Latest news with #GavinHegney
ABC News
5 days ago
- Business
- ABC News
Money Matters: Interest rates are on hold, here's how you can move forward
Your panel of experts, Nick Bruining, Phil George, and Gavin Hegney share their two cents. 02:28 Is it the right time to reset the amount you are salary sacrificing into superannuation? Nick says if you earn a decent income and use salary sacrificing, it might be worth checking those numbers. 03:20 Could the 'wealth effect' (when people feel better off, spending increases) be the reason why the RBA decided to keep interest rates on hold? 15:16 Your house is a deprecating asset, but the land value is high. Should you renovate it before you sell, or should you save the money assuming a future buyer might knock it down anyway? Money Matters is your weekly guide to the world of finance, money and wealth. Every Thursday, an expert joins Nadia Mitsopoulos on ABC Radio Perth for a insights about personal finance issues and how they might affect you. Subscribe to the podcast through the ABC Listen App, Apple Podcasts or wherever you like to listen
Perth Now
12-07-2025
- Business
- Perth Now
The seven western suburbs where property prices are falling
House medians across a third of the western suburbs have dropped over the past year, following an astonishing run which almost doubled values in some suburbs after COVID hit. Research by Western Suburbs Weekly shows houses in seven of the 22 western suburbs have dropped in value by tens or hundreds of thousands of dollars in the last 12 months. But two thirds are continuing the gains, which have boosted household fortunes by up to millions of dollars since 2020. 'After 13 interest rate rises, people who took the risk (on property), contrary to all the thinking at the time, were handsomely rewarded,' property analyst Gavin Hegney said. Mr Hegney said prices drops across a third of the house market in the exclusive zone was a sign that markets do not move in uniform. He said patchy growth was common in boom markets, with highly competitive bidding amid low listings forcing some areas to jump in value faster than others, sometimes overshooting fair value. But he does not believe it is a sign that a bigger correction is about to hit, claiming there was still strong active and latent demand. 'If you listed a $2.5 million home in Cottesloe you would have 10 buyers for it, yet the statistics say the market is falling,' he said. Cottesloe, which is deemed the epicentre of the boom, has had the biggest cash slide — with a whopping $315,000 — or 10 per cent wiped from house values over the past 12 months to hit a median of $3.15m. Daglish houses, currently sitting at a median $1.43m, have had the biggest proportional slide, with a 14.8 per cent drop over the past year — or about $211,000. He said the top end of the market was exercising a bit of caution over geopolitical concerns and stock values. While the middle market was more affected by the jobs market and the first home buyer market was swayed by rental prices, the top end was more sensitive to matters that affected their wealth creation. Research by Western Suburbs Weekly shows some suburbs are continuing their stellar run of growth. Shenton Park has emerged the western suburbs price growth leader, with values up a stunning 97 per cent since 2020 to hit a median of $2.29 million, including 25 per cent over the past year. The suburb has been buoyed partly by the addition of the upmarket Montario Quarter estate to the local market. The next biggest post-COVID-era price jump was in City Beach, up 91 per cent over the past five years to hit a median of of $3.06m. Mr Hegney said the area had been undervalued by about 20 per cent before COVID hit, attributing much of the price growth to 'catch-up.' Research by Western Suburbs Weekly shows all markets have experienced double-digit gains over the past five years, but only eight in the exclusive area have outperformed the boom across Greater Perth, which has jumped 64 per cent since COVID hit. Some patches in the exclusive western triangle have substantially underperformed. Prices over the past five years in Crawley appear to have crawled, inching up only 22 per cent to $1.4 million. Nedlands has also been a relatively slow riser, up 37 per cent since 2020 to a median of $2.36 million. SEVEN WESTERN SUBURBS WHERE PRICES HAVE DROPPED: Daglish: 14.8 per cent down Claremont: 13 per cent down Cottesloe: 10 per cent down Dalkeith: 6 per cent down Peppermint Grove: 6.6 per cent down Jolimont: 2.5 per cent down North Fremantle: 3.2 per cent down
ABC News
27-06-2025
- Business
- ABC News
Money Matters: Your end-of-financial-year to-do list
Your panel of experts, Nick Bruining, Phil George, and Gavin Hegney share their two cents. 03:12 What the experts suggest doing at the end of the financial year (EOFY). 06:57 Your blue chip stocks are at an all time high. What should you do with them? 14:21 Capital gains tax, death and gifting. Money Matters is your weekly guide to the world of finance, money and wealth. Every Thursday, an expert joins Nadia Mitsopoulos on ABC Radio Perth for a insights about personal finance issues and how they might affect you. Subscribe to the podcast through the ABC Listen App, Apple Podcasts or wherever you like to listen
