SPRING­ING INTO AC­TION

Melville Times - - 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.”

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