Market on the Move… Strong Buyer Activity Now Pushes Through the $1 Million Mark…

Market on the Move… Strong Buyer Activity Now Pushes Through the $1 Million Mark… 01/07/2016

In our June edition, we commented on how buyer activity in the sub $500,000 price category was unprecedented, with tenants taking full advantage of interest rate lows and entering the market of first home buyers, and our subsequent expectancy of increase in activity across all price sectors.
 
The below transactions are confirmation that this is already happening… all Million Dollar properties with two selling in less than 16 days!
At RRE, the number of buyer enquiries has been so dramatic that we are now conducting multiple buyer inspections across the board. The result being a reduced average selling time from 60 to 35 days!!!
 
Assisting record low interest rates as a contributing factor to the dramatic increase in property sales during the course of last month, being the media affirming via television, online as well as through print, that the Perth market has definitely reached the bottom, and as such there will never be another opportunity to secure West Australian real estate at current price levels.
 
Finally, I am extremely confident that those buyers who do not enter the market during the June quarter will almost certainly pay more for their dream home toward the end of 2016.