REIWA
Rentals
2321
REIWA
Vacancy Rate
1.1%
Average
Rent
$450
The new & improved bourkes.com.au is here!
We are thrilled to announce that our new website is officially here!
Our team has been working hard to ensure the new bourkes.com.au welcomes a smoother experience for all.
Users now have access to special features such as making an offer online, purchasing pest & inspection reports before they make an offer, and subscribing to property alerts for rentals and sales.Â
We are confident that the new and improved user experience will increase activity on our listings and online platforms, and we look forward to showing off the refined Bourkes brand throughout.Â
The floodgates are open!
The already tight rental market is likely to have some serious pressure soon as thousands of people pour into W.A!
Currently, many are in temporary accommodation but when they come out, they will need accommodation and with vacancy rates already below 1% and many investors having sold their investment property, it is only going to get worse!
Rents must rise and rise considerably. This is bad news for potential tenants but eventually higher rentals will lure investors back into buying for rental yields and solve the shortage problem. However, this will take time.
Potential investors will look to buy at the bottom of the market i.e. the cheap one and two-bedroom apartments and realise with low-equity investments the units will start paying themselves off.
Buyers Agents (especially from the eastern states) are already calling and requesting video inspections of properties for eager buyers on the East Coast.
When we add capital gains of roughly 5% per annum, we anticipate it will be a reason for investors to return to the market.
If you’d like to discuss options please call your Bourkes salesperson or Alan Bourke on 0419 474 240, for the best property experience.
Example A*:Â
3 units at $600,000 (total investment) renting at $255 each
Equity $120,000
Borrow $480,000 at 3% equals say $15,000 p.a.
Council/water Rates, insurance and strata plus land tax =$15,000 p.a.
Total Costs $30,000
Rent $255 ×3 ×52 weeks =$39,780
Cash Surplus $10,000 per annum
Example B*:Â Â $400,000 – to buy a 2 bed x 2 bath apartment.
Assume Investor’s equity of $80,000 plus costs
Borrow $320,000 at 3% (fixed interest).
Therefore Interest cost is $9600 p.a.
Plus Council rates, Water rates, strata Levies and insurance (say $5000)
Total Costs of say $15,000
Rent at $450 per week = $23,400
Cash surplus is $8400 per annum.
*Please note these are indicative examples only. Please contact a financial advisor to discuss your unique situation.Â
Office News
We have welcomed some new team members!
We are thrilled to welcome Lee Smith and Ryan Constantine to our sales team. They both bring an overwhelming passion fit for the Bourkes team values: a passion for property and care for their clients above all else!
We are also excited to welcome our new Leasing Manager, Brooke. Brooke is already a core part of the Bourkes team, going above and beyond for our clients and tenants.
Video of the Quarter
Good News Story
Our dynamic duo Tony de Graaf & Nicola Tobin have been working hard to increase commercial listings in their portfolio.
In just 2 weeks, they listed and sold 2 properties and their commercial ambitions are inspiring the rest of the organisation to do the same.
If you are interested in finding out more about commercial property investment in Perth – contact our team today.
Tenant of the Month
Our tenant of the month for March is Ross McMahon of Kensington.Â
Ross is a long-term tenant and never fails to pay his rent on time or deliver an excellent property inspection.
Ross is a joy to deal with and his respect and care for the property is always evident to anyone who visits the property, whether a property manager or contractor.Â
Contractor of the Quarter
This quarter, we would like to acknowledge the incredible work and dedication from David at DB2 Pest Control & Building Inspections!
DB2 Pest Control and Building Inspection Services is a local small business that not only focuses on doing the best job but also takes the time to know about you or your business. DB2 gets to know the customer and provides consistent great service no matter how big or small the job.
David, in particular, has gone above and beyond for our clients and our property management team – even attending jobs after hours to ensure our tenants and team have peace of mind and a safe environment.
Good Investments
Low-Mid $300Ks
Natural light permeates throughout the air-conditioned open plan lounge and dining area courtesy of a desirable Northern aspect, creating an appealing sense of space. Adjacent, the contemporary kitchen has quality appliances and ample storage space.
Property particulars:
2 x 1 Unit
Mid $500,000s
This lovely apartment is conveniently located in the highly sought-after suburb of South Perth and the central location puts you within easy reach of everything including Perth CBD, South Perth foreshore, Crown complex as well as the Victoria Park cafe strip.
Property particulars:
2 x 1 Unit
Offers above $299,000 invited
Secure, Convenient & Views!
Great 2 bedroom end apartment in secure complex with sweeping City glimpses, private balcony, open plan living, updated kitchen & bathroom, secure parking, separate storeroom and swimming pool.
Property Particulars:
2 x 1 x 1 Apartment
