UNITS ARE NOW SELLING ALMOST AS QUICK AS HOUSES

 The article that has popped up in The West Australian today:

The Real Estate Institute of WA said houses sold in a median of eight days in February, while units sold in a median of nine days. 

Credit: Adobe Stock/Paul Bradbury/Caia Image - stock Demand for housing is shifting to units, which are now selling almost as quickly as houses. 

 The Real Estate Institute of WA said houses sold in a median of eight days in February, while units sold in a median of nine days. 

 A year ago, units took 22 days to sell, while houses took only 13 days to find a new owner. The number of days on market fell to 10 for most of 2023. 

 REIWA chief executive Cath Hart said houses were the traditional preference, but those priced out of the market were now turning to units and apartments. 

 “House prices have risen strongly in recent years, while units have remained relatively stable,” she said. 

 “This makes units a more affordable option for people seeking home ownership, particularly first home buyers or tenants looking to escape the rental roundabout.

 The growing demand for units is putting pressure on prices, with the median unit sale price increasing 1.2 per cent in January and 3.8 per cent higher year-on-year. 

 And there looks to be some significant upside ahead, with real estate guru https://thewest.com.au/news/wa/house-that-units-are-now-selling-almost-as-quickly-as-houses-in-perth-c-13780241 Page 1 of 2 House That: Units are now selling almost as quickly as houses in Perth | The West Australian 1/3/2024, 10:26 am Gavin Hegney recently forecasting units were 25 per cent undervalued, based on comparisons with the Adelaide market. 

 A separate report out on Thursday from PropTrack, shows Perth home prices rose for the 19th consecutive month to a fresh peak in February, with the new median now sitting at $651,000.

 The report said Perth remained the strongest capital city property market, with home prices increasing 0.56 per cent month-on-month and 16.32 per cent annually. Regional WA experienced a 0.08 per cent in increase to hit a fresh peak of $484,000.

(Still under valued I believe) these reports are 3 months behind everything.

As previously stipulated units are moving along already so if you are in the market then make your move.

MAKE YOUR OWN DECISIONS AND GIVE IT A REAL GO!!

SELLING MOSMAN PARK & THE WESTERN SUBURBS!!

KEEPING IT REAL IS OUR MOTTO!!