2018, the year as it was… “The Turning Point”

2018, the year as it was… “The Turning Point” 10/12/2018

Latest statistics out from the real estate institute of WA (REIWA) - leave absolutely no doubt that the Perth and indeed extended West Australia (or WA) Real Estate market is on the increase with prices by the end of 2019 tipped to increase by a modest 7% on average.

The first quarter of that year, the Perth market could be equalled to a “formula one car in second gear” with all the right ‘ingredients’ for activity to increase, low interest rates, stability in State Governance complemented with a steady flow of people mobbing back West.

It’s the second quarter where the market went swiftly from second to 4th gear with the next expected mining boom finally gaining traction, fuelled by the media running headlines such as “Bidding war begins as WA once again searches for workers to fuel mining boom” 
 
 
 
The third quarter was all about consolidation with a number of properties SOLD almost twice that in the same period in 2017.

Interestingly, the Perth Southern Hills districts such as Roleystone, Bedfordale , Mount Nasura, Kalamunda and Lesmurdie have out performed the vast majority of other Perth suburbs, testament that buyers interest in the Perth hills in general remains very strong.

Whilst property prices have yet to increase, the rate at which properties are being SOLD leaves not doubt in my mind that 2019 will see buyers in bidding wars in the hope of securing that dream home before property prices rise.

To all of our readers and the extended Roleystone community, on behalf of myself, Kirsten and all the RRE team, we wish you a joyful and safe festive season!