On Wednesday 15 February, valued clients gathered at a JVA hosted seminar with guest speaker Ben Lamers, Director & Licensee of LMW Advisory.
Ben leads a team of buyers agents and property advisers that act on behalf of investors and property buyers in sourcing and securing investment-grade properties. He is a Licensed Valuer, who has been working within the property industry for over 25 years, with extensive knowledge in the residential and commercial markets throughout Western Australia.
January 2017 saw an increase in the media reporting on good news in the Perth property market, with the average house price climbing back 2.1% over the previous three months (according to the statistics released by CoreLogic‘s latest National Media Release). According to CoreLogics’s Head of Research, Tim Lawless “Buyers still have a great deal of leverage in these markets, with listing numbers remaining high, long selling times and high rates of discounting”. Ben provided guests with some indication of how long these market conditions are expected to last and gave a detailed overview of exactly which Perth properties are currently offering the greatest value for money.
The location of the property is one undeniable element, with some suburbs performing far better than others, but sub-market factors such as proximity to employment hubs, schools, public transport and other amenities also play a key role. Identifying these areas is only the start. Then there is the fine tuning of evidence, deciding what particular type of property is suitable for your needs, what is performing best for that area and why? New, large developments, such as high-rise apartments for example, are best avoided as land appreciates while buildings depreciate and a vast supply of apartments are coming onto the CBD market. Off-the-plan properties are also often sold at the realtors desired rate, not the market rate at the time of completion, so purchase prices can be higher than their actual market value.
To find out more about Ben’s presentation, you can download his slides from the seminar here.
You can reach Ben Lamers and his team at LMW on their website, where you can learn more about the great services they have on offer to assist you to get the best return on your next investment.