It seems each year passes by more and more quickly. Looking back over 2016 in terms of the property market and what’s been happening on the home front, it was a year of ups and downs.

Here’s a rundown of the year that was:

• We introduced our Refer a Friend offer in January, which is our way of thanking all those who refer our services to others. The incentive rewards anyone who refers us to a friend, family member or colleague and the referral results in a sale. The reward is $500 on settlement! Initially intended as a limited offer, we decided to continue the offer on an indefinite basis.
• Australia’s cash rate was 2.0% at the start of 2016. It was reduced to 1.75% in May and hit the historically low 1.50% in August where it remains at the close of 2016.
• Perth entered into a buyers market earlier in the year where it remains at the close of the year. Indeed buyers remain spoilt for choice in the current market.
• We talked about the increasing popularity of auctions in Perth and explained how we work with multi award-winning independent Perth auctioneer, Tom Esze to achieve astonishing results in many cases (our best auction result this year sold for $150,000 above reserve)!
• We shed light on the massive Garden City Shopping Centre upgrade, expected to commence next year.
• Property experts welcomed Treasurer Scott Morrison’s ‘safe’ budget in the lead up to the Federal Election, with negative gearing and capital gains tax left unchanged. The State Government’s budget was also welcomed, particularly the decision to leave property taxes unchanged in the 2016/17 financial year.
• New tax laws were introduced on July 1 for properties sold above $2 million.
• WA negative gearing survey results were released, with the results indicating that property investment provides an opportunity across the board as a means for people to secure their future.
• The City of Melville featured in the news for all the right reasons in July (with a focus on the Garden City upgrade and how it will benefit the local area).
• Applecross and Como featured in Perth’s eight highest growth suburbs list for the year from May 2015 to May 2016.
• The City of Melville secured $23.6 million in funding for local infrastructure for the 2016/17 financial year.
• We celebrated our 10^th anniversary of serving the community with our own boutique brand of real estate sales and service in August.
• Perth experienced a welcome spike in leasing activity in August.
• Consumer confidence rose in WA for the first time in 3 quarters.
• National CPI figures for the September quarter showed real promise for Aussie homebuyer and renters.
• A new Code of Conduct for real estate agents came into effect in October, with a focus on transparency.
• The inaugural #SnapPerth movement was successfully launched in November.
• Trump won the US election in November.
• The City of Melville was in the news again when it topped the state in the national Garage Sale Trail.
• Discussions began to heat up in December on the chance that we could see rates start to rise in 2017.

Merry Christmas & Happy New Year!

 We would like to take this opportunity to wish you and your loved ones a safe and very Merry Christmas and a happy, healthy and prosperous New Year. We look forward to continuing to be of service in 2017 and helping you achieve your property goals, whatever they may be.

 With a number of new listings coming onto the market in January and February we will be very busy over the festive season getting ready for the campaigns and a very busy start to the New Year.