Perth market update April 2017 | Mavin Real Estate

Perth market update April 2017

Property Clock houses Perth April 2017

Perth market update April 2017

When speaking to buyers and sellers alike the big question is:

“when is the market going to pick up again?”

There are early indicators that the market is starting to improve according to Corelogic (RP data). They predict in a recent article in the West that we have reached the button of the market and Perth house prices is expected to rise by 3%. Apartment prices are expected to rise by up to 5.6%. 

On the other hand other experts such as National Property Valuer Herron Todd White, believe that the Perth residential house market is still approaching the bottom of the market and ranks Perth at 4 on the property clock.

Property Clock houses Perth April 2017

 

The Perth apartment and units sits on 3 on the property clock and the owners can expect even more pain as the units and apartments.

Property clock Units in Perth April 2017

What is the market doing then?
Properties in established suburbs that traditionally appeal to owner/occupiers are still experiencing plenty of interest. As a seller, attention to presentation as well as understanding current property values is vital. 

On the other hand, properties that typically targets investors only are experiencing more challenges but there are still astute investors out there with a long term investment strategy.