WA real estate: Perth property experts explain what industry phrases really mean

You have probably heard many of the cliches bandied about the real estate industry, but do they ring true?

Perth experts take a closer look at some of the phrases that we know so well.


Explaining this adage, Momentum Wealth managing director Damian Collins said it was far more important to get into the market to make money in real estate than to focus on buying at the perfect low point in an economic cycle.

“Everyone would have liked to have purchased a property in October 2019; that turned out to be the low point in the last property cycle,” he said.

“Since then, despite COVID-19, high inflation, the war in Ukraine and everything else, Perth residential prices are up almost 27 per cent.

“That doesn’t mean there aren’t significant returns still remaining over the long run, particularly in a market like Perth where our median house price is the cheapest capital city of any state and about $1 million less than Sydney.”

Mr Collins said it was important to always consider market conditions and be more cautious if there was a recent significant increase.

“However, no one can say exactly when a market will peak or trough,” he said.

“I’ve seen many people sit and wait for the ideal conditions that usually never come.

“Far more money has been lost by trying to time the market than has been lost by getting in at the wrong time.”


Harcourts WA chief executive Shane Kempton said kitchens and bathrooms were big selling points for most owner occupier homebuyers, especially off the back of COVID-19 when many owners renovated these areas.

“Kitchens are often the centre stage for conversations with family, friends and the occupants of a home,” he said. “Having a welcoming and inviting kitchen creates a sense of belonging — a key human desire.

“Bathrooms are both your private space to indulge in some peace and quiet, and an opportunity to showcase the quality of your home to visitors.

“Couple all this with the knowledge of the investment it takes to create a beautiful space in these rooms and this cliche often proves true.”

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