Tis’ the season for property buyers in Perth
Today’s post is from guest blogger, Granger Clark Real Estate.
Tenacious Perth buyers are in a great position to reap the rewards of the traditionally quieter real estate months over the Christmas and holiday period.
The Perth market, as with Australia more generally, slows over the summer months as people shift their focus to family time and holidays. As such, weaker demand is to be expected from November to January.
This year, the weaker demand is likely to be met with increased supply as the resource sector slows. As this industry decreases in importance, houses and land throughout Western Australia are expected to be on the market for longer.
The combination of seasonal variation and influx of property on the market creates a buyers’ market and represents a great opportunity for those buyers who remain active over summer.
Under these conditions, Perth sellers will be more willing to negotiate and settle for less, opening the door for astute buyers.
While those not under pressure to sell can wait for the market to swing back toward the sellers, many others will be eager for a quick sale and will lower both their expectations and property prices.
Buyers who shop around and negotiate firmly under such market conditions can secure a great deal. Get an idea of the current listings in Perth and the state of the local market.
It’s not all bad news for those selling. What they may lose in a sale, they can expect to make up for in negotiations for their new property if the turnaround occurs during the slow season. Just as astute buyers can secure an excellent deal, those looking to sell and immediately buy can also benefit from their quick actions.
As with the ubiquitous Christmas, Boxing Day and holiday retail sales, the window of opportunity for Perth buyers is limited. The status quo is expected to resume in the latter half of January, when buyers return to the market and sellers are in a position to take a tougher negotiating stance.
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