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Dethridge Groves Real Estate

Fremantle's Preferred Agent Since 1979

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Welcome To DGRE

With over 44 years of service to the greater Fremantle community, Dethridge Groves Real Estate is your local expert in real estate sales and property management. Three-time REIWA award-winners in marketing and communications, DGRE has an expert team of real estate selling agents and property managers, led by former REIWA President Hayden Groves. DGRE is your preferred, trusted real estate partner, having sold and managed more homes in and around Fremantle than any other agency. Contact us today for your free market appraisal, property management services, market analysis and general real estate advice from the community’s leading agency.

Properties we think you'll love

"Simone took on the job of selling our one bedroom apartment and did so successfully with minimum fuss...."

"Leanne is great! Highly recommend her for her communications and professionalism."

Luke

"I haven't had great experiences with rental agents in the past, quite the opposite. So it was a breath..."

Keren

Latest News

Jun 19, 2024

Get Your Price Right

Fremantle’s property market continues its positive trajectory with short supply and solid demand. This current imbalance is keeping up property values as buyers continue to compete for the limited homes available throughout the area. FOMO enthusiasm gives rise to some ‘unicorn’ selling outcomes too, with seller expectations sometimes rising faster than market sentiment. The short supply means agents are desperate for listing stock and, unfortunately, one response to this market is for agents to offer ‘happy prices’ to would-be sellers, the aim being to secure the listing and hope the market ‘catches up’ during their period of authority. friends, lovers and others have their own opinions Additionally, emotional attachment often leads homeowners to believe their property is worth more than a market consensus of a fair price. Opinion of market value for property is largely a subjective exercise; various agents will have differing views of market price, and friends, lovers and others have their own opinions that influence would-be sellers. Sellers who have committed to another property at a higher-than-hoped price will also be pressured to sell their own home for more than the market might bear. The result can be price expectations that exceed market reality. In truth, the value of a property is not determined until a buyer is found, negotiations finalised and the contract for sale completed. The combination of market information, comparative property sales analysis, demand and supply levels, buyer activity and property presentation provide an insight into what fair market price might eventuate for a property, but what does the anticipated or listing price have to do with the final market price? In short, plenty. Statistics show that sellers that over-price their property lose money in the end. Sellers that allow their property to languish on the market due to unrealistic price expectations (either derived from themselves or an over-zealous agent) end up fighting against the buyer sentiment of a “stale” listing; a property that has been on the market for above average periods of time. Such properties are often simply over-priced and buyers will discount them because they think “there must be something wrong with it if no one has bought it.” Sellers that discount listing prices to sell will almost always end up selling for less than if they had a realistic market price expectation from the beginning. Sellers are well advised to take in professional advice from a local REIWA agent and form a considered, unemotional opinion of value based on facts, evidence and reputable market data....

Jun 13, 2024

Is the market too hot?

