Buyers have had their way for quite some time now and its becoming more obvious to buyers that there is a lack of good stock around.
The Western Suburbs where we sell have gone through ups and downs it appeared to be moving, then it stopped and started again it’s been a bit of a roller coaster.
I have kept saying get in buy the worst house in the best street that you can afford because when that tide turns it will run away from you.
No everything isn’t going to be perfect if it was don’t you think everyone would have been there before you got there. Just take the plunge, do a few sacrifices and get in. If you must sacrifice your luxuries for a few years do it, property will also bounce back.
All reports are saying we are now in recovery stage but somehow there is a shortage of that top end market, because they have slashed and sold and lost millions some of them they have slowly been absorbed. As a lot of sellers realized that they were not going to get back what they originally paid for the home (if they bought in the last 5 years or so) and resided they were going to lose a lot of money – well some just had to sell and couldn’t avoid it where as others are now sitting back for us to go up a bit – and we will. We have been beaten down over the last 3-5 years and the bargains that have been going on is astounding however I feel it’s about to stop very soon if it hasn’t already you will never be able to pick that exact point, but you will know when it starts going up.
Why prices in the top end suburbs of Perth are now rising… there is a combination of reasons.
The prices have been so stagnate since 2016 and the increased buyer activity has now lead to a decline in the housing stock within the premium areas which will mean that buyers have to pay a higher price to secure their home. (Well it still won’t be huge, compared to what it was originally).
The vast majority of areas in Perth, property prices would still be considered as rock bottom and buyers should now move quickly to secure a property before the recovery in the market gains further momentum to avoid buyers regret.
It’s what I have been telling you all for months BUY NOW !! Nothing is ever perfect and if you keep umming and arrrrring you are going to be left sitting on the fence shaking your head and saying “what happened”!!