Traditionally, more sales are made in the second half of the year but to our surprise, first quarter recorded exceptional sales have seen already. Perth’s property market goes from strength to strength nowadays which is added the good sales results.
According to Real Estate Institute of Western Australia (REIWA) President David Airey, “The surge in sales saw Perth’s median house price rise by at least $5,000 and would likely jump up to $10,000 with late settlements.”
The factors behind the continuing strong growth are low interest rates, strong population, growth and a strong economy with high confidence. But we expected for a change especially in median rent and the house price. Indeed, Perth’s property market still performing well and competent to have a better economy.