The onset of spring weather has seen renewed activity in the local real estate market with sales inquiry up significantly over the past month according to RE/MAX WA Managing Director, Geoff Baldwin.
“Historically there is a lift in sales volume at this time of year as the weather warms up and people also like to move to be settled into their new property well before Christmas”, Mr Baldwin said.
“Another significant factor is that interest rates have stabilised having not changed for around 9 months and with the Reserve Bank confirming that they are unlikely to rise this year.
“Many projectionists are of the opinion that rates are now more likely to move down rather than up over the next twelve months which is good news for people looking to take out a mortgage.
“With the softening of prices and strong rents in recent years, the WA market has now been confirmed as offering amongst the best value of all states in Australia and this is beginning to be more and more recognised by investors and owner occupiers alike.
“It is expected that the market will continue to gather momentum over the coming months and that stock will reduce putting pressure on property prices.
“Buyers who may have been holding off waiting for the best value should now consider taking action sooner rather than later “, Mr Baldwin said.