EAGLE-EYED INVESTORS COULD SPOT BARGAINS

31st January 2007

Property experts are tipping a surge in the number of 'nervous sellers' emerging in 2007, which means eagle-eyed investors who stay on top of the market have the best chance to spot bargains.

Property Wizards Buyer's Agency director Liz Sterzel said the stabilising market meant properties would likely take longer to sell, causing some sellers to become nervous and lower their asking price to hasten the sale.

"Uncertainty and mixed messages from various sectors of the property industry may mean there are more nervous sellers in the short-term market, which means investors could find bargains in winning suburbs with strong growth," she said.

"Clever investors who are well advised on Perth property prices or have an expert buyer on their side, could take advantage of conditions in 2007 by watching the market then pouncing on the bargains.

"Investors with time and knowledge on their side could do well if they monitor a property's price and wait to see if the seller becomes nervous and lowers the price - but this situation in the market isn't going to last very long," she said.

Ms Sterzel said there would only be a short period of time where some sellers may be nervous about the stabilising market conditions.

"At the height of the boom, properties were selling abnormally fast, so sellers are now in the midst of a wake-up call as the market stabilises and sale times return to normal, and some may not have the confidence to wait," she said.

"Because Perth is in a strong economic position with rising immigration and population growth, good job prospects and the resource boom, sellers' confidence won't be absent for long."

Ms Sterzel said WA's strong economic growth drivers will keep pushing property values up and refresh confidence in the property market.

"Although the hype of the boom may have artificially boosted property prices in suburbs which did not have a solid ground for growth, the star suburbs with independent growth drivers will continue to perform excellently," she said.

"Research is always the key to a golden buy that will perform well in any market, so the investors that will do best in 2007 are those who have done their homework and are prepared to spot good value - a good property will always serve you well."

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