Snapshot of the market…..
by Annette Rolt
The Perth property market is running low on homes to sell as it heads into our traditionally busy Autumn period, putting price rises on the horizon…..
Warmer weather has historically seen people wanting to sell or buy property and as we have had a relatively sluggish market for the last three years its predicted this Summer/ Autumn has and will be our best for some time.
In general, activity increases by about one third during the Summer/Autumn Time so get ready for sales to be up in the next few months.
This year has already been busier than seen for many years so sales will be up dramati- cally as properties come onto the market. Unlike last year however, we do have a shortfall of properties listed for sale in the area and an increasingly growing database of very eager buyers.
Current buyers are very focused on the cost of living, so proximity to facilities and transport and the ability to run the home as cheaply as possible are in demand.
Requests for workshop, side access, room for vegie gardens and pools is up, especially on the larger plots of land in our area.
We have had quite a substantial amount of enquir- ies from investors who are poised to buy.
Buyer confidence in property is returning and there’s broad expectation that now is the time to buy with many favouring the stability of bricks and mortar and seeking long-term capital growth.
The majority of investors are planning to buy some- thing priced between $350,000 and $450,000.
First time investors are being more cautious and looking to spend in the lower end of that range. Which is also where many first home buyers are looking as well.
Many of our first home buyers are looking for air- conditioning, side access and workshop or room for one and also room for the pool.
Another interesting factor adding value to your property, is the government school catchment area you fit into.
With governments publicizing everything from NAPLAN to WACE results, school results are affecting parents choices in loca- tion for their new home purchase.
A good school is usually among the top three considerations for buyers these days. The water-based lifestyle we have here in our area is very popular with families and this has become quite obvious with the FIFO workers buying in WA.
After taking quite a hit in the global financial crises, this area is showing signs of a proper- ty market comeback and FIFO workers are helping it on its way.
Aside from the regions lifestyle attractions and transport links to Perth via road and rail, it has a strong support base for families.