Weekly National Market Update

Please see below the update from Ray White's CEO of Growth, Mark McLeod

As always, buyer sentiment is heavily influenced by the dual factors of local market conditions and the overall macro-economic environment. Global woes continued to dominate the media last week, as fears mount that Greece will leave the Eurozone and default on its debt.

An article in the Sydney Morning Herald said the Commonwealth Bank has been preparing for a possible Greek exit from the Eurozone for some time.  Chief Executive Ian Narey said the current volatility and strains on global money markets will be felt throughout the Australian economy, hurting confidence and pushing up bank funding costs. AAP reported that global equity markets plummeted during the week as the Australian dollar fell below parity, marking the first time the dollar has been below 100 US cents since December 2011.

Domestically, a Property Observer article said minutes released last week from the May 1 Reserve Bank (RBA) board meeting show that weak housing, construction and mortgage industries were the factors behind the recent decision to cut the official cash rate by .50%. According to the article, the minutes also show that the latest data indicates housing prices have continued to decline, albeit with tentative signs that the rate of decline may be slowing.  Further, a Herald Sun article interpreted the RBA’s minutes as saying the board slashed the official cash rate partly as a response to the higher home loan interest rates being charged by the commercial banks, as well as being influenced by “fragile” conditions in international economies.

Meanwhile a Sydney Morning Herald article quoted APM’s Dr Andrew Wilson as saying prices in Sydney’s prestige market are back to 2007 levels, with the wider Sydney market still below where it was a year ago. The article suggests the current over-supply issue has been worsened by a demographic “blimp” of baby-boomers wanting to downsize.

New Website for Canning Vale Area.

http://canningvaleliving.wordpress.com/

I have created a new website for both residents and local buyers wanting to know more about this lovely pocket of Perth.

Canning Vale Living is completely for this purpose. Understand what work is underway, what is currently happening and some reviews or feedback on local places that you may like.

I have only recently started this site so keep an eye out for more information. Buyers will be able to use this in future to research the lifestyle, schools, shops and transport this area offers.

I look forward to providing more information on both this site and the other one to give you a complete overview of this area that I am both lucky enough to live and work in.

Silent Homes For Sale

Looking to buy a home in Canning Vale, Southern River, Thornlie, Huntingdale, Harrisdale or Piara Waters?

As a local agent, we meet many sellers who are looking to move or relocate but don't want to place their home on the market as yet. This is where getting to know your local agent becomes an advantage. We currently have a few homes that can be sold but the owner is not quite ready for photos and home opens. Why not tell your agent exactly what you are looking for so we can keep an eye out for you.

I'm currently working with two unique and lovely homes in Canning Vale that are for sale but not online and have no signs.  This may be the perfect home for you. Don't be afraid to tell your agent your requirements and to keep an eye out for you. This may secure you a home without having to compete against other buyers and give the owner a chance to sell without the full marketing campaign. A potential win win for both you and the owner.

12 Ambleside Way, Canning Vale

http://www.domain.com.au/Property/For-Sale/House/WA/Canning-Vale/?adid=2009709543

PRIVATE VIEWINGS MY PLEASURE

Absolutely stunning property in Ranford Estate. This lovely double storey home is perfect for the busy couple or family wanting to make the most of the lifestyle this property offers. With all the creatures comforts, space and practical layout this home offers, you know you wont regret the decision.

Featuring all the bedrooms upstairs, the downstairs remains separate for entertaining family and friends. Cook up a massive feast in your downstairs kitchen or entertain on your alfresco overlooking rear pool. More features of this stunning home include
5 bedrooms
2 bathroom ( bath tub to main and spa to ensuite )
Upstairs balcony overlooking front of property
Theatre room
Activity area or study
Massive kitchen with island bench and quality finish
Below ground pool
Rear alfresco with wood decking
Double garage
Air conditioning
Upstairs activity area/bar for the grown ups
Porcelain tiled living areas

For further information or to book your private viewing, please phone Robin Ram 0401 888 444

First home buyers, remember the extra $2000

Are you a first home buyer looking to buy your first home below $400,000?

