Retailers are re-opening and some are experiencing ‘Christmas-like’ traffic, school children are back at school with over 85% attendance*, and restaurants and bars around Perth open up to diners and immediately book out weeks in advance. It is clear many of us are keen to return to normal and get back to enjoying life’s simple pleasures.
By the 11th of May, REIWA reported that there was already more sales activity for that month compared to the whole of April*. And with housing stock levels the lowest they’ve been in 6 years*, competition is running hot for sought after properties around Perth.
Ryan Smith recently listed a 3-bedroom, 2-bathroom property in Innaloo and has seen over 20 groups through the last 2 home opens, with queues out the driveway waiting to get in.
“This property in particular is unique for its area. Innaloo is a fantastic location within close proximity to the city, freeway, some of Perth’s best shopping centres and of course, it is neighbour to the popular Scarborough Beach.
Unlike most other properties in Innaloo, 32 Crocker Way was built back in 1952 and is full of character and charm.
It’s evident that good quality properties in desirable areas will continue to generate a high level of interest, particularly as stock becomes more and more scarce.” Ryan said.
Nathan Tonich, a Realmark Urban sales rep works predominately in Doubleview and surrounds.
“All of my properties are selling quite quickly. I apply Realmark’s Set Date Sale process to majority of my property sales and have maintained a low average days on market of 27*.
The key is to approach each sale with a systemised selling process to maximise the current opportunity of increased buyer demand.
There are many buyers looking for properties and with less supply on the market, we’re in a position to generate healthy competition between buyers for your property.” Said Nathan.
Many of us are trying to predict the future right now. Although there are some positive signs for Perth’s property market outlook, the truth is that it’s too early to predict what the real impacts will be. We have prepared an analysis on Perth's market outlook in partnership with CoreLogic here.
What we do know is, for the most part, May has been a positive month and has outperformed our expectations in terms of enquiry, home open attendance, offers being made and properties being sold. So, if you are thinking of selling and the timing is right for you, it could be a great time to sell.
*REIWA release – Residential listings for sale and rent at six-year low
*7 news – Western Australian parents could be fined for school no shows as mandatory attendance returns
*Realestate.com.au median days advertised – Nathan Tonich