2013 Starts Strong as Buyers Pass Baton to Sellers

Monday, 11 February 2013

For 5 years running since the commencement of the downturn in 2007, there is no question, it has been a buyer’s market. The fundamentals of the market have shifted however and without some even realising so, the baton has been passed back to the sellers.

Escalation in rental prices has far exceeded any capital growth, interest rates have come down and the number of properties listed for sale in the Perth Metro area as at Friday 8th February 2013 was 9,266. At this same time last year, the number of listings was hovering at around 16,000. The numbers say it all!

It’s certainly not necessary to be worried about missing out, as there are still some fantastic buys around, however, for first home buyers it’s a great time to be getting involved in the market, and for those that have been sitting on their hands waiting to reenter the market or growth their existing portfolio, now is a time to proceed with a certain level of confidence.

Call one of the career professionals at Vitale Fine Properties on 9385 0777 about your property goals today.