Not only do get the $7000 Grant, the state Government in WA is putting up to $2000 towards fees and extra costs incurred by buying. These may include settlement fees, bank fees, termite or building reports etc

Some things to remember when thinking about claiming this
- You need to buy an established home or party built
- No vacant blocks, house and land packages or off the plan
- You must buy from a Real Estate Agent
- Cannot of owned property before in WA or be in a relationship with someone who has
- Need to live in the property for 12 months
- Application must be lodged within 90 days of acceptance of offer.
- Need to use an authorised lending institution


For more information on this Government Assistance, please phone Dept of Commerce on
1300 30 40 54

Meeting with Mark from Domain

Grateful for the opportunity to sit with Mark Ehlers from Domain.com.au today. This major website is providing innovation, new technology and great service to the market place. Being an even larger power in the Eastern States, we receive regular phone calls and emails for buyers looking for Canning Vale properties.
View all our properties online at http://www.domain.com.au/
Thanks Mark.

Lovely home on TRIPLEX block! WOW! - 4 Currawong Way, Thornlie

4 Currawong Way, Thornlie

http://rwht.com.au/wa/thornlie/785289/

Call or Email Agent for Price Guide. More photos coming soon. You will kick yourself if you miss this one! Investors and First Home Buyers don't miss this 3 bedroom 1 bathroom on a Triplex Block Zoned R20/40 with 24.14 frontage. Positioned in a great location across from the park and walking distance to Spencer Village Shopping Centre and having the connivance with Public Transport just minutes away. Spacious Kitchen with plenty of room to move and cupboard space, separate dining area and sunken Lounge with split system air conditioning. Out doors entertain in one of 2 areas and let the kids enjoy the large back yard with plenty of room to run around and kick the footy. Extra Features: Security Shutters to Front Access to rear though Garage Built in wardrobes 708sqm block Call Robin Ram today to arrange a viewing

Value Value Value - 4 Triefus Lane, Canning Vale

4 Triefus Lane, Canning Vale

http://rwht.com.au/wa/canning-vale/784266/

Email or Call Agent for Price Guide Great opportunity for the astute buyer ready to make a decision on an affordable and well located home in Canning Vale. Situated close to parks, schools and shops, this lovely property will appeal to both investors making the most of the tenanted property or home buyer looking to move into this popular and in demand suburb. With its 4 bedrooms, 2 bathrooms, impressive kitchen and location, this property will be a great addition to your portfolio or a lovely family home. More features include: 4 bedrooms 2 bathrooms Open plan and spacious kitchen with island bench Tiled living area Duct evap air con Great location Property currently rented at $400pw until December 2012 Council rates last financial year of approx $1400 510sqm block Private viewings only by appointment - NO HOME OPENS

Weekend Home Opens

Great numbers out again this weekend with the most popular home recieving 15 enquiries. Numbers at my home open ranged from 1 to 9 with 3 offers recieved so far. There are more genuine buyers looking and making decisions a bit faster now some confidence has returned. Want to receive our next home open list before the weekend? Email me at robin.ram@raywhite.com
Most of our home opens are in the following suburbs
Canning Vale
Southern River
Harrisdale
Piara Waters
Thornlie
Huntingdale
Gosnells

We do sell in all areas so if you are looking at selling and would like to speak with me about your options, please call me direct on 0401 888 444 or email for a prompt response.

Update on the market

Below is the weekly update from Ray White's CEO of Growth, Mark McLeod

As always, buyer sentiment is influenced by the combination of local area market conditions and the overall macro-economic environment. Although a cut in the official interest rate was widely expected last week, the announcement of a 50 basis points reduction to 3.75% came as a surprise to many. The decision represents the first outsized cut since the height of the Global Financial Crisis in 2008.

