REIWA
Rentals
2,031
REIWA
Vacancy Rate
0.7%
Average
Rent
$550
The Market
We have observed a gradual increase in the number of investors returning to the residential market. This trend can be attributed to the rise in rental yields, making the market more attractive. Additionally, given that the market is unlikely to dip any lower, now is an opportune time to invest.
However, the current market poses a challenge as there is a limited amount of stock available to purchase. With only 6,814 listings, we are now at a 20-year low. On average, properties take about 14 days to sell and 14 days to lease, and there is no indication of an imminent increase in sales or rental listings.
To address the rental crisis, we believe that the Federal Government must incentivize investors and build-to-rent developers to re-enter the market. This can be achieved by reactivating carried forward building and chattel depreciation. If building depreciation rates were increased to 4% of the building cost for new residential builds, it would instantly improve building for investment.
Last Quarter
In the last quarter, Bourke sold 63 properties and leased 35, which was slightly below budgeted numbers. However, our gross income increased by 27% due to higher sales and rental figures. We remain confident in our ability to deliver results for our valued investors and landlords.
Thank you
We are thrilled to celebrate our 35th anniversary this month. As the longest-standing single-ownership company in the area, we are extremely proud of our journey and the many accomplishments we have achieved.
We extend our sincerest gratitude to our valued clients and dedicated staff members who have contributed to our longevity and success over the years. Without your trust, loyalty, and support, we would not be where we are today.
As we reflect on the past 35 years, we are grateful for the relationships we have built and the opportunity to help our clients achieve the best experience in property. We look forward to continuing to serve our community with the same dedication and commitment that has been the cornerstone of our business for 35 years.
Thank you for choosing Bourkes as your trusted real estate partner. Here’s to another 35 years of success!
As the end of the financial year approaches and the demand for rental properties continues to increase, now is the perfect time to consider investing in property and partnering with Bourkes for exceptional property management services.
Our Business Development Manager for Property Management, Kim Austen, shares valuable insights in our latest video, which we encourage you to check out and share with your family and friends. Contact us today for a complimentary rental appraisal to explore your options and maximize your investment potential.
We are thrilled to share that we have reached over 300 Google reviews with a satisfying 4.7-star rating. Reaching this milestone has been a major focus for our team in 2023 so far and it is pleasing to see it pay off!
If you could take a moment to leave us a five-star rating on Google, it would be greatly appreciated. You can do so via the button below. Your feedback helps us to continuously improve our services and assist our clients with their property needs.
Thank you for your support and for choosing Bourkes as your trusted real estate agency.
Tenant of the Month
We would like to extend our warmest congratulations to the Tomljanovich family for being named Tenant of the Month for April. They have been recognized for their exceptional efforts in maintaining their property, consistent on-time payments, and positive attitude towards routine rental inspections. We greatly appreciate their dedication to keeping their home in excellent condition, and commend them for their well-deserved achievement.
Contractor of the Quarter
We would like to extend our congratulations to Top of the Ladder for being named Bourkes’ Contractor of the Quarter. Their exceptional service and responsiveness in ensuring our clients’ gutters are cleared ahead of the winter season have been greatly appreciated. We are grateful for their commitment to excellence and proud to have them as a trusted partner for our clients’ property maintenance needs.Â
If you are in need of gutter cleaning services in the lead up to the rainy season, contact them today or speak to your Property Manager.Â
Good Investments
Offers Above $295,000 presented
Conveniently located beach side of Como. Walk to shops, the river and enjoy the best lifestyle this city side suburb has to offer!
Open plan kitchen, meals and living area with wood look floors and reverse cycle air con unit. Kitchen has a good amount of storage and upright gas cooker.
Two generously sized bedrooms, main with a large built in robe and two private balconies, one to the front and one to the rear of the property. Combined bathroom and laundry with shower/bath & separate WC. Also good storage with built in linen cupboard.
Property particulars:
2 x 1 x 1 Apartment
Suit Buyers in the $400,000s
This apartment is located in a prime location in Rivervale, with easy access to Perth CBD and the Swan River through the nearby cycleways. The apartment itself is situated in a secure gated complex and boasts a modern design and well-maintained interior.
The open-plan living area features a stylish kitchen with gas cooking, stainless steel appliances, and stone benchtops. Both bedrooms are generously sized and include built-in robes, and there are two stylish bathrooms and European-style laundry.
Property particulars:
2 x 2 x 2 Apartment
All Offers Presented
With a generous 21m² balcony featuring eastern views to the Perth hills and northerly views to the city, this residence is flooded with natural light, and cleverly combines contemporary finishes with a warm, neutral colour palette.Â
And at the end of a long day, indulge in the first-class shared facilities, including:
- gymnasium and dry sauna
- wine cellar and tasting room
- private dining pavilion
- sunset deck with BBQ terrace
- roof-top yoga retreat
- electric car charging and car wash bays
- secure bicycle storage area
Property Particulars:
1 x 1 x 1 Apartment
