Perth property bargains harder to find: HTW

Perth property bargains harder to find: HTW
Perth property bargains harder to find: HTW

Perth bargains are harder to find, according to the valuation firm, Herron Todd White.

"All in all, the market is ripe for owner occupiers to make a purchasing decision," a recent report to clients advised.

"Many speculators have already called the bottom of the market and they may well be right – just not in all areas.

"Many areas remain price sensitive, but the ability to snag a bargain is becoming harder by the week," it suggested.

"There are definite signs things are changing.

"Discussions with selling agents reveal more frequent incidents of multiple offers on properties and a higher level of open home attendance at lower price levels.

"The number of properties advertised for sale has declined over the previous 12 months, from 14,000 to 13,200 – with the market commonly interpreting 12,000 as a balanced market.

"Given that in an average week, 500 sales are recorded in the Perth metro area, a short period of undersupply could lead to a market correction in a very short period of time," it suggested.

The market appears to be at the stage of understanding that the window of opportunity to pick the bottom of the market is narrowing, with a level of optimism becoming apparent.

Tags: 
Perth Property Crash

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