Categories
Categories
Perth Market Update June 2023
Last week the State announced their proposed changes to the tenancy laws (Residential Tenancy Act) which hopefully puts an end to the uncertainty that has lingered in the air for some time.
Property investors in the Eastern states have already experienced the abolishment of the no grounds termination which greatly reduces the rights of the investor. The good news is that WA investors are keeping this right.
So what else has the State Government announced?
- prohibiting the practice of rent bidding, with landlords and property managers unable to pressure or encourage tenants to offer more than the advertised rent;
- reducing the frequency of rent increases to once every 12 months;
- tenants will be allowed to keep a pet or pets in a rental premises in most cases;
- tenants will be able to make certain minor modifications to the rental premises and the landlord will only be able to refuse consent on certain grounds;
- the release of security bonds at the end of a tenancy will be streamlined, allowing tenants and investors to apply separately regarding how bond payments are to be disbursed; and
- disputes over bond payments, as well as disagreements about pets and minor modifications, will be referred to the Commissioner for Consumer Protection for determination.
Note that as these changes are only proposed changes, the changes are not expected to come into effect overnight. However, industry stakeholders have welcomed the changes. (reiwa)
What about the Perth Property Market?
In the meantime, there is certainly no heat coming out of this market. For those thinking about it, there are so many reasons to get your property ready to sell sooner rather than later…not least, the low stock levels which are at record lows.
This means that buyers are willing to pay significant premiums for homes that are move in ready and presented well. If this is you or if you would like some advice on how to get your home ready, I would love to hear from you!
Simply get in touch here or call 0466 725 866
When you’re the executor of a deceased estate there are a couple of extra steps that you need to consider compared to when you are selling your own home.
First of all, if there is no will in place, you need to apply for a Letter of Administration, from the Supreme Court of WA. If this is the case, it is highly recommended that you seek advice from a local estate lawyer.
On the other hand, if there is a valid Will and you are listed as the executor in the Will, you can apply for a Grant of Probate, also referred to as Probate, via the Supreme Court of WA.
This process under deceased estate property can take months and it may be worthwhile to seek assistance from a wills and estate lawyer.
The next step is to apply to Landgate for the name of the title to be changed to your name as the executor. Once the title is updated, the property can then be sold.
When can you actually start listing the property for sale and start selling it?
If you are appointed as the executor, you can start the process straight away. However, the property cannot settle until you are listed as the Executor on the title. If, for whatever reason, you cannot wait until the new titles are issued, it is possible to start the sales process earlier, for instance when Probate is granted but titles haven’t been updated. In that instance, a special condition should be included in the sales contract to make it clear that the sale is subject to the issue of the new titles from Landgate. The recommended approach is to wait until Landgate has finished with the changeover of the name.
At The Haus Exchange we are have acted as the exclusive selling agent on a number of deceased estate homes in Perth, Western Australia. We are experts when it comes to deceased estate properties.
We can help you removing the stress of being being an executor of a deceased estate and we have access to the right experts that can assist in making the difficult process easy.
Frequently Asked Questions
Is it worth renovating a deceased estate in WA before selling?
It depends on the condition of the property and how much the renovation is going to cost. If the house hasn’t had any improvements for 30+ years it is generally best to leave it in an as is condition and let the buyer deal with it. As a licensed real estate agent we are qualified to give you specific advice.
How do I sell my parents house that is a deceased estate in Perth, WA?
You need to be appointed the executor of the estate and you would have to apply for a Grant of Probate if there is a valid will before you submit your application to Landgate. The property can only settle when the name on the title is changed into the executors name. If in doubt, you should seek legal advice from an estate lawyer.
Can I sell a house without probate in WA?
In theory you can sign a contract without probate but the property cannot settle until the title records at Landgate are updated. It is recommended to wait until Landgate has issued a new title before accepting an offer and selling the property.
Who controls a deceased estate in WA?
The executor is solely responsible for the administration of the estate. The nominated executor may appoint a real estate agent to act on his or her behalf but the executor remains legally responsible and liable for the estate.
Can an executor sell property of the estate?