Thinking I should have heeded my own advice two years ago and bought real estate (which I foolishly did not), I enquired recently about a neat, two-bedroom duplex half in Rockingham advertised at $459,000. A little high, I thought, given it had sold three years’ earlier for $230,000. The agent informed me, she had received offers already - site unseen – for over $500,000, a gain of about 120%! Value gains of more than 33% per annum are generally unsustainable, but stories such as this are not uncommon in the current market. Meanwhile, broader economic conditions are posing some challenges, with the national economy slowing to an anaemic 0.1% for the March quarter, the worst quarterly performance in 24 years. Interest rates are not likely to come down anytime soon with March’s inflation at 3.6%, higher than hoped. The inflationary costs of fuel, rents and food are pressuring family budgets with household spending still on the rise as is credit card debt. We are more pessimistic too with a recent survey finding the percentage of people feeling optimistic about their personal future falling from 32% in July 2022 to 13.5% in February 2024. cost of living and housing affordability have been the two top issues Without the recent surge in migration levels, Australia would be in a technical recession. A recent survey of current and future concerns by Foresee Change, reveals cost of living and housing affordability have been the two top issues for Australians since October 2022. Issues like climate change and security of personal information have since dropped out of the top ten major issues of concern. With the economy faltering and pessimism rising, most property commentators would be predicting a significant slowdown in the housing market. So why not this time? Housing supply and the lack of it remains the core challenge of housing affordability and the primary factor behind the rapid rise in house prices locally. Our ‘lost decade’ of meaningful net value gains from 2010 to 2020 has deterred substantial investment in sufficient housing across WA. Meanwhile, there has been a significant rise in population growth, well exceeding forecasts of net migration of 90,000 per annum where actual migration gains from 2008 and 2019 was 225,000 annually. Despite the surge in population since 2007, dwelling approvals never exceeded 50,000 nationally in a quarter until the 2023 December quarter. Currently, we are running about 20,000 dwellings per quarter short of our national target to meet the federal government’s target of 1.2 million homes by mid-2029. At this rate we will miss the target by at least 400,000 dwellings. There is a sense of inevitability that local house prices will continue to rise due to the potent and enduring relationship between demand (through migration) and supply (the lack of it) irrespective of broader economic conditions. ...

May 29, 2024

New Laws Arrive

The state government has introduced its first tranche of tenancy law changes designed to further protect renters in the face of stubbornly low vacancy rates, rising rents and ongoing supply shortages. As national debate about the ‘housing crisis’ rages on, becoming more political by the day, the frustrations of those impacted by housing affordability constraint continues to rise. Thankfully, everyone agrees that the lack of housing supply goes to the heart of the problem of housing affordability, yet there is yet to be substantive, needle-shifting policies from our state or federal governments that has meaningfully focused on this core issue. So far, we’ve seen a series of back-slapping fringe policies that are either promissory or tinker around the edges. there’s no law against being a rude, vindictive narcissist For example, the federal government’s promise of building 1.2 million new affordable homes by 2029 came off the back of protracted negotiations with the Greens over the Housing Australia Future Fund; a political promise that sets a wildly ambitious construction target. Housing approvals over the past five years reached about 925,000 boosted by the HomeBuilder grants of 2020/21. The trajectory for new approvals is troubling for adding supply having fallen back (down 9.5% in December) sharply as construction material costs continue to rise, up 32.5% since 2020. Add to this rising inflation elsewhere in the economy, poor productivity, NIMBYism, high property taxes, planning constraints, lack of building innovation, higher interest rates and falling employment, we’ll miss the 1.2 million home target by miles. Meanwhile, our state government celebrates fringe policies such as the $5,000 landlord incentive for property owners who, after having their ‘extra’ property lay empty for six months, can claim the $5k for putting in a tenant. Our Treasurer reckons this could add an additional 1000 homes to the rental pool. Sorry, but anyone that can afford leave their investment property empty for six months, won’t be swayed by five grand. Other government actions around housing included changes to the Residential Tenancy Laws, two of which came into effect this week. Firstly, there is now a ban on ‘rent bidding’. This effectively means landlords and property agents are banned from encouraging tenants to “pay extra” to secure a rental home. Nor can properties be advertised at a “from” weekly rent. The intention is sound but in response, initial asking rents will rise to account for the competition in the market. Tenants can still offer more than the asking rent if they choose to. The second new law is referred to as the ‘retaliatory rule’ whereby a landlord cannot respond to reasonable requests from a tenant regarding property maintenance and other matters by not renewing the lease, for example. Some tenants can be unreasonable to deal with and there’s no law against being a rude, vindictive narcissist. It will be interesting to see how the new law deals with circumstances like this where the property owner seeks to not renew a lease on the grounds of their tenant being unreasonably difficult. There is no quick fix to the housing crisis, but every effort to add supply to the housing stock in an affordable way must be the priority....