Prior to the news, an article in the Daily Telegraph said major industry groups were pleading for a cut after new home figures showed sales have collapsed to their lowest levels in more than a decade. After the announcement, RBA Governor Glenn Stevens said a lower inflation rate provided the scope for the RBA to cut interest rates to help stimulate the economy. But a News.com.au article said most economists believed the banks would not pass on the cut in full, despite the Herald suggesting the major four banks are expected to report a combined first-half profit of $12billion by the end of the next week.

National Australia Bank was the first of the major lenders to make a move, dropping their variable rate by .32%. Commonwealth was next, upping the ante to pass on .40%, but still holding back 10 points from the RBA cut. By the end of the week, Westpac had announced at .37% cut and ANZ was holding steadfastly to its out-of-cycle review schedule, with their next rates decision not due until the second Friday of the month.

Meanwhile globally, a Herald article reported that the earnings season in the US has featured regular negative commentary about Australia’s “weak” economy. Chief executives from major companies including Kellogs and McDonalds singled out the Australian market as being “difficult” and experiencing ongoing tightening. Locally, a separate Herald article said business insolvencies have reached an all-time high since insolvency statistics were introduced in 1999.

Statement by Glenn Stevens, Govenor : Monetary Policy Decision

At its meeting today, the Board decided to lower the cash rate by 50 basis points to 3.75 per cent, effective 2 May 2012. This decision is based on information received over the past few months that suggests that economic conditions have been somewhat weaker than expected, while inflation has moderated.
Growth in the world economy slowed in the second half of 2011, and is likely to continue at a below-trend pace this year. A deep downturn is not occurring at this stage, however, and in fact some forecasters have recently revised upwards their global growth outlook. Growth in China has moderated, as was intended, and is likely to remain at a more measured and sustainable pace in the future. Conditions in other parts of Asia softened in 2011, partly due to natural disasters, but have recently shown some tentative signs of improving. Among the major countries, conditions in Europe remain very difficult, while the United States continues to grow at a moderate pace. Commodity prices have been little changed, at levels below recent peaks but which are nonetheless still quite high. Australia's terms of trade similarly peaked about six months ago, though they too remain high.
Financial market sentiment has generally improved this year, and capital markets are supplying funding to corporations and well-rated banks. At the margin, wholesale funding costs have declined over recent months, though they remain higher, relative to benchmark rates, than in mid 2011. Market sentiment remains skittish, however, and the tasks of putting European banks and sovereigns onto a sound footing for the longer term, and of improving Europe's growth prospects, remain large. Hence Europe will remain a potential source of adverse shocks for some time yet.
In Australia, output growth was somewhat below trend over the past year, notwithstanding that growth in domestic demand ran at its fastest pace for four years. Output growth was affected in part by temporary factors, but also by the persistently high exchange rate. Considerable structural change is also occurring in the economy. Labour market conditions softened during 2011, though the rate of unemployment has so far remained little changed at a low level.
Recent data for inflation show that after a pick up in the first half of last year, underlying inflation has declined again, and was a little over 2 per cent over the latest four quarters. CPI inflation has also declined, from about 3½ per cent to a little over 1½ per cent at the latest reading, as the weather-driven rises in food prices in the first half of last year have, as expected, now been fully reversed. Over the coming one to two years, and abstracting from the effects of the carbon price, inflation will probably be lower than earlier expected, but still in the 2–3 per cent range.
As a result of changes to monetary policy late last year, interest rates for borrowers have been close to their medium-term averages over recent months, albeit tending to increase a little as lenders passed on the higher costs of funding their books. Credit growth remains modest overall. Housing prices have shown some signs of stabilising recently, after having declined for most of 2011, but generally the housing market remains subdued. The exchange rate remains high even though the terms of trade have declined somewhat.
Since it last changed the cash rate in December, the Board has maintained the view that the setting of policy was appropriate for the time being, but that the inflation outlook would provide scope for easier monetary policy, if needed, to support demand. The accretion of evidence over recent months suggests that it is now appropriate for a further step in that direction.
In considering the appropriate size of adjustment to the cash rate at today's meeting, the Board judged it desirable that financial conditions now be easier than those which had prevailed in December. A reduction of 50 basis points in the cash rate was, in this instance, therefore judged to be necessary in order to deliver the appropriate level of borrowing rates.

