As we head into the final weekend of the financial year, the forecast may be wet, but we expect plenty of activity across the local property market. For buyers, it’s shaping up to be an excellent weekend to get out and inspect homes, with a greater selection of quality properties available than we’ve seen for quite some time.
REIWA is reporting that the number of properties available for sale continues to climb, with 5,914 homes currently listed across Perth, which is 47.9% higher than this time last year. At the same time, Perth’s weekly sales volumes are down 23% compared to the corresponding week last year.
Despite this slowdown in the volume of sales, the market never moves uniformly. We continue to see quality properties in our local suburbs attracting strong buyer interest. Over the past seven days, we’ve successfully negotiated contracts on five properties across East Fremantle, Fremantle, North Coogee and White Gum Valley, demonstrating that well-presented homes, strategically priced, thoughtfully marketed and represented by an experienced team of agents continue to find the right buyers.
We’re also seeing buyers take a little more time to make their decisions. While that’s understandable in the current economic environment and with more choice available, many sellers still need certainty and a clear path forward. That’s where setting a defined timeframe can be incredibly effective. Whether through auction or a set date for presenting offers, creating a deadline gives buyers the opportunity to inspect, consider their options and make a confident decision, while providing sellers with greater certainty around the selling process and timeline.
You’ll notice several of our listings this week feature set dates for presenting offers (see the What’s New section below), and this weekend we’ll also be conducting our MUST BE SOLD Auction at 35A Stoneham Road, Attadale. This is one of the most exciting opportunities currently available in our local market. Boasting breathtaking panoramic river and city views, this rare duplex residence offers the scale, outlook and sense of space of a luxury home with the low-maintenance appeal of apartment-style living. Opportunities like this are incredibly rare, and with clear instructions that the property is on the market to be sold, we’re encouraging buyers to come and see for themselves.
Auction strategy remains a highly effective method of sale in the current market. It provides buyers with a transparent process and a clear timeframe to make a decision, while giving sellers three opportunities to achieve a sale: prior to auction, under the hammer or through negotiation immediately afterwards. Most importantly, the seller retains control over the final selling price throughout the campaign.
White House has certainly contributed to the increase in listings available this week, launching nine new listings across our local area. If you’ve been waiting for more choice, there has rarely been a better time to explore what’s on offer. We also have a number of White House Confidential Off-Market opportunities available.
We hope you have a wonderful weekend. Stay warm and dry, and if you’re considering your next move, we look forward to welcoming you to our home opens and receiving your calls.
