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“There’s no warranty on anything, not even the light bulbs, so bring your toolkit and a can-do attitude. This house is perfect for DIY enthusiasts, brave souls, or those with a very creative imagination,” he said.
Swarts said a similar home would go to market in a few weeks, and he also expected that to sell quickly.
REIWA chief executive Cath Hart said sales activity remained strong despite the latest REIA Housing Affordability Report showing the proportion of family income required to meet loan repayments in WA rose 1 percentage point over the quarter.
It is up 3.6 percentage points over the year to 37.8 per cent, based on a median weekly family income of $2612 and average monthly loan repayment of $4277.
Hart said suburbs in the City of Armadale were some of the cheapest in Perth.
“Armadale’s median house price has increased 38.5 per cent in the last year and 57.9 per cent since May 2022 to $450,000,” she said.
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“Yet the number of settled sales is just 7.7 per cent below the same time in 2023 and 6.6 higher than 2022 – when interest rates and house prices were lower.”
Hart said prices were rising, but there was an appetite for property and people still had the capacity to buy.
“That doesn’t mean it’s not challenging for many buyers, particularly those on lower incomes,” she said.
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