Perth’s Western Suburbs Come Second in the Apartment Sales Race

Perth’s western suburbs took home the silver in the apartment sales race during the first three months of this year, narrowly missing out to the inner city. The western suburbs only had 12 active projects compared to the inner city’s 27. However, 55 apartments were sold in the suburbs, which is just 19 behind the 74 sold in Perth’s inner city.

In total, 258 apartments were sold across the Perth metro area during the first quarter, and there was a total of 134 active projects, meaning the western suburbs and the inner city accounted for almost a third of them. An active project refers to housing that’s finished being built or currently being sold.

The inner city’s performance is a huge improvement on the previous quarter, with just 48 apartments being sold in the three months before and including December compared to 74 in the first quarter of this year. Similarly, three more apartments were sold in the western suburbs in the first quarter compared to the previous one despite the housing market being quieter.

Referring to property sales at TRG’s Empire West at Perry Lakes, Mirvac’s Latitude at Leighton Beach, and Blackburne Property Group’s Aria in Swanbourne, Mr. David Cresp, the director of property economics and research at Urbis, said: “The apartments in the western suburbs are being sold to local people.”

There Could be Trouble Ahead

The total value of all apartment sales during the first quarter was $167 million, which is roughly the same as the previous quarter. However, these record sales – especially in the western suburbs where sales haven’t been as high since the final quarter of 2015 – we’re largely unanticipated, but experts say it comes down to unmet demand.

Unfortunately, Mr. Cresp says the apartment market is facing a challenge going forward despite the unmet demand, primarily because buyers are uncertain that apartments will retain their value. Plus, with it taking three years to make constructions ready for sale, it’s difficult to ensure supply meets demand.

“Real estate market confidence is a real problem because by 2020, in Perth, we will have an undersupply of apartments,” explained Mr. Cresp. “This year is going to be the peak level of supply.”

In Perth, apartments represent just 20 percent of the total number of dwelling approvals, which is significantly lower than Brisbane’s 40 percent, though that figure has fallen from the previous year’s 50 percent.

What Can You Do to Ensure Your Apartment Retains Its Value?

While the housing and apartment markets can be uncertain at times, and it’s hard to predict what the future holds, there are a few tried and tested tricks that can help you increase the value of your property. People want an apartment that’s ready to move in as soon as they’ve signed the contracts, meaning you need to make interior design a top priority.

At Furniture Fitouts, we may not be estate agents, but we are experts in interior design, and we offer complete packages to transform your apartment into a stylish masterpiece in the space of three days. From furniture to electrical appliances and cutlery to linen, we can renovate every aspect of your apartment to help you prepare it for the market and get a fair offer. Contact us today for more information.

Breathe new life into your bathroom with these 5 tips

Perth’s property market might have been relatively subdued in recent months, but that hasn’t put a dampener on the number of homes being sold. More than 600 properties were sold in the week ending June 13, an increase of more than 50 from the same time period a year earlier, according to figures collated by the Real Estate Institute of Western Australia.

How can I boost the value of my Perth home?

If you’re considering selling your home in the near future, you’ll naturally be thinking about what you can do to increase the value of your property. Hiring stage furniture in Perth is a simple and efficient way to quickly boost the perceived value of your home and help prospective buyers visualise how their lives would fit into the space. Of course, to really get top dollar for your home, you’ll also need to ensure that all the rooms in your house are looking clean, fresh and focused – and what better place to start than the bathroom?

Experts estimate that the bathroom accounts for 10-20 percent of a home’s overall value, a disproportionately high amount given that it’s typically one of the smaller spaces in a house. With a sale on the horizon, totally renovating your bathroom probably doesn’t make much financial sense, but there are a number of simple, cost-effective things you can do to breathe new life into your bathroom and achieve a higher sell value.

  1. Invest in new Tapware

You might not be conscious of it, but your eye is naturally drawn to the taps in your bathroom. If yours are looking a little outdated, it might be time to pick up some new tapware. Opt for a design and finish that complements the existing aesthetic of the space.

  1. Update your cabinets

With all the moisture in the air, bathroom cabinets can quickly start to deteriorate and detract from your bathroom’s overall appearance. Give your cabinets a lick of paint, replace any broken drawer handles and door knobs, and be sure to give all metal surfaces a good polish.

  1. Paint the room

If the paint on your bathroom walls is fading, chipped or outdated, it’s time to get the rollers out. Light colours are always a safe bet and will appeal to a broad range of buyers, but don’t be afraid to get a bit more creative if you want to. For a professional opinion on colour and decor, contact a Perth styling consultant.

  1. Rethink the lighting

Bathroom lights can be harsh and may cast wayward shadows over some of your bathroom’s best assets. Replace all your incandescent light bulbs with warm LEDs with a lighting output of around 3000k and have a play with the angle and/or brightness of any adjustable bathroom lights. If you want to take things to the next level, installing semi-flush mount lighting fixtures is an easy way to give your bathroom a more contemporary look.

We’re proud to offer a range of fitout services in Perth that can add value to your home. Give us a call today to find out more.

How to incorporate dark colours into your decor like a pro

When it comes to a room’s colour palette, it’s safe to say that the trend in recent years has tended toward lighter tones. Off-white, beige, eggshell and other inoffensive – if uninspiring – tones have been the go-to colours for DIY decorators looking to breathe new life into a tired space.

What’s responsible for this trend?

It largely boils down to the widespread notion that light colours enhance a room by making it look spacious and cheery, while darker hues have a reputation for diminishing a space and make it feel small, dark and dreary.

However, talk to a professional interior designer consultant in Perth, and you’ll find that this concept is not quite so clear cut. Indeed, introducing tasteful dark elements to a room can add drama, create stunning contrast and draw the eye in a way that lighter colours can rarely achieve.

Thinking about incorporating some dark colours into your residential or commercial fitout in Perth? Here are a few tips to help you get the best results:

Dark tones can be colourful too!

It’s important to keep in mind that things that are dark still hold a lot of colour. For example, deep reds, navy blues, rich greens and some shades of purple may all be considered dark but are veritably bursting with vibrancy and can lend a sense of sophisticated colour to any space. Our furniture packages for property fitouts in Perth are highly customisable and can be tailored to meet the specific needs of your residential or commercial space.

Less is more

Unless you’re a very confident decorator and/or aiming for a gothic aesthetic, you’re probably not going to want to adorn your entire home or office in darkness. Instead, start small by simply adding a dark accent to a room, perhaps in the form of a feature wall, door or a striking piece of furniture.

The old adage of ‘less is more’ certainly rings true here. Dark colours are already eye-catching, so give them some space to breathe – try not to pair them with elaborate patterns and textures, which have a lot of potential to clash with their surroundings.

Pair the Yin with the Yang

Contrast and balance are critical components of creating an aesthetically pleasing room. With this in mind, try to balance out dark colours with lighter shades to create a palette in which the tones complement each other. For instance, light furniture will look wonderful against a dark backdrop and vice versa.

In continuing with the theme of yin and yang, don’t be afraid to stray beyond off-whites when it comes to pairing lights with darks. Bright hues such as pink, orange and yellow can make for fantastic points of contrast while injecting hotspots of energy and fun into any room.

Are you thinking about fitting out a commercial or residential space in Perth? With fully customisable packages to suit every type of property, Furniture Fitouts is your first choice when it comes to property makeovers. Contact us today to discuss your property fitout in Perth.

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