Jessica Hawes and her fiance Callan Bennett sold their Parmelia property in Perth's south last week for $115,000 above what they paid for it in September 2019, thanks to a huge house price boom in the area and across the country.Urgency among buyers is being reported as a major factorThe City of Kwinana, which includes Parmelia, recorded the biggest increase in property value in Perth in the last 12 months, up by nearly 11 per cent, according to CoreLogic.
Ms Hawes said she was not nervous about selling because of how well the market had been doing, but did not expect the first and only offer would come through before the home was even listed online.Coulson & Co Real Estate, which sold the couple's home, primarily services the Kwinana and Rockingham areas and has recorded a huge increase in business in the last year.
The increase in value was leading to a discrepancy between property valuers and agents, he said, because agents were working to the current market whereas valuers dealt with historical evidence. She said one of her most successful properties, which had undergone minor renovations, attracted 15 buyers and recently sold for $850,000, after being purchased just four years earlier for $700,000.Ms Burke said since the five-day shutdown in the Perth, Peel and South-West regions, properties were selling even quicker, with some interstate buyers purchasing blind.
Mr Lawless said typically "affordable" areas were seeing the biggest increase in house prices across WA as the state's housing market clocked its biggest growth rate since the mining boom in mid-2014.
Crazy! Job keepers money will be all into house market! What a great world!
If the market crashes and that avoided negative equity they will be laughing.
In Australia we tax work and reward unearned gains like inheritance, rental income, and manufactured asset bubbles
Well done! Great to see some positive news for a change ABCNews
Hanning22 well gone
This is what taxes are paying for?
Come on, buy up ppl not a lot of Chinese investors any more so can’t blame them for the price going up.
They only “made” money if they downsize.....
Lol. U could’ve made that much in 6 months with just $10k deposit on Bitcoin.
You may be surprised why ABC is promoting the property. Is the property really booming? If it is in the booming market, the media doesn't have to promote. The market is bad at the moment, the media and govt try to mislead us.
it will all fall to pieces when they find the price of the next property they want has gone up by $50,000.
Well given the market is up across the board in many places by 5-10+ % this is not particularly remarkable. Likely anything they buy next has increased by that margin also.
Stop revering people who make money. Just stop it. Now.
More propaganda ... young people can't buy houses... my hunch is these are rich kids that mummy and daddy bought them a house... stop talking shit ABC
Well done, RBA.
The title and picture make it look like a News Corp style article... 🙄
is this a paid promotion for the Real-estate industry? There are serious problems caused by insane escalation in sale prices of homes in Australia. auspol
I knew a guy once bought cheap land and lived in the old beat up shed on it for 20 years. Saved his cash. Then he built.a beautiful brick home on it and retired. Moral of the story, he still misses the shed.
What a pathetic headline
The shame of this is that in Australia, wealth is based on speculation, not on actual talent & industry. The country is poorer for stories like this.
And now property becomes even more unaffordable for everyone else. Slow clap...🙄
The more they buy and sell, the more money they will lose to agent, gov fees... Maybe, you should tell us about all the people that have lost $50k trying to emulate this feat?
The Perth property market has had negative growth (loss) for 10-12 years.... I guess after dropping so low the only way is up
They’ll just have to pump that money into the same market if they want a roof over their head, so it’s not exactly making money
'made' is doing a lot of heavy lifting in that headline.
They haven't made a cent. They still have to buy another house, and agent fees and stamp duty are going to mean they have actually lost money.
They didn't make anything - there was nothing made and no value added. This is nothing but rampant inflation and it should not be celebrated.
Now they have to buy another house at the new prices.
Another week another ABC News propaganda story about how young people can TOTALLY afford property in Australia 🙄
The low IQ story slide continues for the ABC
And the tax man takes it
$52,000 in 17 MONTHS... Wow!
Looked at a property in regional Vic about 3 years ago, the owner was asking $180K more than they paid for it 18 months earlier. Never did get an answer on how $10K / month increase in value was worked out or justified on a $540K original investment but good if you can get it.
Here’s hoping paying rent doesn’t eat too much of that. They’re going to need it (and more) for the deposit on their next house
Lucky. They would likely lose triple that in the months and years ahead! Property in most areas is set to meltdown. Stop the shit propaganda, !
Sure they made a profit... on the house they sold, but one assumes their next house will also have gone up in price? Buy and sell in the same market, your financial situation won't change.
taxman will get his cut 🤣🤣🤣
well. arent. they. clever. getting the most for yourself and ahead of the next guy. thats what its all about.
Just enough to pay the stamp duty on their next purchase.
but didn't the rest of Perth go up? So unless they are going to leave Perth, they are in the same boat.
Yep and it will cost them $52,000 more to get back into the market plus the increase in SD.