What Happened to the Market in July?
Well we don’t know about the rest of Perth, but Ray White Cannington had an absolutely spectacular month in terms of both Rentals and Sales around the 6107 Postcode (Cannington, East Cannington, Queens Park, Beckenham, Wilson, Kenwick). With a total 19 properties sold and 11 properties rented out, July was the best month of the year so far for 2012.
With the recent interest rate drops bringing forward people’s decisions to buy, sellers are benefiting from lower days on market when pricing their property correctly. First home buyers are dominating the market under $500,000, with fewer numbers of investors (but not none). Properties under $500,000 are flying out the door when attractively priced, with 4 properties in July selling in under 1 week.
However buyers are still walking away from properties and moving on elsewhere if the price is not correct. This is currently being experienced across all price ranges.
Now in the final month of Winter, there has probably not been a better time to sell property in the past 3-4 years. May-July has been one of the busiest periods we have experienced for some time, and now coming into Spring we don’t expect things to slow down.
There may be a small influx of properties listed at the start of Spring, but given that the prices are attractive enough, there will still be buyers lining around the corner to get through and snap them up.
Ray White Cannington has been successful in converting property from “on the market for sale” to “under offer and then sold unconditionally”, with our current figures for 2012 sitting at 87% over 87 properties, which is a fantastic achievement.
If you’re looking to get your property sold or rented, speak to one of our professional sales or property management team by clicking here