Hot Topics – March 2016
We are very excited to be entering a phase of completion across a number of our projects over the next few months. Most developments we embark on take between 3 and 4 years from the identification of the site through to planning, construction, completion and handover. Considerable time and effort goes into each phase of the project and it is very rewarding to not only see a project reach completion, but to hear the fabulous feedback from the Buyers upon inspection.
The first project to reach completion in 2016 is Hive, located on Fitzgerald Street in North Perth and just a few hundred metres from the Angove Street precinct. The sales team are getting ready to open the last remaining apartments for sale and we are confident that the apartments will be very well received by the market.
Following Hive, we have Bloom, Whatley, The Fitz, St Peters and Dorrien all due to be completed before the end of the financial year. If you have been watching the progress across these exciting projects now might be a great time to chat to us about the pending completion and an opportunity to view the finished product before the displays are opened to the general public.
Whilst the market remains subdued and the number of listings has neither increased or reduced markedly over the past few weeks, we are definitely starting to see some Buyers turn into decision makers. Where Buyers were walking away from a negotiation with a Seller over $5,000 a month ago this is not the case now and properties are now selling.
The latest ABS figures released yesterday showed Perth’s population grew by 1.6% over the 2014 / 2015 period. This is just 0.1% behind Sydney and the same growth as Brisbane. Melbourne’s population growth was highest at 2.1%. This is good news
and shows that despite the slowdown in the mining boom construction, Perth continues to hold its own in attracting people to our shores.
Following on from last month’s article we are still yet to confirm whether the market has bottomed however we are confident that for those in a good financial position with a medium term plan, now is a great time to enter the market.
Whether you are just curious to inspect or have an interest in buying, please do not hesitate to contact me directly anytime on 0411 144 230 should you wish to have your own personal inspection of one of our projects nearing completion.