freewaysouth Here at Professionals Freeway South we are just one of over 50 offices located throughout Western Australia. This means as a group we have a unique insight in to the real estate market in our state. The latest figures from REIWA indicate that the WA real estate market is recovering with a 20% jump in property sales over the last year and a $15,000 increase in the median house price over the same period.
Whilst we consider ourselves to be experts in our local market we are happy to defer to the CEO of Professionals Real Estate Group who is an expert in the overall WA market. In a recent communication our CEO, David Hobbs said “Driving this improvement in the local property market is the underlying pent up demand for properties in Western Australia due to a lack of new home construction combined with our surging population”.
This is certainly good news for home owners already in the property market but Mr Hobbs also urged first home buyers that the next few months represented a last window of opportunity to purchase a competitively priced established home before the supply of properties for sale further declined.
Within our office we are certainly seeing many positive indications that the market is recovering so if you are considering purchasing a home now is definitely the time. Further, if you are considering selling your home, the market is now offering better results. It is important that if you are considering selling your home to obtain advice that is current with these fluctuations in the market what you may have been told even as recently as last year may no longer be correct or accurate.