From the desk of the Managing Director
WELCOME TO ACTON!
Overall it’s been a positive year for the real estate market. The improving trend we noticed in October
2011 continued on through 2012, with sales getting stronger and stronger and some outstanding
results recorded.
The Spring selling season got off to a great start,
with ACTON recording strong results for September
and the September quarter. September sales were
80 percent higher than the same month last year,
while sales for the quarter were 59 percent higher
than the 2011 September quarter. It was the
strongest September quarter since 2009, and the
highest performing quarter of this year.
The strong sales continued into October, with
the Group posting the highest monthly result for
the year. Coincidentally October 2011 recorded
the highest results for 2011 and while that was a
strong showing, sales for October 2012 were 34
percent higher. At the time of writing November’s
sales are also looking good. We do expect the
traditional slow down over the Festive Season, but
I feel very positive about the market for 2013.
This expectation is based on:
• The reduction of stock available over the
course of the year. Stock is currently sitting
around 11,000, down from nearly 15,000
late last year and just over 14,000 in the
March 2012 quarter.
• The increase in sales ACTON have seen in
2012. Sales are up significantly on previous
years and monthly performances have been
strong and consistent across the Group.
• Properties priced for the market are selling
in a shorter time frame and there are more
reports of properties selling within a day or
two of listing.
• There is less discounting, with the selling
price becoming closer to the asking price.
• Returning confidence is highlighted by
auction activity. Since July ACTON have been
listing more auctions and more properties
are selling under the hammer or prior to
auction day.
•
•
•
•
There has been a lot of talk about properties
under $500,000 selling quickly, which is
true, but we are now seeing a recovery at the
top end of the market as well.
Most pundits are predicting further interest
rate cuts. Rates will remain low, increasing
affordability and confidence in 2013.
We have the nation’s top economy in
Western Australia and market confidence
continues to grow. There are a host of
projects being undertaken at present (such as
redevelopment in East Perth, Great Eastern
Highway widening, Elizabeth Quay, the
Fiona Stanley Hospital plus numerous other
developments) that will keep the economy
ticking along.
We have the strongest population growth in
the country and this will continue the demand
for housing for both owner-occupied and
rentals.
ACTON’s expansion continues
Since June we have opened three new offices
across Perth and in this issue we welcome ACTON
Victoria Park (a larger story is featured later in the
magazine). We are finishing the year on a high
note with another new Region set to open before
Christmas.
The ACTON Group wishes everyone a joyous and
safe Christmas and a prosperous and peaceful
New Year.
Graeme Baxter
Managing Director
WWW.ACTON.COM.AU