Perth Property Market Update May 2024

As many first home buyers already know, the unit and apartment market is red hot with sales prices exceeding all expectations and all available stock just flying off the shelves. So why is this?
According to Ms Hart the CEO of REIWA, this growth in the median sale price for units and apartments is a direct result of their affordability.  “Flats are often a great way for first home buyers to enter the market,” she said.  “They also offer good value for investors.”  Ms Hart said under current market conditions, prices in the unit market are likely to continue to rise and the time on market will remain low. 
This reflects our current experience with about 95% of our unit stock being sold in the first weekend to first home buyers with investors still circling in the background. However, given the very high numbers of first home buyers who are keen to move out of the rental market, interest in vacant or soon to be vacant properties is definitely higher and the prices generated for move in ready and well-presented units is also definitely higher.
If you are thinking of selling and would like to know more about how to maximise your sales price, please do get in touch.