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dethridgeGROVES Real Estate Spring Newsletter
Property Investment Services.
Dethridge Groves

PROPERTY INVESTMENT SERVICES

Spring into action

welcome to spring 2014

Welcome to dethridgeGROVES Spring quarterly newsletter. In this season’s edition we discuss Spring Maintenance: what does this mean for Landlords with gardens, reticulation and air conditioners. In other news, we provide an update on the market from our Principal Hayden Groves, and we discuss the excitement around living and supporting local, The Fremantle Festival.

SPRING MAINTENANCE

Is your property SUMMER ready?

The much anticipated change of season brings with it enthusiasm, excitement and a little zest. Houses stand taller, balconies, patios and veranda’s become the focal point of the home, air conditioners blow out the cobwebs and plants begin to grow in the most unexpected places.   

Spring is often a period of rejuvenation, it is also one of the most important times of year for Landlords to invest in their properties. Preparing your property in the coming weeks will safeguard it against the unforgiving Perth summer. For example, simply mulching your garden will;
  • Reduce evaporation of water from the soil
  • Regulate soil temperature by providing an insulation layer
  • Help to control weeds
  • Reduce erosion
  • Increase nutrient content as the mulch breaks down
  • Plant pathogen suppression  
Mulches will decompose in time but the rate of decomposition will depend on the type, particle size and composition. 

Being aware of the type of air conditioner installed at your property is important. Evaporative air-conditioners require servicing, which may include filter and residue checks, fan belt, water & drain valves  check, a test run of the machine and a written report if additional work is required. Servicing your air conditioner prior to summer supports heavy use during the peak season and also reduces the chances of a breakdown.

For properties with gardens, you may want to consider reticulation maintenance. Ensuring your water system is in working order and your sprinklers pop up will avoid ground dehydration and burnt grass.

Should you wish to discuss any of the above mentioned spring maintenance services or obtain a quote, please contact your Property Manager directly to arrange it.


 

property investment

market update

After battling with soft market conditions over the winter period we had grave concerns that vacancy rates would continue to rise and rents continue to fall. It seems, however, that the market has bottomed for now with a significant upswing in properties leased for the month of August. dG leased 28 properties for the month, well above the monthly average and against trend for winter and the market generally. Vacancy rates are at around 3.5 per cent, a smidge below the metropolitan average which stubbornly sits at 4 per cent. Rental stock has diminished slightly with 150 fewer properties for lease around the metro area. Rents continue to soften with Perth’s median rent now at $450 per week for houses (down $10 on last quarter) and $430 per week for apartments, a fall of $15 over the same period.

First home buyers are dropping away from the established housing market as attractive incentives to buy land and build along with the down shift of stamp duty concessions to a maximum purchase of $430,000 move would-be buyers back to rental accommodation. No surprise, there is a small increase in the median house price for Perth now at $544,000 with trade up buying activity beginning to make up more of the selling volume. We suspect the summer period will be the start of a marginal turn in the rental market back towards market parity.

KRISTY MOUNSHER

dethridgeGROVES would like to welcome Kristy Mounsher to the dG team. Kristy has recently started with dG’s as our Receptionist and will be taking the place of Corrine McMaster. Corrine has been a wonderful addition to the dG team and we wish her all the best as she continues her travels and adventures to the UK and Europe. Kristy brings with her a wealth of customer service experience and we believe you will enjoy chatting with her as much as we do. Her passion for yoga will inspire you.

If you have any questions or would like information on your property, please don't hesitate to contact us on 9336 1166.

Wishing you all the best for Spring
dethridgeGROVES Property Investment Services.
 

 

Living & supporting local

The Fremantle Festival is Australia's longest running festival. In its 109th year, the Festival runs from the 26th October – 9th November this year. Each year the community brings the Fremantle Festival to fruition by contributing to the program with over 100 different cultural events that run alongside annual festival events. The two week program includes plays, art exhibitions, performances, jazz, comedy shows, cake bakes, sailing races, the Wardarnji aboriginal cultural festival, a day of picnics and activities at the leisure centre, the opportunity to win Fremantle’s best verge, workshops, parades and delicious food stalls.  Fremantle will be a buzz of colour, energy and entertainment.


 
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