Ray White's CEO of Growth Market Update

Please see below and update on the Australian Market from Ray White's CEO of Growth, Mark Mcleod

Consumer sentiment continues to be heavily influenced by both the macro-economic environment and local area market conditions. An official rate cut became virtually a certainty when lower than expected inflation figures were released last week. The Australian Bureau of Statistics reported inflation was just 0.1% for the first three months of this year, following no change in the December quarter and taking annual core inflation to just over 2%.

A news.com.au article said the inflation result caused a fall in the Australian dollar which may help local industries competing in international markets. In a bonus for property owners, the low result increased the likelihood that the Reserve Bank would cut rates by at least .25% on Tuesday. A Sydney Morning Herald article said the result now means Australians can expect a series of rate cuts. Stephen Koukoulas, as economic consultant who until recently was an advisor to the Prime Minister said the RBA got it wrong by underestimating how weak retailing and construction really were and should have cut rates in February and April.

Unfortunately, there is no guarantee the banks will pass on all or any of any official cut. News Corporation reported Westpac boss Gail Kelly has refused to speculate on whether the lender would pass on any cut, echoing other bank executives in saying wholesale funding costs are now higher than they were throughout the global financial crisis. However, the associated article said the major four banks source only around 20% of their total funding from off-shore markets, down from 40% three years ago.

In the property market, a Herald article said sellers and agents are hopeful that talk of an interest rate cut will bring out more buyers after a patchy few months with fewer transactions. Australian Property Monitors said they expect final sales figures to show a drop of 8% for the first quarter compared to the same period last year.

The latest finalised auction results showed a slight rise in the overall clearance rate, with Sydney at 54%, Melbourne at 58%, Brisbane at 30% and Adelaide at 39%. Volumes in other capital cities were too low to yield meaningful volumes.

Open for Inspections on the 29th April 12

Curious as to what to expect at home opens? This weekend was great with increasing buyer presence at our many home opens. The busiest property received 18 groups through the home within 30 minutes. My home opens in Southern River and Canning Vale received the following numbers
Canning Vale - 10 groups
Southern River - 9 groups
Canning Vale - 10 groups
Southern River - 4 groups

Plenty of active buyers looking to buy homes and with news of rate decreases, fingers crossed it keeps going :)

Housing Construction expected to surge!

In an article online today, it was reported that on the back of increasing population and increasing demand for rental property, construction would increase around 11% since last financial year. Around Harrisdale, Piara Waters and Southern River we are seeing big demand for vacant blocks with the only complaint being the some of the sizes of some of the blocks.

New Property Team Viewing

Great opportunity every Wednesday morning for the sales team here at Ray White House Team viewing some of our new properties coming to market.
This morning on the list

- 39 Southacre Drive Canning Vale
- 11 Bluegum Road, Thornlie
- 85 Sandringham Prom, Canning Vale

With only 3 to view this morning inspections were done with quickly. The sales team have now walked through these homes are are now able to quote, refer or recommend these homes to buyers we are working with or buyers we meet in the course of our normal week. We often sell homes where one agent from the office has a buyer for a property another agent from the office has taken to market. We are also able to refer to more properties when we meet buyers on the weekend at home opens who may describe a house that we have for sale in a different suburb or location in the same general area. This is often the case around Canning Vale with the large number/selection of homes for sale.

It's Trendy, Modern and ready for You

11 Leschenault Blvd, Munster

http://rwht.com.au/wa/munster/771953/

Looking for a change of lifestyle? Want a trendy low maintenance home set across a parkland and close to schools and shop? Call now and book your viewing on this lovely 4 bedroom 2 bathroom home.

