Ray White Cannington

What’s happening in our market? Since the election in May this year buyers have been out in force and taking advantage of the opportunity to secure a property in some of the best buying conditions we have seen in the past decade or more. In the 2 months since the election, Ray White Cannington has sold over 20 properties whereas in comparison, in the 2 months prior to the election there were only 15 sales achieved. Whilst there is not a great number of difference in the number of sales, we have seen far more activity with inspection numbers and particularly the number of buyers willing to make offers on all types of properties on the rise. With this increase in the number of offers being written we are seeing in some cases that buyers are making offers above asking price, as well as the days to achieve a result shortening. The rental market has also seen a vast decrease in the number of properties available to rent, which has resulted in decreases to both our days on market and vacancy rates, which are now sitting at around 1%. Cameron Smart Principal & Licensee, Ray White Cannington