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Has Perth’s competitive house market turned a corner?
Has Perth’s competitive house market turned a corner? 24 October 2024 Matthew Hughes SOURCE: DOMAIN.COM.AU WRITTEN BY: Sarah Brookes September 20, 2024 With listings soaring in some suburbs, has Perth’s competitive house market turned a corner? A new analysis of Australia’s property market has revealed a significant shift in dynamics with increasing listings in popular Perth suburbs giving buyers a stronger position. MCG Quantity Surveyors’ report, which covers 50 regions, showed rising stock levels in key markets, marking a notable change from the competitive landscape of recent years. Managing director Mike Mortlocdk said buyers are in a better position than they’ve been in for years. “As we see listings rise across regions like Wanneroo and Stirling we expect price growth to moderate,” he said. “This presents a strategic moment for buyers to step in while interest rates and economic uncertainty hold some buyers back. With a more abundant market, buyers can afford to be selective and negotiate harder. “It’s an opportune time for first-home buyers and investors who are looking for better value, particularly in outer suburban areas where price pressure is easing.” Wanneroo and Stir
SOURCE: DOMAIN.COM.AU WRITTEN BY: Sarah Brookes September 20, 2024 With listings soaring in some suburbs,… Read Article