BUYERS WARNED OF SPRING CLEAN PROPERTY TRAP

11th July 2006

Statistics reveal more homes flood the Perth market come springtime and while it means greater choice for investors it can also provide some traps, warns buyer's agent Trevor Dunkley.

Mr Dunkley, director of Property Wizards Buyer's Agency, said research revealed that, on average, about four hundred more Perth homes were sold in spring.

"In the seven years to 2005, the average number of house sales during spring was around 9,680 - up from around 9,250 during the colder months," he said.

"It's no secret many see spring as a good time to sell, with homes and gardens looking more attractive thanks to the sunshine and blue skies.

"We suspect that this year, enticed by the recent and ongoing high demand for properties and strong prices, more sellers could be again lured into the market from September onwards."

Mr Dunkley said while buyers could benefit from a rise in the number of homes available to choose from, people needed to ensure they did not lose focus on their investment needs.

"Right now many homeowners are giving their properties a spring clean in the hope any mini makeover will fetch them a higher price when it comes time to sell," he said.

"There's no doubt a lick of paint can do wonders for a home, and in many cases both the seller and the buyer can win from this sort of touch up, but the most important thing for buyers to keep in mind when reviewing properties is to look beyond the cosmetic quick fix.

"Too often people are caught out and pay too much - they don't realise the spruce-up is just that - a surface-level clean up that doesn't really add a lot of value to their investment."

Mr Dunkley said investors could help ensure they didn't fall into the trap of overpaying by thoroughly researching the market and then sticking to their game plan.

"Know what you're out there looking for, know where to look for what you need, decide on your budget and organise your loan pre-approval ahead of time, and then only buy properties that meet your strict criteria," he said.

For more information, please contact
Mr Trevor Dunkley
Director
Property Wizards
trevor@propertywizards.com.au
Tel: (08) 9381 7450