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“There’s no warranty on anything, not even the light bulbs, so bring your tool kit and a can-do attitude. This house is perfect for DIY enthusiasts, the brave or those with a really strong creative imagination,” he said.
Swartz said a similar home will be listed in a few weeks and he also expects this one to sell quickly.
REIWA CEO Cath Hart said despite recent REIA Housing Affordability Report It shows the proportion of household income needed to service a loan in Western Australia rose by 1 percentage point over the quarter.
This is up 3.6 percentage points from the previous year to 37.8 per cent, based on a median weekly household income of $2,612 and an average monthly loan repayment of $4,277.
Mr Hart said the suburb of Armadale was one of Perth’s most affordable suburbs.
“The median house price in Armadale has increased by 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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“However, the number of transactions is only 7.7% lower than the same period in 2023 and 6.6% higher than in 2022 – when interest rates and house prices were lower.”
Hart said that although house prices have risen, people still have demand for real estate and still have the purchasing power.
“But that doesn’t mean there aren’t challenges for many buyers, especially those on lower incomes,” she said.
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