The appointed executor of the estate will need to have the property transferred into their name as the executor. If there is a Will in place the executor have to apply for a grant of probate before lodging the application to Landgate. The property can only sell when the name on the title is changed into the executors name as the executor of the estate. If in doubt you should seek legal advice from an estate lawyer.
Can I sell property without probate?
Technically you can sell without probate but you cannot settle the transaction before the property is transferred via Landgate. Before you can submit an application to Landgate you need a Grant of Probate. The Grant of Probate allows the executor authority to proceed with distributing and handling the assets within an estate, including property .
How soon can a property be sold after a death?
You won’t be able to sell the home until probate has been granted and the title is changed via Landgate. Although you may put the property on the market, contracts can’t be exchanged or settled – so your buyer will need to be prepared to wait. The timeframe can differ and it will therefore make the sale more complicated.
Can a deceased estate be sold in ‘as is’ condition?
Yes, you can sell a deceased estate in “as is” condition but if buyers cannot do their own due diligence as part of the contract, it may turn off a portion of the buyers and you are likely to sell for a reduced price.
How do I obtain a Grant of Probate in WA?
A Grant of Probate can be applied from the Supreme Court of WA and can take a while (months rather than days or weeks). It is not compulsory to use a specialist Estate Lawyer but it is recommended, as it is likely to speed up the process as an Estate Lawyer is an expert in this field.
Why do I need a Grant of Probate for a Perth property?
The Grant of Probate validates that the last Will and is the process of registering the last Will. Probate is required for changing the name of the title for any property in the estate.
Which method of sale is best for a deceased estate?
The executor can choose any method of sale, however, an auction or an online auction is a popular method to ensure a transparent sale.
Capital Gains Implications when selling a Perth Deceased Estate
Depending on when the property was originally purchased and if it was the primary residence or an investment property, there may be capital gains implications. It is best to seek advice from your accountant as well as an estate lawyer if you are unsure of your situation or check out the ATO website.
Note that generally speaking, the 2 year rule is calculated from the deceased’s death to settlement date (not contract date). For more details, please visit the ATO website
Helpful links when selling a Deceased Estate in Perth
At The Haus Exchange we are have acted as selling agent on a number of deceased estates and we are experts when it comes to deceased estates. We can help you removing the stress of being being an executor of a deceased estate and we have access to the right experts that can assist in making the difficult process easy.
Free Staging – Free Advice When Selling
What is your home worth? – Free online market performance report
What the Executor needs to know when selling a deceased estate
One of our clients recently asked whether they should bother staging and styling their home for sale.
For us the answer to this is yes, yes and absolutely without a doubt YES! It also really doesn’t have to be all that hard and it makes a huge difference to the final sale price of your home.
In essence, it’s just about dressing your home up to look its best, so that it appeals to as many Perth property buyers as possible. In some properties, you can achieve this with just a little bit of decluttering and tidying. However, most of our client’s use our own in house and fully complimentary home staging service, the Haus Concierge to decorate the whole house with furniture and accessories, showing buyers just how easily they could live there in style.
Home styling is also perfect for empty or investment properties as some buyers can have a hard time visualising how they might live in a property without cues like furniture and accessories. Having a fully styled property means that they don’t have to think about this at all, as instead, they can immediately picture themselves moving right on in.
In the end, it is really all just about showcasing and targeting your property in its best light to all potential buyers. Professional home staging make the photos look fantastic, meaning that more buyers will want to come and view it in person. It could be the difference between a buyer choosing to put their time into visiting your home open over another Perth property listing, so why wouldn’t you.
Despite all the media speculation, the Perth property market continues to hold steady. Indeed, the REIWA CEO Cath Hart has recently said that
“Our market remains resilient and stable, particularly when compared to the east coast. Perth and WA are still in an excellent position to weather future rate rises, with our strong economy, growing population, limited stock levels and affordable housing.”
If the activity level for 2023 so far is to go by, we will certainly see the market continuing to be a sellers market and a good indication is the strong interest from interstate investors.
Over the summer I’ve been speaking with many homeowners like yourself that are curious about our property value predictions for the year ahead. Many of them have been pleasantly surprised at how the market is going and the value of their home.
