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Perth Property Market Review

In October 2016, we ran an article looking at a snapshot of the Perth Property Market, commenting
on aspects of the market snapshot. Given many of our customers have an interest in the Perth
residential real estate market, we thought it would be interesting to do a comparison exactly one
year later and see what's changed. Here’s what we found:

Listings

  • Of significant interest, one year ago there were 14,494 properties listed in the Perth
    residential real estate market.
  • Right now, we note this figure has decreased by 1,034 to 13,453. That's a 7.13% decrease
    on listings!

Sales

  • A year ago, we saw a total of 551 metropolitan properties sold in the previous 4 weeks.
  • In the last 4 weeks, 596 properties had sold. That's a 7.55% increase in sales!

These two indicators, which show more sales and a decrease in listings, are certainly very
positive signs for the Perth residential real estate market. While these figures are clearly a long way
from the boom times, it's encouraging to see such positive market improvements come through in
the official statistics.

Local real estate agents across a number of suburbs have reported noticeable increases in numbers
at their home opens and increases in purchaser enquires in general, which supports the most recent
REIWA statistics.

Too often when listening to the media we hear statistics quoted which are for the whole of Australia and don't always reflect the Perth market. Of recent times, we constantly hear about the Sydney market and the likelihood of values ‘coming off’, but unless you are looking to buy or sell in Sydney, this information does not directly relate to those in Perth.

Based on the REIWA statistics, the Perth market looks far more positive!

For many of our local customers, you may be thinking about your own property goals and wondering
if now is a good time to buy, sell, renovate, build, purchase a holiday home or investment property,
upsize or downsize. These are all important decisions as your home is often your biggest asset.
If you are looking to do something - anything - please give us a ring on 08 9381 8311.

We are happy to listen to your future plans and assist you in determining how much you can borrow
or simply be a sounding board for your ideas. Whilst we cannot predict which way the market will go from here, we can assist with advice so you know what you can and can't do. We can even assist
you in obtaining a finance pre-approval so that you can step forward with confidence, understanding your options for any intended purchase.

Let us do the heavy lifting to qualify you for finance for your next real estate purchase.