Market Reports

Bruce’s Market Roundup – December 2016

2016-12-14

What an interesting few weeks for the WA property market! 

There has definitely been a change in the air in our economic climate and multiple variables suggest that an upturn is on the horizon. The job market appears to be recovering with a 16.3% increase in Perth-based job advertisements in the past 12 months. It has also been suggested that we can expect an upturn in house and rent prices due to a stabilising supply of properties. A quickly growing population will also force property prices up in coming years due to increased demand and relatively falling supply.

Perth is set to overtake Brisbane as Australia’s 3rd most populated city by the mid 2020’s, growing by approximately 3% a year.

So, what does this mean for you? For first homebuyers or current homeowners in search of a bargain, NOW is the time to enter the market as you will expect to pay less as prices round the bottom of the cycle. This is also a good opportunity for property investors looking for a solid long-term investment.

And the question we’re all asking – how will the US election affect our property market? Although there was a sharp increase in searches for Australian property in the hours and days following the result, investors are likely to wait until the dust clears until any action is taken.

Whatever happens, it seems to all be looking up!

For any extra information if you’re thinking of selling, please feel free to call me on 9328 2345 or 0419 965 137 any time. I can help.

Bruce Reynolds

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