January 08, 2014
While most took the Christmas period to take some time off and relax, many in Perth, it appears, were looking at property...
Between Christmas Eve and the weekend after New Years ( there is only 5 business days in that period) our office had 16 property transactions occur.
Be it a purchase or a sale or even both in some cases it certainly looks like 2014 is going to be a busy year for Perth property.
I myself was looking to offload a property and after my agent convinced me to put it up for sale on Christmas Eve, I had a great present from Santa with two offers on Boxing Day! My home was all signed and sold by the following day.
Perth house prices grew just under 10% last year with some suburbs seeing growth at almost 40%. After some dull years of property growth following our boom in 2006/07 it is a welcome sign for existing home owners and investors.
All of our Real Estate partners are telling us they are flat out and many are reporting homes selling before the first home open and selling prices at or above asking price.
Sadly the media likes to jump on these stats and raise concern about affordability and over-heating but if we all consider some influencing factors like historically low rates, poor growth for the past 2-3 years particularly and most economists predicting conservative to good growth in 2014 I’m sure most will agree 2014 is going to be a great year for Perth.
With this high level of activity in the market only the most prepared will succeed. So make sure your home is presented well and choose the right agent if you are selling OR making sure your finance is ready to go if you are buying will only make your bid look more attractive in 2014. Good luck!