Perth real estate hit the bottom of the market in 2020 and all the indicators are showing that we are now experiencing steady growth in the rental and sales market. We have not seen that dare I call it a boom since 2013 approximately.
Covid certainly put everyone into a tail spin, I suppose its about all the uncertainity that everyone was feeling but that is now starting to be a distant memory in a lot of buyers minds right now.
The sales activity in Perth at the start of the year was approximately 2,900 transactions per month, now we are seeing nearly 4,200 transactions per month.
Also we are now experiencing an all time low as we have just over 10,000 listings available which will put a lot of pressure on the prices.
Multiple offers are coming in (mainly houses I am talking about) and quite often they will be thousands over the asking price.
Some buyers are still struggling with the very quick change of the market but they now dont have that luxury of having the time to think about the property if they like it they have to go for it.
With money being so cheap to borrow right now buyers would be thinking its better to buy than to rent at the moment. (Rents are on the rise without a doubt)
2021 is shaping up for property price increases without a doubt there is no denying that.
If you are thinking of selling we would like to talk to you about a strategy to maximise your dollars.
If you are a buyer please give us a call and give us your wish list and get on our buyers list for an early bird notification of new listings.
MAKE YOUR OWN DECISIONS AND GIVE IT A REAL GO!!
SELLING MOSMAN PARK & THE WESTERN SUBURBS!!
KEEPING IT REAL IS OUR MOTTO!!
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