FIRST QUARTER DONE FOR 2021

 Wow! Just like that we are one quarter through 2021! So far so good on the COVID-19 front but we must stay vigilant as it doesn’t take much for cases to spread widely and fast.

Since our last quarterly update at the start of 2021, we have noticed that, for the most part, stock levels continued to reduce below 8,000 listings available (levels which have not been seen for a long time in Perth) as the amount of demand still far exceeded the amount of stock for sale. Heading into April we have seen stock levels rise again above 8,000 as we knew of a few people who were waiting for the rent moratorium to end in order to move tenants on and sell or find a rental, so they had somewhere to go.

We do anticipate in the coming quarter that more stock will come onto the market but this does not mean properties will last, as demand is expected to also increase along with supply. The mining sector remaining strong, and the Labour government dominating the election, are positive indicators that the WA economy is strong and confident on where this state is heading for the next four years. Our population growth has been the major driver for everything becoming more expensive as Perth recorded a 1.8% increase just in the Perth metro which has been far more aggressive than what we expected.

Our advice for sellers is to make sure you are considering all of your options during these times of buoyancy. Just because there are a lot more buyers within the marketplace does not mean that now is the time to not invest when it comes time to sell your property. We have seen that vendors who invest heavily on marketing and presentation are attracting far more buyers which naturally increases the demand for their property. Please make sure you keep this front of mind when you are thinking about selling.

Our advice for buyers remains largely the same as before, speak to your bank manager or mortgage broker first and understand what your comfortable range of borrowing is, narrow down to 5 suburbs maximum on where you want to live and shop within that range. With a bit more stock anticipated to be returning to the market within the next few months you should have some more options avail themselves but as stated above be ready to move on them straight away and make decisions if you like it.

For any assistance please feel free to contact us.

Stay safe.

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

SELLING MOSMAN PARK & THE WESTERN SUBURBS!!

KEEPING IT REAL IS OUR MOTTO!!