Local suburbs buck the trend
THE winter months in Perth are usually cold and wet and this year has been no exception, with several storms battering the city and suburbs.
These conditions can damage properties, fences, gardens and trees. Depending on the severity of the damage, most homeowners can do the repairs.
However, what happens if you’re a property owner in the process of selling your home?
REIWA president Hayden Groves said if you have recently sold your property and it is under contract when the storm damage is caused, clause 8 of the joint form of general conditions relating to “risk” comes into play.
“If the property becomes uninhabitable or any other building or improvement is rendered unusable compared to as at the contract date, the seller is required, under clause 8.3, to give notice to the buyer to that effect,” he said.
“There are additional contractual elements to this, fortunately rare, occurrence and legal advice is often necessary to ensure both parties to the contract understand their rights and obligations.”
If the damage to the property is minor, Mr Groves said the seller could refer to clause 9.1(e) of the joint form of general conditions whereby it is warranted the property at settlement will be in the same state and condition it was in immediately prior to the contract date. WINTHROP, Fremantle, Palmyra and Mt Pleasant have been named among Reiwa’s top 10 Perth suburbs for median house price growth.
Winthrop placed fourth for house price growth, recording a 22.8 per cent increase in the 12 months to April 2018.
By comparison, the Perth metropolitan region median house price declined 1.6 per cent over the same period.
The northern coastal suburb of Kallaroo took out top spot on the list, recording a 44 per cent increase in the median house price.
Other top performers included Trigg, with median house price growth of 34.5 per cent, Claremont (25.6 per cent) and Helena Valley (17.5 per cent).
Claremont was the most expensive suburb on the list, with a median house price of $1.57 million, just outdoing Trigg at $1.55 million.
Mt Pleasant was the most expensive southern suburb with a median house price of $1.08 million.
The most affordable suburb was Medina with a median house price of $227,500. This price was up 16.7 per cent on the previous year.