IN­CREASE IN AC­TIV­ITY EX­PECTED FOR MAR­KET

Kalamunda Reporter - - Residential -

THE Perth prop­erty mar­ket can ex­pect a flurry of ac­tiv­ity over the next few months as more sell­ers en­ter the mar­ket.

His­tor­i­cally, spring is known as the sell­ing sea­son, and reiwa.com data shows that house list­ings in the Perth metropoli­tan area typ­i­cally surge in the Septem­ber quar­ter, drop­ping off over Christ­mas and Jan­uary, be­fore ris­ing again in au­tumn.

“If you go back over the past decade or so, it’s in­ter­est­ing that the most sales oc­cur in au­tumn, rather than spring, al­though the dif­fer­ence be­tween these two sea­sons is mar­ginal,” REIWA pres­i­dent Hay­den Groves said.

“It could be that school hol­i­days, AFL fi­nals and more long week­ends in spring con­trib­ute to the fewer sales, but it proves that broader eco­nomic con­di­tions and things like in­ter­est rates, wages growth and pop­u­la­tion growth lev­els play much more a part in sales ac­tiv­ity than the sea­sons do.

“That said, buy­ers are more in­clined to buy in spring when prop­er­ties are look­ing their best, and buy and be set­tled be­fore Christ­mas.”

While prop­erty list­ings start to lift in Septem­ber, reiwa.com data in­di­cates sales grow slowly, peak­ing in Novem­ber.

“New list­ings to mar­ket bring with them new buy­ers who take some time look­ing around at the list­ing stock be­fore mak­ing a buy­ing de­ci­sion,” Mr Groves said.

“With av­er­age sell­ing days at around 68 metro-wide, it fol­lows that new stock listed in Septem­ber is sold in Novem­ber when ven­dors are of­ten be­gin­ning to re­duce their ask­ing prices and sell­ing ex­pec­ta­tions to meet the mar­ket.”

With more list­ings on the mar­ket dur­ing spring, sell­ers face greater com­pe­ti­tion to at­tract a buyer and Mr Groves of­fered the fol­low­ing ad­vice to boost their chances of a quick sale. ■ En­sure your sell­ing ex­pec­ta­tions are in line with mar­ket sen­ti­ment and in ac­cor­dance with ex­pert opin­ion be­fore you list. ■ Per­haps con­sider sell­ing by auc­tion too, es­pe­cially if other prop­er­ties around you are listed by con­ven­tional means. ■ Try­ing a price range rather than a fixed ask­ing price is an­other op­tion. ■ Most im­por­tantly, make your home ‘sing’ by putting in the ex­tra ef­fort to present it at its very best. ■ En­sure your gar­den is im­mac­u­late, the paint and other finishes are up to the high­est stan­dards and min­imise clut­ter. ■ Ide­ally, move out and have the prop­erty pro­fes­sion­ally staged to en­sure your prop­erty stands out amongst oth­ers on the mar­ket.

Newspapers in English

Newspapers from Australia

© PressReader. All rights reserved.