May 10, 2024

More Edge Tinkering

The Cook government is trying to rebalance Western Australia’s rental market. There has been a flurry of affordable housing-related policy announcements recently to address surging rents and low vacancies. REIWA assesses Perth’s vacancy rate at 0.6 percent, a long way from a market parity 3.5 percent. The latest announcement aims to encourage property owners to convert their vacant homes into long-term rentals by offering a one-off $5,000 payment. Sorry to be cynical, but a property owner who can afford to leave their property vacant (Granny / Fonzie flats or vacant rooms are ineligible) for a period of longer than six months, doesn’t need a lazy $5,000 to convince them to lease it. The policy comes off the back of the recent Short Term Rental Accommodation (STRA) Incentive Scheme, which encouraged owners to convert their property from the short to long term market with a $10,000 payment. So far, 150 properties have converted their properties into the long-term market or a minute 0.05 percent of rented properties across WA. In announcing the latest policy, Premier Cook acknowledges the “significant demand for housing” and has committed to “leaving no stone unturned in our work to boost supply of homes.” Responsible Ministers shared the limelight with Treasurer Saffioti suggesting, “This initiative has the potential to bring up to 1,000 properties back onto the rental market.” Commerce Minister Ellery reckoned the STRA Incentive Scheme has been “a success” and Minister Carey (Planning and Housing) reflected on his government “continuing to think outside the box…to boost housing supply.” To give credit where credit is due, at least the government is doing something and, in this market, something is better than nothing. Unsophisticated private investors – ordinary West Australians – supply 27 percent of all homes to tenants, about 264,000 properties. Government supply about 3 percent. In this time of greatest need, with supply of rental homes at severe lows, these recent housing policies that seek to encourage the investor cohort into supplying more homes will barely scratch the surface. Meanwhile, big-ticket items that would significantly move the needle on supply are ignored. Stamp duty - where bracket creep means an investor tax of $27,000 at Perth’s median house price - and land tax rebates are obvious places to start. And why not (even temporarily) repeal the foreign investor tax where these buyers pay $76,000 in state tax when buying a $700,000 property? This group, very sensibly, choose to rent rather than pay the tax, soaking up valuable rental stock. Put simply, governments – supported by the media and tenancy advocates – have been busily whacking investors, whilst simultaneously failing to provide enough rental housing for West Australians as the only possible alternative to the private investor market. WA’s poor market performance in the years 2012-2020, has left our housing market underprepared for the surge in new arrivals and we’re playing catch up. There is time for meaningful reform to encourage investors into the market to add more supply and whilst relatively small cash incentives may tinker around the edges, they won’t make a meaningful impact....

Jun 19, 2024

Get Your Price Right

Fremantle’s property market continues its positive trajectory with short supply and solid demand. This current imbalance is keeping up property values as buyers continue to compete for the limited homes available throughout the area. FOMO enthusiasm gives rise to some ‘unicorn’ selling outcomes too, with seller expectations sometimes rising faster than market sentiment. The short supply means agents are desperate for listing stock and, unfortunately, one response to this market is for agents to offer ‘happy prices’ to would-be sellers, the aim being to secure the listing and hope the market ‘catches up’ during their period of authority. friends, lovers and others have their own opinions Additionally, emotional attachment often leads homeowners to believe their property is worth more than a market consensus of a fair price. Opinion of market value for property is largely a subjective exercise; various agents will have differing views of market price, and friends, lovers and others have their own opinions that influence would-be sellers. Sellers who have committed to another property at a higher-than-hoped price will also be pressured to sell their own home for more than the market might bear. The result can be price expectations that exceed market reality. In truth, the value of a property is not determined until a buyer is found, negotiations finalised and the contract for sale completed. The combination of market information, comparative property sales analysis, demand and supply levels, buyer activity and property presentation provide an insight into what fair market price might eventuate for a property, but what does the anticipated or listing price have to do with the final market price? In short, plenty. Statistics show that sellers that over-price their property lose money in the end. Sellers that allow their property to languish on the market due to unrealistic price expectations (either derived from themselves or an over-zealous agent) end up fighting against the buyer sentiment of a “stale” listing; a property that has been on the market for above average periods of time. Such properties are often simply over-priced and buyers will discount them because they think “there must be something wrong with it if no one has bought it.” Sellers that discount listing prices to sell will almost always end up selling for less than if they had a realistic market price expectation from the beginning. Sellers are well advised to take in professional advice from a local REIWA agent and form a considered, unemotional opinion of value based on facts, evidence and reputable market data....

