HOUSE PRICES IN LARGER CAPITAL CITIES WILL KEEP GOING

 Domain's latest price forecast report has revealed that the price growth for houses across the capital cities will accelerate with the Reserve Bank of Australia's two interest rate cuts positioning nationwide house prices to rise up to 6% by the end of FY26. (this is what was reported, how they can do that predication is amazing as no one has the crystal ball).

Lower interest rates, cheaper borrowing and targeted support for the first home buyers will keep the price rising (demand will do that). Sydney & Melbourne are more sensitive to rate changes (yes because they are more expensive than Perth)

Perth is definitely a different beast from Sydney & Melbourne, yes, our prices have increased, and the demand is high (supply very low) so we will still enjoy increases whilst that is happening.

I am not convinced with the interest rate drops that it will alter the buyers bottom line, I personally think that they are stretching themselves already to try and get into the Western Suburbs.

The Western Suburbs is now for the first home buyers only available to the apartments (older ones) or villas and in some cases, they are now up into the $900k+ which is becoming to expensive for them.

Domain's data showed that Perth's house prices will notch up 6% growth to $982,000 (now villa prices) by the end of FY26 which will position the city to reach the million-dollar club by the end of 2026. (hate to say this but there isn't a house in the Western Suburbs at that price it's more like $1,600,000 for a very average home. Villas are now in the $950k+ bracket and one bedrooms $400k two bedrooms from $550k.

Despite what you are reading no one knows the market - or the suburb you are trying to buy in as the local agent, if you have a good relationship that is always the person you should be talking to - especially a straight shooter like Vivian's.

No one will ever pick the bottom or the top of the market the point is that if you need to buy you need to get your finance all sorted and be competitive and do not say to yourself that I am going to wait until the market drops - its not dropping in the near future.

Too many people have decided Perth is their destination and there is not enough building going on to give us more stock to sell so it's going to be tight for the foreseeable future.

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

SELLING MOSMAN PARK & THE WESTERN SUBURBS!!

KEEPING IT REAL IS OUR MOTTO!!