Lo­cal sub­urbs buck the trend

Cockburn Gazette - - RESIDENTIAL -

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.

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