Earlier this week, the Reserve Bank announced its third consecutive interest rate increase – a shift that is beginning to influence buyer behaviour across the market.
While Perth continues to experience a shortage of available listings, we are seeing a change in pace. Buyers are taking more time to make decisions, and “subject to sale” conversations are re-emerging as part of a more considered approach, with buyers wanting to understand what their property is likely to achieve before moving forward.
While it may be taking a little longer to sell, we are still selling strongly. Over the past seven days, we have successfully negotiated offers on seven properties, helping our buyers and sellers move forward.
What this shift in pace is doing, however, is creating opportunity.
Buyers who are prepared, with finance in place and a clear plan, are finding themselves in a stronger position to act with confidence, with less competition, when the right home presents itself. In this environment, those who are ready are being rewarded.
We are delighted to have launched another eight new listings to market, along with updated pricing and closing dates across several of our current listings, providing more opportunities for buyers to take that next step.
If you would like to understand how we can assist with your next move, please don’t hesitate to reach out. We are here to help.
