After a lull during the winter months all the indicators are present for a positive market surge as we move into summer according to RE/MAX WA managing director, Geoff Baldwin.
“Historically the Summer period sees the market improve and there is little doubt this annual cycle is about to repeat again however there are several other influences that are likely to create extra pressure this year”, Mr Baldwin said.
“Record low interest rates, affordability at it best since 2010, more listings on the market and a resurgence of investors all add up to increased sales and upward pressure on prices.
“RE/MAX Lighthouse Realty MD, David Willis confirmed that Bunbury would move in line with the Perth market and that he expected even more demand because of the comparatively better value in the local market.
“Our market here in Bunbury tends to take longer to recover that Perth however investors are now recognising what we have to offer here as are first home buyers who cannot afford Perth prices”, Mr Willis said.
Geoff Baldwin added that people who are considering selling to upgrade and first home buyers are unlikely to see a better time to take action than between now and the end of January if they want to avoid paying more.
“Upgraders who are holding off for a higher price must also remember that the home they will be buying will also be more expensive if they decide to wait.
“Most informed projectionists are in agreement that WA property prices are as low as they are likely to get and people who buy now will almost certainly benefit from significant gains over the next few years”, Mr Baldwin said.