MORE RAYS OF SUNSHINE FOR MANDURAH
PROPERTY MARKET.
Hi everyone,
We witnessed some tremendous storm damage across
parts of Western Australia last weekend. But the storm
clouds that were predicted for real estate in WA simply
haven’t materialised. In fact, quite the opposite.
Last week, research firm CoreLogic revealed that Perth
has recorded its sixth consecutive month of price growth
in April. Last month, Perth values rose 0.2% to take
quarterly growth figures up to 1%. In fact, Perth was one
of only three capital cities to outperform its six-month
average pace of change.
Chair of Momentum Wealth’s Residential Investment
Committee, Emma Everett, said the trend could be
attributed, in part, to strong seller resilience. “While
we did see a sharp drop in buyer activity at the end
of March through to April, this was largely offset by
a corresponding decline in listings for sale, including
an increase in withdrawn listings, so we didn’t see high
levels of seller competition or conditions conducive to
widespread price discounting,” said Ms Everett.
Other rays of sunshine for Perth property include the
rise of sales transactions for the third consecutive week
as buyers re-enter the market. (Last week, sales activity
was up 32.7% from the previous week to 527 sales).
We’ve also seen leasing activity up 31.5% for the week
ending 10th May.
Affordability is seen as a key driver for Perth property.
“With the relative affordability of Perth following the
recent downturn, we are seeing some great opportunities
for owner-occupiers to take advantage of these market
conditions to upgrade their existing dwelling and tradeup
into their suburb of choice,” said Ms Everett.
Just like Mandurah, Perth property prices are holding
up extremely well. “We aren’t seeing the high levels of
vendor discounting that many first anticipated would
occur during the COVID-19 health crisis, and the
experience of our buyer’s agents on the ground is that
high-quality stock remains limited, with good properties
moving quickly when they do come on market,” said Ms
Everett. (Until next week, stay safe everyone).
To see the difference we can make to the buying and
selling of your property, talk with the team at ACTON
Mandurah, the most successful real estate agency in
Mandurah on (08) 9550 2000. Or visit our website at
www.acton.com.au/mandurah.
Graeme Baxter ACTON Mandurah
YOU’RE ONE STEP CLOSER
TO BETTER PROPERTY
MANAGEMENT
TALK TO US TODAY
PH: (08) 9550 2000
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