Ray White Noranda

It’s hard to make predictions at the best of times, let alone when we’re coping with an extraordinary global health crisis. Many clients are keen to knowwhat is going to happen in our property market. We can’t tell the future, but we do have some facts. Perth has the lowest median house value of any capital city, at $475,200. Our long awaited recovery was interrupted by COVID-19 with values falling over the winter months. Now our housing market is back on an upwards trajectory, with home values posting a third straight month of rises. It’s not surprising the amount of buyers heading to raywhite.com and RayWhite office websites to check out what’s on offer is up an astonishing 44% on this time last year. Overall the number of properties listed for sale is down 15.2% over the year. This is a key reason that property prices have, in general, held up. Well located, quality properties are selling quickly thanks to a queue of buyers waiting for them. Long-term decisions like selling or buying a home or an investment property shouldn’t be based on the most recent news bulletin. Human nature dictates many of us might prefer to sit on the sidelines until things become more clear but for those who have a secure job, current financing conditions make borrowing to buy or upgrade an opportunity that can’t be ignored. If you’re thinking about making a move, keep calm and give us a call. We’d be delighted to arrange a no obligation, contact conscious appraisal of your home at a time to suit you. Gregory Swiatek Whiteman and Associates What’s happening in our market?