Jun 13, 2024

Is the market too hot?

Thinking I should have heeded my own advice two years ago and bought real estate (which I foolishly did not), I enquired recently about a neat, two-bedroom duplex half in Rockingham advertised at $459,000. A little high, I thought, given it had sold three years’ earlier for $230,000. The agent informed me, she had received offers already - site unseen – for over $500,000, a gain of about 120%! Value gains of more than 33% per annum are generally unsustainable, but stories such as this are not uncommon in the current market. Meanwhile, broader economic conditions are posing some challenges, with the national economy slowing to an anaemic 0.1% for the March quarter, the worst quarterly performance in 24 years. Interest rates are not likely to come down anytime soon with March’s inflation at 3.6%, higher than hoped. The inflationary costs of fuel, rents and food are pressuring family budgets with household spending still on the rise as is credit card debt. We are more pessimistic too with a recent survey finding the percentage of people feeling optimistic about their personal future falling from 32% in July 2022 to 13.5% in February 2024. cost of living and housing affordability have been the two top issues Without the recent surge in migration levels, Australia would be in a technical recession. A recent survey of current and future concerns by Foresee Change, reveals cost of living and housing affordability have been the two top issues for Australians since October 2022. Issues like climate change and security of personal information have since dropped out of the top ten major issues of concern. With the economy faltering and pessimism rising, most property commentators would be predicting a significant slowdown in the housing market. So why not this time? Housing supply and the lack of it remains the core challenge of housing affordability and the primary factor behind the rapid rise in house prices locally. Our ‘lost decade’ of meaningful net value gains from 2010 to 2020 has deterred substantial investment in sufficient housing across WA. Meanwhile, there has been a significant rise in population growth, well exceeding forecasts of net migration of 90,000 per annum where actual migration gains from 2008 and 2019 was 225,000 annually. Despite the surge in population since 2007, dwelling approvals never exceeded 50,000 nationally in a quarter until the 2023 December quarter. Currently, we are running about 20,000 dwellings per quarter short of our national target to meet the federal government’s target of 1.2 million homes by mid-2029. At this rate we will miss the target by at least 400,000 dwellings. There is a sense of inevitability that local house prices will continue to rise due to the potent and enduring relationship between demand (through migration) and supply (the lack of it) irrespective of broader economic conditions. ...

