In comparison to the same time last year where we saw an average of 43 days on market, that is an almost 4 week reduction, and there is more good news for sellers, the latest CoreLogic data shows that the Perth value index lifted 1.8% in March, making it the 7th consecutive month that it has improved with no signs of slowing.
Speaking with Jeanette Bates of Realmark North Coastal, she added, “the Perth market is a seller haven at the moment. With properties selling in record time frames with increased value. But we must note that this is well overdue in Perth, the market was due to turn, it has just done so a little quicker than expected. Sellers need to be aware of the market conditions and speak to their Agent on a selling method that will ensure they are not undersold in haste. In our office, we have seen record pricing being made with the correct selling methods and marketing. Our Agents are well versed on methods and strategies that deliver results for our clients, and in particular, what we are seeing in the current climate, where there is a great volume of interest, is increased written offers and multiple parties to communicate with.”
But it isn’t just good news for sellers, it is also great news for investors with the Perth rental market seeing leasing activity increase 15.6% according to reiwa.com.au. the median rental price increased at a value of $40 per week over the past year.
Jeanette added, “we have seen an increasing demand of rental properties, they are snapped up in days with some bringing in double-digit applications. Stock in the market is sitting at an all-time low”
Reiwa.com.au echoed Jeanette's sentiment with the latest statistics showing properties leasing in an average of 19 days, 9 days quicker than the same time last year and the fastest since June 2013.
Whether you are looking for an Agent to ensure you are not undersold or a property management team to get you the best return for your investment, contact the Realmark North Coastal team today, visit northcoastal.realmark.com.au