IN Full Swing

The upswing is in full swing.


In recent months, we’ve been seeing increasing signs that the residential property market is arising from its slumber and for those who’ve been standing on the sidelines; it really is time to take note of what opportunities are being offered up.


There are green shoots appearing in several sectors of the market. First home buyers are more active as are the so-called upgrade buyers. Investors are responding to higher rental yields and even the top end is showing modest but positive signs again.


Here at Realmark, we’ve been seeing some intense pressure on prices in the $400,000 - $600,000 band and that pressure is beginning to start spreading upwards of the $600,000 mark.


Investors are particularly focussed on properties below $600,000 and the apartment market is noticeably attracting their interest.


Realmark has also experienced a marked increase in properties being referred to its property management division from many renewed or new investors in both the residential and commercial markets.


Even Australia’s top banker – the Governor of the Reserve Bank – last month said that house prices weren’t unreasonably high and affordability is in fact much better than it has been in the past decade or so.


Whilst there are statistics upon statistics, when the person at the helm of all interest rate decisions in this country says house prices have declined to where they were in 2002 and that housing is now more affordable than it was four or five years ago then it’s truly time to sit up and listen.


And that’s when we go back to fundamentals that we now see: construction is down, interest rates are down, supply of houses is tight, rental vacancies are very tight and unemployment is historically low.


At the same time, savings and household income are on the rise, rental returns are strong and rising and buyer enquiries are up.


Add to that the estimated 1,000 or so people flocking into Western Australia each week for the work and the strong economy we have here, and it’s no surprise that the property market is heating up. And right now the market is transitioning from a buyers’ market to a sellers’ market.


So what does that mean for you? As an investment buyer, you need to focus on the quality of the asset, the yield on investment, security, facts rather than emotion and the options to exit.


As a seller, you must be very cautious not to “under sell” in the current environment.


Both buyers and sellers must work with an agent who takes the time to understand their individual needs and goals and then provides them with a selection of selling and marketing options.


In this time of transition, it’s never been more important to seek out an agent that uses the customised solution most suited to YOU.


At Realmark, we call this, My Agent, My Advantage – and it’s what we provide for YOU.