May 29, 2024

New Laws Arrive

The state government has introduced its first tranche of tenancy law changes designed to further protect renters in the face of stubbornly low vacancy rates, rising rents and ongoing supply shortages. As national debate about the ‘housing crisis’ rages on, becoming more political by the day, the frustrations of those impacted by housing affordability constraint continues to rise. Thankfully, everyone agrees that the lack of housing supply goes to the heart of the problem of housing affordability, yet there is yet to be substantive, needle-shifting policies from our state or federal governments that has meaningfully focused on this core issue. So far, we’ve seen a series of back-slapping fringe policies that are either promissory or tinker around the edges. there’s no law against being a rude, vindictive narcissist For example, the federal government’s promise of building 1.2 million new affordable homes by 2029 came off the back of protracted negotiations with the Greens over the Housing Australia Future Fund; a political promise that sets a wildly ambitious construction target. Housing approvals over the past five years reached about 925,000 boosted by the HomeBuilder grants of 2020/21. The trajectory for new approvals is troubling for adding supply having fallen back (down 9.5% in December) sharply as construction material costs continue to rise, up 32.5% since 2020. Add to this rising inflation elsewhere in the economy, poor productivity, NIMBYism, high property taxes, planning constraints, lack of building innovation, higher interest rates and falling employment, we’ll miss the 1.2 million home target by miles. Meanwhile, our state government celebrates fringe policies such as the $5,000 landlord incentive for property owners who, after having their ‘extra’ property lay empty for six months, can claim the $5k for putting in a tenant. Our Treasurer reckons this could add an additional 1000 homes to the rental pool. Sorry, but anyone that can afford leave their investment property empty for six months, won’t be swayed by five grand. Other government actions around housing included changes to the Residential Tenancy Laws, two of which came into effect this week. Firstly, there is now a ban on ‘rent bidding’. This effectively means landlords and property agents are banned from encouraging tenants to “pay extra” to secure a rental home. Nor can properties be advertised at a “from” weekly rent. The intention is sound but in response, initial asking rents will rise to account for the competition in the market. Tenants can still offer more than the asking rent if they choose to. The second new law is referred to as the ‘retaliatory rule’ whereby a landlord cannot respond to reasonable requests from a tenant regarding property maintenance and other matters by not renewing the lease, for example. Some tenants can be unreasonable to deal with and there’s no law against being a rude, vindictive narcissist. It will be interesting to see how the new law deals with circumstances like this where the property owner seeks to not renew a lease on the grounds of their tenant being unreasonably difficult. There is no quick fix to the housing crisis, but every effort to add supply to the housing stock in an affordable way must be the priority....

May 10, 2024

More Edge Tinkering

The Cook government is trying to rebalance Western Australia’s rental market. There has been a flurry of affordable housing-related policy announcements recently to address surging rents and low vacancies. REIWA assesses Perth’s vacancy rate at 0.6 percent, a long way from a market parity 3.5 percent. The latest announcement aims to encourage property owners to convert their vacant homes into long-term rentals by offering a one-off $5,000 payment. Sorry to be cynical, but a property owner who can afford to leave their property vacant (Granny / Fonzie flats or vacant rooms are ineligible) for a period of longer than six months, doesn’t need a lazy $5,000 to convince them to lease it. The policy comes off the back of the recent Short Term Rental Accommodation (STRA) Incentive Scheme, which encouraged owners to convert their property from the short to long term market with a $10,000 payment. So far, 150 properties have converted their properties into the long-term market or a minute 0.05 percent of rented properties across WA. In announcing the latest policy, Premier Cook acknowledges the “significant demand for housing” and has committed to “leaving no stone unturned in our work to boost supply of homes.” Responsible Ministers shared the limelight with Treasurer Saffioti suggesting, “This initiative has the potential to bring up to 1,000 properties back onto the rental market.” Commerce Minister Ellery reckoned the STRA Incentive Scheme has been “a success” and Minister Carey (Planning and Housing) reflected on his government “continuing to think outside the box…to boost housing supply.” To give credit where credit is due, at least the government is doing something and, in this market, something is better than nothing. Unsophisticated private investors – ordinary West Australians – supply 27 percent of all homes to tenants, about 264,000 properties. Government supply about 3 percent. In this time of greatest need, with supply of rental homes at severe lows, these recent housing policies that seek to encourage the investor cohort into supplying more homes will barely scratch the surface. Meanwhile, big-ticket items that would significantly move the needle on supply are ignored. Stamp duty - where bracket creep means an investor tax of $27,000 at Perth’s median house price - and land tax rebates are obvious places to start. And why not (even temporarily) repeal the foreign investor tax where these buyers pay $76,000 in state tax when buying a $700,000 property? This group, very sensibly, choose to rent rather than pay the tax, soaking up valuable rental stock. Put simply, governments – supported by the media and tenancy advocates – have been busily whacking investors, whilst simultaneously failing to provide enough rental housing for West Australians as the only possible alternative to the private investor market. WA’s poor market performance in the years 2012-2020, has left our housing market underprepared for the surge in new arrivals and we’re playing catch up. There is time for meaningful reform to encourage investors into the market to add more supply and whilst relatively small cash incentives may tinker around the edges, they won’t make a meaningful impact....