Built by Chestingon homes, this 2008 home has been well looked after and loved by the current owners. Excellent location and practical layout home.

Features include :
*Master bedroom located upstairs with access to balcony, recessed roof, split system air con, walk in robe and an ensuite with double basin, spa, double shower and tiled to ceiling.
*Double door entry to home with wood floors through to living.
*Down stairs study, formal lounge, theatre or gym.
*Upstairs second living area or home office
*Bedroom 2 with mirror robe
*Bed 3 good size with mirror robe
*Bed 4 with double mirror robe
*Down stairs bathroom with double basin
*Powder room/separate toilet.
*Stunning kitchen with Granite bench tops and double pantry
*Electric log fire heater as a stunning heater and feature
*Split system air conditioning
*High ceilings in living area
*Large double garage from...show more rear with extra ceiling storage
*Rear alfresco area with easy care rear yard

For an inspection on this lovely home, please contact agent Robin Ram on 0401 888 444

Hot Hot Hot

206 Harpenden Street, Southern River

http://rwht.com.au/wa/southern-river/771851/

With all the creature comforts, little extras and novelty features, this home is built to impress and house you in style, security and comfort.

Located on a corner position, access to rear for boats, caravans or trailers are much easier. No neighbours to one side giving you some freedom to entertain friends and family without too much bother on noise. Built to be grand from the entrance in, your inspection of this home is sure to satisfy.

Features include
*Master bedroom with feature lighting, wall mounted heater, roller shutter and ensuite with double basin and large shower.
*Theatre room with remote control blinds and projector screen. Behind the project screen in a flat screen TV should you want TV instead of the whole theatre experience. Decor of this room is perfect for movie fans with feature wallpaper and even an EXIT sign on the way out
*Massive ceiling on entrance with recessed colour lighting changing colour automatically.
* Ducted Vacuum system
* Tiled living areas
* Awesome and spacious kitchen giving plenty of room to move and create. Dishwasher, tiled floor and even light features at the bottom of cupboards for extra effect.
* High ceiling in living area
* Split system air con in Living area and theatre room
* Ducted air conditioning throughout home
* Wall mounted heaters in all bedrooms
* Large bedrooms
* Intercom system for all bedrooms and front door
* Security camera should you wish to see who is at your front door
* Wall mounted dryer in Laundry perfect for winter time
* Heated towel rails to main bathroom
* Reticulated gardens
* Shed/workshop with power
* Double garage with rear access
* Rear alfresco with high ceiling
* 1500L water tank
* Smart Wired house and Internet in each room

Hole in One

85 Sandringham Prom, Canning Vale

http://rwht.com.au/wa/canning-vale/772398/

Attention all golf lovers and families looking to get into Brookland Greens Estate and secure a lovely home as well.

This stunning home is well located and provides easy access ( a short walk ) from Gosnells Golf Club, bus routes, local shops and the beautiful lakes featured in this estate. This home has a lovely warm feel and was built and lived in with love.

Features include:
*Master bedroom with split system air con
*Ensuite with extra larger shower
*Double door entry with tiled flooring
*Sunken formal lounge room
*Large double garage with extra height and shoppers entry.
*Open kitchen area overlooking sunken Family room and meals area. Great for the family that like to be together.
*Alfresco area with fridge recess for unwinding with a few drinks at the end of the week
*Lovely gardens to rear for a nice outlook
*Good size bedrooms all with robes
*Extra storage room created in the ceiling
*614sqm block
*2000 built Ventura home. Well designed.