You may also be very pleasantly surprised to know just how much your Perth property is actually worth at today’s local prices.
If you would like to discuss or would like an update on the 2023 value of your home or investment, please get in touch. It doesn’t matter if you are looking to make a move in 2023 or you are just curious as to how much your property is worth. I would be happy to provide a fully complimentary and with no obligation written report on the current estimated value of your property.
Simply click below and I will be in touch.
Categories
Perth market update
What you can expect for 2023.
We are coming towards the end of the year. So, what is happening right now and what can you expect for the next couple of months and into 2023?
The question that keeps popping up is the effect of the interest rate rises that we have experienced over the last couple of months. I believe we are going to receive another interest rate rise, but I actually don’t think, it’s going to make much of a difference. This is why.
- The property prices has gone up since January and though they have taken a small step backwards in the past quarter but less than a percent.
What I am experiencing when selling homes and talking to buyers is that they’re still out there in force. They are still heaps of people looking to buy, but when there used to be maybe six offers on a property you might only looking at four or five now. So, it’s still a sellers market. Interesting enough, there’s a lot of investors buying, and some of them are interstate or overseas. And in the last couple of months, we’ve received a number of offers on properties from interstate and overseas purchases. They love Perth because the rental return is really strong and the median house price is the lowest of any of the capital cities.
2) The first home buyers who are also very active in the market, are now getting competition from the investors. The first home buyers are active because they can’t find a rental. And if they find a rental, the rent is pretty high. In some cases, getting a mortgage is actually cheaper than renting. So, the market is strong from a seller’s point of view, and we are 30% under a balanced market.
So, who’s selling now?
There are a lot of investors who are starting to sell their investment properties. They’re cashing in on their asset. They’re doing that because even though the rental market is good, the selling market is even better, because there’s hardly anything for sale. And quite often we receive multiple offers on properties. Another reason why a lot of investors are coming to me to sell their properties is because their fixed interest rate is about to go up. So, in some cases, they’re looking at having to pay the double the amount. The other market that is still very strong is your family homes. People trade up, people are downsizing, and that’s never gonna change. Some people, unfortunately are getting divorced.
The market right now is as strong as it was earlier the year. We have seen, price increases throughout the year. So, early 2023 looks like a good time to list your property for sale and cash in. As always, the value of your home depends on a number of factors, What the condition it is in, the location, the size.
If you’d like to know what your property might be worth in the current market or even your investment property is worth in the current market, do get in touch.
What is your home worth?
Would you like to know what your Perth property (home or investment) is worth?
Whether for planning, financial management, an additional mortgage or just peace of mind, decisions made with anything less than the facts can lead you to make choices that may not be in your best interests.
We can provide you with the facts to calculate an accurate assessment of equity available in your property for a new purchase, upgrade, downsize or investment.
Categories
Perth market update
What you can expect for 2023.
We are coming towards the end of the year. So, what is happening right now and what can you expect for the next couple of months and into 2023?
The question that keeps popping up is the effect of the interest rate rises that we have experienced over the last couple of months. I believe we are going to receive another interest rate rise, but I actually don’t think, it’s going to make much of a difference. This is why.
- The property prices has gone up since January and though they have taken a small step backwards in the past quarter but less than a percent.
What I am experiencing when selling homes and talking to buyers is that they’re still out there in force. They are still heaps of people looking to buy, but when there used to be maybe six offers on a property you might only looking at four or five now. So, it’s still a sellers market. Interesting enough, there’s a lot of investors buying, and some of them are interstate or overseas. And in the last couple of months, we’ve received a number of offers on properties from interstate and overseas purchases. They love Perth because the rental return is really strong and the median house price is the lowest of any of the capital cities.
2) The first home buyers who are also very active in the market, are now getting competition from the investors. The first home buyers are active because they can’t find a rental. And if they find a rental, the rent is pretty high. In some cases, getting a mortgage is actually cheaper than renting. So, the market is strong from a seller’s point of view, and we are 30% under a balanced market.
So, who’s selling now?
