Investor Report August 2023

REIWA
Rentals

1,833

REIWA
Vacancy Rate

0.9%

Average
Rent

$580

Investor Report August 2023
WA's Property Market Trends

Rising Rental Market

Investors breathed a sigh of relief as the RBA maintained rates another month, buoyed by positive July inflation data.

1 interest rate rise is possible before Christmas but becoming more remote as an option-especially with the latest inflation data at 4.9%.

This indicates inflation is on the way down without the need for more monetary tightening.

The banks foresee a significant rate reduction as long-term rates dipped by 1% in 12 months post-inflation control.

Rent climb steadily, though slower, with minimal rental options. Among the 570 Bourkes managed properties, 3 were vacant and swiftly leased, with the rest remaining occupied. Perth’s vacancy rate is currently at 0.9%, with supply being the ongoing issue.

Investor Report August 2023
Balancing Rental Solutions

In Canberra, the Federal Greens leader has proposed a two-year rental freeze as a well-intentioned remedy. However this is set to disadvantage you, our investors, with inevitably higher interest rates that cannot be passed onto the tenant. This could amplify property supply issues, hindering the very solution it seeks.

Investor Report August 2023
Shifting Tenancy Landscape

While not etched into law just yet, we’ve caught a glimpse of what might grace the tenancy stage come June/July next year. 

In this upcoming Act, a new proposal emerges regarding pet tenants. The proposal deems that pets would be allowed to tenant a property, provided they do not contradict the property’s strata bylaws. For apartments or units, this is a key change. Special allowances may be made if the owner presents allergies. 

Another note finds its place – the ‘no cause’ termination will be allowed to continue. Owners can continue to terminate a periodic tenancy, with the prescribed notice period, without the need to provide a reason for said termination.

Introducing Bourkes' very own podcast: Perth Property Pod

We are thrilled to launch our very own podcast – Perth Property Pod. Alan and Joe sit down to discuss hot property topics, answer the questions that keep our clients up at night and chat with other experts in the field.

You can check it out on YouTube now, coming to your normal podcast apps very soon!

Investor Report August 2023

Welcoming back a Familiar Face

We are thrilled that Karlie Snelgar has rejoined Bourkes as a full-time property manager. Karlie was previously a receptionist and part-time Property Manager for Bourkes and looks forward to rejoining the team in a full-time capacity, ensuring our landlords and tenants are well taken care of.

Tenant of the Month

This month, we proudly shine a spotlight on Denise. A true embodiment of patience and grace, Denise’s journey with us began in the face of an unexpected challenge – a ceiling collapse. In the midst of adversity, she showcased remarkable resilience, exhibiting a level of kindness that left us truly impressed.

Throughout the process of navigating insurance claims and restoration procedures, Denise’s unwavering patience was a beacon of inspiration. Her positive attitude illuminated the path, even when the road seemed uncertain. Today, as the claim is being processed and the echoes of renovation fill the air, Denise’s spirit remains undaunted.

But that’s not all. Denise’s exceptional character extends beyond her own circumstances. In a gesture that encapsulates the community spirit we hold dear, she has offered to organize a skip bin to clear away the remnants of the old ceiling. Her determination to turn a challenge into an opportunity for positive change serves as a testament to her exceptional nature.

Investor Report August 2023

Contractor of the Quarter

Celebrating Master Clean

Over the last quarter, Master Clean’s exceptional willingness to go the extra mile has truly set them apart. Always ready to accommodate our urgent needs, they’ve proven time and again to be our trusted partner in maintaining the pristine condition of our properties.

Whether it’s a last-minute request or a sudden issue, Master Clean responds with a smile and a solution, ensuring that our properties remain in their finest state.

Punctuality and quality define Master Clean’s approach. Their consistent on-time service delivery and attention to detail has garnered them a reputation for excellence amongst our Bourkes community as they have become an important part of our Property Management team.

Thank you to the team at Master Clean for always going above and beyond.

If you’re looking for someone to make your property shine, reach out to the friendly team at Master Clean!

Good Investments

Investor Report August 2023
6E/9 Parker Street, South Perth

Best Offer by 22nd August (Unless Sold Prior)

Recently renovated with a modern kitchen boasting stone bench tops, glass splash backs, soft close cabinetry and quality appliances the chef in you will be cooking without compromise.

Sold as a fully furnished apartment this unit combines living in a stunning location with easy care living. If you have impeccable taste and like to enjoy the finest things in life then you have found your next home, make your enquiry TODAY!

Property particulars:
2 x 1 x 1 Apartment

Investor Report August 2023
8/413 Canning Highway, Como

Contact Agent for Price Guide

Located within easy access to both public and private schools, public transport, cafés and within walking distance to the Swan River this renovated apartment, in a well-maintained complex should be at the top of your shopping list this weekend.

This ground floor apartment has been recently renovated so you can move in and enjoy life. It has generous sized bedrooms, a large bathroom/laundry combined, and the kitchen/ dining/ living space is open plan, making it super functional.

Other features to love:
– Light and bright interior
– Newly renovated throughout
– Ground level apartment
– Airconditioning
– Allocated parking bay

Property particulars:
2 x 1 x 1 Apartment

Investor Report August 2023
49/6 Manning Terrace, South Perth

Best Offers $369,000

tunning and secure, this two bedroom ground floor apartment comes fully furnished with everything required for riverside living. Move in, unpack and enjoy!

This modern unit has a well equipped kitchen with stainless steel appliances and an open plan lounge | meals area which leads out onto a beautiful and well maintained garden.

If you are looking for a riverside first home, downsizing to a single level or an easy care investment with low costs then look no further, make your enquiry TODAY!

Property Particulars:
2 x 1 x 1 Apartment

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