For further information or an inspection on this property, please contact Agent Robin Ram on
0401 888 444 or email robin.ram@raywhite.com

Vacant Homes are a great opportunity

Sometime amazes me that a vacant homes with no furniture or decorations take so long to sell. I would think that seeing an empty "shell" of a property would be positive and provide people the space required to mentally place their belongings and get a feel for the home. Often though, with little or no "feel" to these homes, they just stay on the market and sometimes end up selling for much less than comparable properties presented with someone living in the property.  This leads us to the question that can we justify spending considerable sums of money on "staging" a home with rental furniture? This is a growing trend and companies are emerging offering low cost furniture to decorate a home for a month or more if required.
If you are looking to achieve top dollar, presentation is vital and if your home is vacant, it may well be worth the investment. Staging of homes has been popular for a while in the upper end market but is not becoming more normal in more affordable price ranges. When looking at selling a vacant home, make sure you have the discussion with your agent. Looking for a good deal on a home? Why not check out a few vacant homes in your area and compare prices to ones fully furnished. You may be able to pick up a good deal.

Whats Happening in the City of Gosnells this month?

Please see below information from City of Gosnells Website on upcoming events

Just wanted to provide it here for your reference


Summer in the City 2012
Events programme January - April 2012



English Conversation Classes

Would you like to meet other people who are learning English? Do you want to practice your conversation skills in a friendly environment?
Join an English conversation class for adults at the Knowledge Centre. Sessions will be conducted by experienced professionals.
Wednesday 10.30am to 11.30am
Saturdays 11.00am to noon
Knowledge Centre @ The Agonis
Refreshments will be provided and bookings are essential.

For details and to secure your booking call 9398 2551.Garden History in GosnellsCity of Gosnells Community Art Award 2012
Opening to all emerging artists.
Categories include:
Overall $4000
Mixed Media & 3D Award $1000
Watercolours Award $1000
Oil/Acrylic Award $1000
Photography $1000
Pastels, Pencils and Pens $1000
Local $500
Student $500
People's Choice (sponsored by Maddington Metro) $100

Download an entry form here
Entries close 4pm - 20 April 2012
Enquiries: Arts and Culture Officer - 9397 3104 or ltrench@gosnells.wa.gov.au


Gosnells Community Cycling Day


A day of cycling activities, including a fun family ride, cycle skills information, basic bike maintenance, bike engraving and safety checks by Jet Cycles Bike Shop and Cycle Coaches.
There will also be a cycle skills course for new or rusty riders to build confidence and practical skills and a healthy morning tea and museum open day at the completion of the family ride.
Date:    Saturday 24 March 2012
Time:    8:30am to 11:30am
Venue:    Wilkinson Homestead Museum,
               Homestead Rd, Gosnells

This is a free event and pre registration is essential.
For details call Leisure Services on 9397 3107

City of Gosnells celebrates Australian Heritage week and showcases our heritage.

Local History Librarian Stephen O'Brien will deliver an illustrated talk on Garden history in Gosnells, explaining the changing nature of local gardens from the earliest European settlement to the present day.

Date: Saturday 21 April 2012

Time: 10.30am to 11.30am

Venue: Knowledge Centre @ The Agonis

Refreshments will be provided and bookings are essential.

For details call the Knowledge Centre on 9398 2551

Author Fiona Palmer @ Knowledge Centre

The Knowledge Centre, in partnership with Dymocks Carousel, will bring books to life as it hosts a talk by WA author Fiona Palmer.

Fiona Palmer is a bright new talent in outback rural romance and has recently released her new book 'The Road Home' about home, love, land and conflict. Fiona will sign copies of her books which will be available through Dymocks at the session.

Date: Thursday 12 April 2012

Time: 6.30pm - 7.30pm

Venue: Knowledge Centre @ The Agonis

Refreshments will be provided and bookings are essential.

For details call Knowledge Centre on 9398 2551

House types in Gosnells through history

City of Gosnells celebrates Australian Heritage week and showcases our unique heritage with an educational program of global changes in Gosnells.

Local History Librarian Stephen O'Brien will talk about the various house types from the Aboriginal shelters and early pioneer homes, using locally sourced and largely unprocessed materials, to the modern homes of today

Date:     Monday 16 April 2012

Time:    6pm to 7pm

Venue:  Knowledge Centre @ The Agonis

Refreshments will be provided and bookings are essential.

For details call the Knowledge Centre on 9398 2551