June reported a mild 0.6%* decline in dwelling values. However, when looking at the 12 month change (-2.5%)* and the 90 day change (-1.9%*) this mild dip in June indicates that the rate of decline is slowing - a positive sign for Perth's long-term property market outlook.
Despite a significant increase in property sales, listing stock in Perth is still down 25% when compared to this time last year. This is likely due to a number of reason such as some residents pausing migration plans, while a portion of the population adapt a 'wait and see' approach and are comfortable with where they are while there is still a level of uncertainty.
The 25% drop in properties available to buy has created a healthy supply and demand contrast that is favourable to sellers. A recent property our team marketed in Joondanna received 11 offers in total over the campaign period - with some extremely competitive offers for our seller to consider. South of the river our team sold a 2-bedroom 1-bathroom villa in Como for $580,000 cash, which is $169,000 above the median unit price for the suburb.
Realmark has built a strong reputation in Perth for our 'no price' strategy. The method of Set Date Sale or Auction allows us the time to effectively market and attract all offers within an optimised time period, which in effect maximises the result of the property sale. This approach also gives buyers time to make informed purchasing decisions and gives buyers the equal opportunity to buy.
In a market as active as what we're experiencing now, we encourage all sellers to consider Realmark's exclusive sales method to ensure they're not underselling their property prematurely.
If you are looking chat about your property's comparable market value, please don't hesitate to give a Realmark Urban agent a call.
*Corelogic