Cannington Market Update October 2012

October has again proven that Spring is the best time of year to buy and sell property, with another 15 properties sold over this month to the 31st. First home buyers are the main contributors in the market, with 11 of the 14 sales going to first time buyers.

There is still people actively looking in higher price brackets, with one sale in the office at $640,000 and another for a 2012 East Cannington record of $1.12m.

We are still experiencing high demand for a wide range of properties including 3 & 4 bedroom 2 bathroom homes, 2-4×1 homes on larger blocks, retain & build opportunities and 2-12 unit development sites.

Buyers are out in force and are prepared to transact, many with Pre-Approvals in place through their nominated banks. This is allowing people who decide to
sell the opportunity to get a result quickly. As they know their limits on purchase prices, when a property comes to the market and is priced suitably, they are acting quickly.

9 out of the 14 properties sold by Ray White Cannington this month were in less than 10 days, with the remainder being between 10 and 90 days. This is thanks to the ability of the sales team to locate buyers quickly, and extract and negotiate offers to the best possible prices.

New listings are also coming through strongly, with 22 new listings this month for the office. Of the 22 new listings we have put 10 of those under offer so far. We expect to sell a few more early November, with 3-5 new listings over the past few days we are still waiting to have photo’s taken and get ready to open to buyers.

If you are considering selling, now is one of the best markets to sell in, let us show you how we can negotiate to help you achieve a successful result in a short period of time.