Ray White Keevers Group

MARKET TALK - Ben,and Sarah O pening our office was always a little gamble but since taking the plunge we literally HAVE. NOT. STOPPED! The Real Estate market has been super- charged and a whole lot has happened that no one would have predicted 12 months ago. Homeowners have waited a long time for values to return to their properties and May marked the tenth consecutive month of increased home values in Perth, resulting in a 10% increase since July 2020. Honing in on our coastal suburbs, the median house sale price has risen across the coast. Sorrento has reached its highest peak in history! Median price for a property increased to $1.045m which is up 3% on its previous peak thus far! North Beach and Marmion have also seen increases in the last year with an increase of 17% and 8.6% respectively. Land sales too have almost DOUBLED in the past 12 months (Source: REIWA) and it's no wonder... land values are up, and government grants were coming in thick and fast. For would-be land buyers, it's been an appealing time to act, and land owners are certainly taking advantage. So, what are we finding in the market currently? Well, sellers have an incredible amount of opportunity now… Perth is predicted to be the fastest growing real estate market in Australia this year with property prices tipped to grow 15%. In saying that, we are finding that sellers are a little bit more apprehensive; although they know they will achieve a great selling price, they worry they will not find another property to move into. This perception is causing some property sellers to delay putting their property on the market, lowering supply. The Keevers team knew we were in for a busy start to the year and here we are into a new financial year and no signs of the market slowing down; with high- demand, low interest rates, and consumer confidence returning. We’ve had a fantastic start to 2021... bring on the next 6 months! Figures accurate at time of print.