There are a lot of investors who are starting to sell their investment properties. They’re cashing in on their asset. They’re doing that because even though the rental market is good, the selling market is even better, because there’s hardly anything for sale. And quite often we receive multiple offers on properties. Another reason why a lot of investors are coming to me to sell their properties is because their fixed interest rate is about to go up. So, in some cases, they’re looking at having to pay the double the amount. The other market that is still very strong is your family homes. People trade up, people are downsizing, and that’s never gonna change. Some people, unfortunately are getting divorced.
The market right now is as strong as it was earlier the year. We have seen, price increases throughout the year. So, early 2023 looks like a good time to list your property for sale and cash in. As always, the value of your home depends on a number of factors, What the condition it is in, the location, the size.
If you’d like to know what your property might be worth in the current market or even your investment property is worth in the current market, do get in touch.
Categories
FAQs
(Frequently Asked Questions)
If you are are thinking of selling your home or investment property, there are a lot of questions that may come to mind and it can all be very daunting. The good news is that you are not alone. Below we have shared our most frequently asked questions and please always remember that there is no such thing as a silly question so please do not hesitate to contact us with any questions that you may have.
Categories
Selling Your Property ? Here’s How….
- Are you selling your own home?
- Are you selling in Perth from interstate?
- Are you selling a deceased estate?
Regardless of your situation, we can take the stress out of the entire process.
Whether you are at the other end of the city, living in another state, or even living overseas – we can do the dirty work for you.
That’s right. We will take care of everything.
Before going to market
We will prepare your property for sale which could include organising trades such as:
- painter
- plumber
- electrician
- handyman
- cleaner
- even FREE staging and styling of the property
Marketing your property and negotiating
When it comes to marketing the property for sale, we are experts in generating urgency and competition for your property to ensure that you get the best possible price.
Post Sale
Finally, post sale we will continue to sort out all the practical stuff including organising the settlement agent and any final inspections so you won’t have to lift a finger.
Just sit back and relax while our experts do it all.
Watch this 1 minute video below where Rasmus from The Haus Exchange explains exactly how the process works.
Now that you’ve watched the video you may be wondering what’s next.
Our team of experts will guide you on this journey. From staging to styling and everything in between. We can help sell your property remotely. Your first step is simple. Contact us today to get the ball rolling.
You may also like:
When it comes to selling your home, price isn’t just about bricks and mortar. Buyers don’t fall in love with square metres — they fall in love with how a home makes them feel. That’s why property staging and presentation can be the difference between a “good” sale and a great one.
Why Presentation Matters
First impressions count. The moment a buyer walks through the door, they’re subconsciously asking themselves:
- Can I see myself living here?
- Does this feel like home?
A well-presented property answers those questions with a resounding yes. When buyers connect emotionally, they’re far more willing to stretch their budget.
The Power of Staging
Staging isn’t about hiding flaws or filling your home with trendy furniture. It’s about creating a lifestyle that buyers aspire to. A staged home highlights the best features of each space, while minimising distractions. For example:
- A cosy reading nook turns a corner into an inviting retreat.
- Fresh linen and soft lighting transform a bedroom into a sanctuary.
- Carefully placed artwork or mirrors can make rooms feel larger and brighter.
It’s not just decoration — it’s strategy.
Creating an Emotional Response
Think about the homes that have stuck in your mind. Chances are, they didn’t just tick boxes on paper — they made you feel something. That’s the secret of staging.
By setting the scene, you help buyers imagine morning coffees in the sunny kitchen, family dinners around the table, or summer evenings in the garden. The stronger the emotional connection, the more value they place on the property.
The Financial Pay-Off
Studies consistently show that staged homes sell faster and for higher prices. Buyers perceive them as “move-in ready” and are less likely to haggle. In fact, staged homes can increase offers by tens of thousands of dollars compared to unstaged properties.
Why We Offer Free Staging
At The Haus Exchange, we believe every seller should benefit from this strategy. That’s why we include free staging and styling with every property we sell. It’s our way of ensuring your home is presented at its absolute best — and that you achieve the strongest possible result.
We pride ourselves on this and we have a proven track record to get the best results and the highest buyer reach possible.
If you’d like to know more about how that can happen for your property, please do get in touch.