Ray White Keevers Group

MARKET TALK Wow… the last few months have been a whirlwind on so many fronts. Frommaking the huge plunge to open up our own office, to the property market exploding, we’ve been run off our feet… and loving it! A myriad of factors have contributed to Perth heading in the direction of a mini-boom, something no one expected post-Covid! Normally, the end of the year would see a serious lull in listings and sales but we we’re signing deals until the 11th hour. The market in December was at its hottest; listings for sale at their lowest, yet demand at the highest in 2020… actually, the highest we’ve seen in at least 6 years! December recorded double the number of sales compared to December 2019, and if that was anything to go by, we knew we were heading into a big new year. With listings for sale decreasing rapidly, competition has become fierce and in turn, property prices are steadily growing. So, why is demand so high now? Well, buyers have never had it better… not in the last decade anyway. Historically low interest rates, finance incentives and a market they feel confident about entering have all contributed. While it’s been a buyers’ market for some time in Perth, if you are thinking of selling, you’ll be happy to know that the balance of power is shifting – and fast. Heavy competition is seeing properties sell in record time and for much higher than the asking. Perth also remains very favourable for investors which will only assist with price growth. In fact, it’s predicted that Perth's median house price will rise 10% this year. Happy days! - Ben and Amy