What’s making news at ACTON!
WHAT A YEAR IT’S BEEN
2012/2013 has been a fantastic year for the
ACTON Group. The market made some massive
improvements over the year and we welcomed
several new offices - ACTON Coogee, ACTON
Victoria Park, ACTON South East and ACTON
Carine Glades. Our expansion is set to continue
with the opening of a new office in the southern
suburbs in the next few months.
Auctions have played a greater role in the market
this year, with ACTON seeing an increase of
63.87 percent in the number of sellers using the
auction process. The demand for properties was
highlighted in the number of properties being
sold prior to auction (23.40 percent), with buyers
deciding they didn’t want to risk waiting for the
auction and facing competition for the property.
ACTON Regions posted strong sales results month
after month, with numbers rising each quarter.
Sales for the June quarter were 52.02 percent
higher than for the 2012 June quarter, while sales
for the financial year were 49.49 percent higher
than the 2011/2012 financial year.
The last 12 months also brought a range of
benefits for both buyers and sellers.
At the end of last financial year, listings were
close to 13,000. They fell over the first half of
the financial year, but have been fairly stable
between 8,000-9,000 for the last few months.
This was great news for sellers as the reduction
in stock increased competition among buyers and
encouraged them to act. As a result properties
are selling in shorter time frames, there is less
discounting, and prices are showing some gentle
growth.
It has also been a positive year for buyers. Interest
rates have fallen to record lows, making housing
more affordable. Plus, prices have been very
reasonable for a number of years and sellers are
pricing to meet the market. Buyers are getting
very good value for their money and are likely to
do so for some time to come.
First homebuyers in particular have been very
active - the number of first-homeowner grant
applications over the year to May rose 34 per
cent, with about 5,000 more West Australians
seeking to own their own property compared with
the same time last year. This has paved the way
for upgraders who are taking advantage of the
excellent market conditions to buy a new home.
In good news for tenants, the rental crisis appears
to be over. The critical shortage of properties
experienced at the start of 2013 has eased, in
part as a result of some tenants choosing to buy
their own home and more investors entering the
market. Rental listings are up significantly on the
same time last year, giving tenants more choice
and reducing the pressure on rents.
While rents are not expected to rise much further
over the course of the year, investors can still
receive very good returns, they just need to be
market savvy - investing in in-demand areas,
buying the type of property that appeals to tenants
and, like sellers, pricing the property to meet the
market.
Overall it’s been a very good year, and we are
feeling very confident for 2013/2104.