Archive for Retirement Unitd

Landlords vital in the fight against homelessness

Homelessness remains a problem in WA and there is much to be done to help our fellow West Australians affected by this.
National Homelessness Week kicks off on Monday 6 August, with this year’s campaign reminding Australians ‘there’s always something you can do’.

As part of the campaign, Shelter WA will be running a series of events in the metro area to raise awareness of homelessness across the state. Landlords Making A Difference is one of these events (details available at shelterwa.org.au), with WA landlords invited to attend to hear from government, industry and not-for-profit sector speakers about the actions they can take – small and large – to help in the fight against homelessness.

WA needs more diverse rental housing

The private rental market plays a vital role in helping to provide safe, affordable and accessible housing. Recently, REIWA met with Shelter WA to discuss our shared priorities of delivering a more diverse range of rental properties to accommodate WA’s changing housing needs.

Currently, the WA rental market does not adequately cater to those most at risk of homelessness, with Anglicare WA’s 2018 Rental Affordability Snapshot highlighting this issue. The snapshot found less than a quarter of rental properties in Perth are affordable for families where one parent is earning the minimum wage and the other is caring for small children, while even fewer properties are affordable to those who receive a pension or other forms of income support.

While these big, systemic issues can feel beyond the scope of any individual, there are still plenty of things landlords can do to make a difference. For example, allowing pets in the home can make a big difference to someone who is fleeing family violence and looking for a new place to rent, but is fearful of leaving their pet behind.

Victims of family violence at risk

Family violence is a key contributor to homelessness. Victims of family violence suffer significant hardships when they are forced to leave a rental home. They are at risk of homelessness, loss of employment opportunities and disruption to their children’s education. They also frequently carry the financial burden when a tenancy ends, such as paying unpaid bills they are not wholly responsible for.

Supporting these victims is just one way landlords can make a difference. REIWA recognises the role our industry plays and we are supportive of the Government’s efforts to amend the Residential Tenancies Act to better assist victims of family violence. We have been working with the Government to ensure appropriate safeguards are in place to maintain a supportive environment for property investment, while ensuring victims have better protection within the context of a residential setting.

We all have a part to play in helping those who struggle to find appropriate housing opportunities. I encourage everyone to look at the small ways they can help make a big difference to those sleeping rough on our streets this Homelessness Week.

Support WA’s homeless

If you’d like to help out those sleeping rough on our streets, please consider donating.

By doing so, you’ll be helping REIWA’s Community REInvestpartner, The Salvation Army, provide much-needed services to those in need such as meals, accommodation and crisis counselling.

Donate now

Perth property market begins its recovery in December quarter

Perth property market begins its recovery in December quarterNEW
06 February 2018

The Perth property market ended 2017 on a positive note, with December quarter data showing improvements in median prices, sales activity, listing levels and average selling days.

REIWA President Hayden Groves said it boded well for Perth that all key indicators had improved over the quarter.

“The Perth market found its floor and stabilised in the back half of 2017. We now appear to be entering a recovery phase, though REIWA remains cautious about expectations of rapid growth in the next 12 months,” Mr Groves said.

Median house and unit price
Perth’s preliminary median house price increased 1.2 per cent to $516,000 in the December quarter 2017.

“Once all sales have settled, we expect the final December quarter median to lift to $520,000, which is a notable improvement on the September quarter median of $510,000.

“On an annual basis, the Perth market is very stable. We’ve observed consistent price levels between the December 2016 and 2017 quarters which is a strong signifier the market has turned a corner,” Mr Groves said.

Perth’s median unit price is $405,000 for the December 2017 quarter which is a 1.3 per cent increase on the September quarter.

“It’s encouraging to see Perth’s house and unit medians increase over the quarter because it suggests one sector hasn’t recovered at the expense of the other,” Mr Groves said.

Sales activity
There were 4,946 dwelling sales in Perth in the December quarter.

Mr Groves said this figure was expected to lift to 6,700 once all sales had settled, putting it significantly above the September quarter sales figure.

“Traditionally, the September quarter outperforms the December quarter, but that wasn’t the case in 2017. The December quarter is on track to record 14 per cent more sales than the September quarter,” Mr Groves said.

REIWA analysis shows the composition of sales shifted in the December quarter in Perth, with more transactions occurring above $700,000.

“We’ve observed a surge of activity in Perth’s aspirational suburbs, with buyers recognising there is good opportunity to secure a home in these areas which might have previously been considered unattainable by many,” Mr Groves said.

“This spike in sales above $700,000 has also contributed to Perth’s median house price increasing over the quarter.”

Listings for sale
There were 13,088 properties for sale in Perth at the end of the December quarter.

Mr Groves said this was on par with the September quarter figure and six per cent less than the December 2016 quarter figure.

“There were 800 fewer listings in Perth at the end of 2017 than there was in 2016 and some 1,300 less than there were at the same time 2015. We have consistently seen stock levels decline over the last two years as the market trends towards parity,” Mr Groves said.

“Declining listing levels combined with notable improvements in sales activity has helped restore net-demand. With buyer activity increasing, stock levels are being absorbed faster,” Mr Groves said.

Average selling days
It was 10 days faster to sell in the December quarter than it was in the September quarter, with it taking on average 60 days to secure a sale.

It’s been two years since it was this quick to sell in Perth. The combination of sellers’ preparedness to meet the market and buyer appetite for well-priced property has significantly shortened days-on-market,” Mr Groves said.

View more WA market information

https://reiwa.com.au/about-us/news/perth-property-market-begins-its-recovery-in-december-quarter/

My Community helps others in need.

Over the last year, I have become involved with a local community group, and now attend weekly gatherings and contribute in various ways.

We meet at the Emerald Terrace Community Centre in Edgewater to do craft, chat, and do good works too.

We have a table of stuff brought in by various members that we put up for raffle. (Last week my daughter gave me some toys my grandson had grown out of to pass on to other people). During the morning, people wander around and but raffle tickets for the items that interest them. The winner will take one item. A table with more expensive items is for gold coin donations only.

We also have a table of items for free, anyone can help themselves to those.

Another table has the beautiful bread I collect every week from the very generous Dejaxo bakery in Carine Glades. Everyone helps themselves to those too. The leftover bread (and there is always a lot left over!) goes to a Retirement Village.

There is also a table full of home-made jams made from strawberries, plums, grapes, marmalade, and other seasonal fruits, which you can purchase for $2 a jar.

All of the money raised throughout the year is donated to different charities and institutions, helping various groups as much as we can.

It feels good to be a part of a community group like this. Not only for the social aspect but because I am fortunate enough to be in a position to help, and all it takes is a little bit of my time. Which groups or communities are you a part of? Do you find you get a lot out of it?