Posted on: July 16, 2022 Posted by: Hotel Transylvania Comments: 0

A dilapidated Perth property selling for $800,000 with a strangely unique ceiling has begun to make waves in the suburb of Rivervale.

A dilapidated Perth property with dozens of light switches plastered to the ceiling has begun to make waves in the suburb of Rivervale.

The home, resembling something of a haunted house, is located at 83 Surrey Road and currently fetches $250 a week in rent.

Listing agent Sarah Highlands from Laurie Kelly Real Estate told PerthNow the owner used the switches to “pin” the deteriorating roof.

The block has been put on the market for $799,000.

The house was described as a “free 1946 cottage” in the listing.

A tenant is currently renting out the property and reportedly “loves” the quirky cottage’s bizarre features, according to Ms Highlands.

In a report released last week, Adelaide, Brisbane and Perth were the only major mainland capitals to record increases in house prices, going up by 5.1 per cent, 2.5 per cent and 2.2 per cent respectively.

Western Australia’s real estate institute (REIWA) president, Damian Collins, said Perth house prices were continuing to rise moderately after a slow period of growth.

“Perth has grown about 6% or so over the last 12 months, which has been certainly far lower than Adelaide and Brisbane in particular, and Sydney anf Melbourne obviously are turning the other way and going backwards,” Mr Collins said.

“We’ve certainly been probably the slowest growing major capital city in the last two years out of all of Sydney, Melbourne, Brisbane, Perth, Adelaide and Hobart.

“But that certainly gives us confidence that we’re still got a bit of growth to go.

“Certainly the interest rate changes have yet to have any impact in Perth.”

A prominent real estate industry figure this week revealed he is “really stressed” after “almost no buyers” showed up to auctions over the weekend in the wake of the Reserve Bank’s third interest rate hike in three months.

Auctioneer Tom Panos has called on the RBA to consider the impact of its aggressive rate hikes on the real estate market, which continued to fall last month led by declines in Sydney and Melbourne.

In a video on Saturday, Mr Panos said he had six auctions that day and only sold one.

“So I was zero out of five till the auction I did this afternoon at 3.30pm in Five Dock,” he said. “I must say to you, the first five auctions were quite sad in the sense that pretty much the only people that were there were the agents and the vendors. I pretty much had no one register throughout the day.”

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