Weekend Courier - - Driveway -

CON­FI­DENCE is re­turn­ing to the prop­erty mar­ket with ma­jor agen­cies re­port­ing an in­crease in in­quiries from peo­ple con­sid­er­ing selling.

LJ Hooker WA re­gional man­ager Ken Pre­ston said when there were sug­ges­tions of a turn­ing mar­ket, home own­ers be­came ea­ger to find out what their prop­erty could fetch in the chang­ing en­vi­ron­ment.

“There’s been a feel­ing that the mar­ket may be trend­ing up­ward and that proved to be the case in the last quar­ter of 2017, where Perth’s me­dian house price rose for the first time in sev­eral years, al­beit mod­estly,” he said.

“The days prop­er­ties are spend­ing on the mar­ket are tight­en­ing and the in­quiries our of­fices are re­ceiv­ing are up about 16 per cent com­pared to the start of 2017.”

Har­courts WA chief ex­ec­u­tive Paul Blake­ley said the group had seen an in­crease in ap­praisals in the De­cem­ber quar­ter 2017, up 32 per cent on av­er­age on the Septem­ber quar­ter.

“We are def­i­nitely see­ing move­ment in the mar­ket,” he said.

“Har­courts WA has also had an in­crease in listings by 9.8 per cent in the De­cem­ber quar­ter, up from the Septem­ber quar­ter, and writ­ten sales in­creased by 13.2 per cent over the same pe­riod.”

Raine & Horne gen­eral man­ager WA Craig Ab­bott said fig­ures from in­dus­try bod­ies were in­di­cat­ing that the mar­ket had reached the bot­tom of the cy­cle.

“Ear­lier this month, in­vest­ment bank AMP Cap­i­tal said Perth prop­erty mar­ket val­ues have bot­tomed and REIWA fig­ures show the num­ber of prop­er­ties for sales is an av­er­age of 7 per cent lower than in Jan­uary 2017,” he said.

“Our of­fices have seen the num­ber of ap­praisals rise by 10 per­cent in the last quar­ter of 2017, which in­di­cates that more own­ers have re­solved to find out about the value of their prop­er­ties with a pos­si­ble view to a sale later this year.”

Mr Ab­bott said own­ers now had a per­fect storm of price sup­port and less com­pe­ti­tion from other prop­er­ties.

In­creased in­quiry from sell­ers was be­ing seen across Perth.

Mr Pre­ston said there was a lot of in­ter­est from peo­ple want­ing to know the worth of their homes and apart­ments in the north­ern cor­ri­dor be­tween But­ler and Two Rocks.

“Down the coast, there’s been a lot of cu­rios­ity in Clark­son, and also in Mirra­booka and Joon­dalup,” he said.

“We’re also find­ing in­ter­est in Mid­land and Kala­munda where the mar­ket has been per­form­ing well as the pop­u­la­tion has been spread­ing out, and in the south­ern sub­urbs there’s been a lot of in­ter­est in the up­grader mar­ket as well in Thorn­lie, Cock­burn and Leem­ing.”

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