damage must be reported immediately to your Property Manager.
Be sure to report problems with your reticulation (other than sprinkler heads, which is a tenant responsibility).
Windows to be cleaned.
If a dog is on the premises or if there is an alarm, please notify our Office.

Tags: Inspections

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Starting a Lease

by Morgan Sudlow In Renting

18/05/2010 4:57:27 PM

Your Lease Agreement is a very important document, so please be sure to read all sections and if you have any queries, please do not hesitate to ask your Property Manager. The Lease outlines your rights and also contains relevant information regarding your obligations. It is a legal and binding contract between us for the term of the lease, providing protection for both you and the Landlord. If you wish to renew the lease, for a further fixed term, please contact your Property Manager.

 

At the commencement of the Lease you will be given the keys to your new home.

 

ELECTRICITY, GAS AND TELEPHONE
You will need to make your own arrangements to have these services connected.

 

Synergy (Electricity) – 13 13 53 or www.synergyenergy.com.au
Alinta (Gas) – 13 13 58 or www.alinta.net.au
Telstra (Phones) – 13 22 00 or www.telstra.com

 

If the electricity is sub-metered, the power is continually connected and a Strata Company official will have to read the meter. Accounts will be sent from our office and we ask that you pay this direct to Morgan-Sudlow & Associates with your payment of rent. If you are on a benefit and are entitled to a rebate, please arrange this with the service provider, prior to paying the account.

 

Excess water consumption is also the responsibility of the tenant, however these accounts will come direct to Morgan-Sudlow & Associates. In turn, we will then invoice you and the monies are to be paid promptly along with your rent.

 

RENT
Rent payments are to be made directly into our Trust Account. Upon signing the Lease you will be given a tenant code and our account details. If you misplace these details, please contact our Property Manager on 9386 0004.

 

Rent is due and payable on or before the due date shown on your tenancy agreement. If payment is late, we will issue a Breach Notice warning that unless is it paid promptly, we will be obliged to instigate action to terminate the tenancy. Breach Notices are a required routine procedure, and are automatically noted against your tenancy file.

 

BOND
Your bond is like a deposit. It is held by the Bond Administration (division of the Department of Consumer and Employment Protection) and requires both Agent and Tenant signatures to both lodge and release. The bond is held to cover any damage to the property that may occur which is the tenant’s fault, beyond what would be reasonably classified as general wear and tear.

 

To recover all your bond monies at the end of the tenancy the property must be returned in the condition in which it was obtained. A Property Condition Report (PCR) will be given to the successful tenant within a month of moving in. The PCR is a detailed report on the condition of the property. It is important that you note any items of disrepair on this report, so it is not attributable to you at the end of your tenancy.

 

INSURANCE
The landlord’s insurance on the property does not cover your personal belongings. We strongly recommend that you take out Contents Insurance for your personal belongings.

 

WATER CONSUMPTION
As a condition of your Lease Agreement, you are liable to pay all excess water consumption charges. By entering into your Lease Agreement you have accepted the responsibility of maintaining the property and in turn, its lawns and gardens. Therefore, any consumption charges relating to watering will be your responsibility. If you allow the gardens to deteriorate there will be consequences and you will most certainly be responsible for their restoration.

 

CRITTERS
Perth sometimes experiences bad seasons for rats. If you are experiencing a problem, please contact your Local Council who will issue you with rat baits, which will help alleviate the problem. The control of vermin is the tenant’s responsibility.

The control of spiders and insects is also the responsibility of the tenant. Please keep the outside of your property free of cobwebs. By keeping the cobwebs down this will discourage spiders.

 

IMPORTANT
Clause 2.2 of your Agreement states –
The tenant agrees to keep all sanitary, electrical, gas and water apparatus including reticulation fittings, electrical and gas installations, extraction fans/grills and electrical fuses in good working order (fair wear and tear expected) and to test the Residual Current Devices on a regular basis.


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