MARKET CHANGES UPDATE FOR 2020

I would like to update you of the recent market changes and experts predictions.

 

As you know WA suffered a market crash back in the end of 2013 and since then has been going downhill.

Market has stabilized in 2017 with some suburbs still adjusting, nominating suburbs of high criminality still going down as people buy and sell in the same market to move to a better area.

 

See criminality map below:

https://www.perthcrimemap.com/

 

Nevertheless, for the investors looking at potentially selling their properties, this is it!

And here is why:

  • People been waiting in the market because of the politics war and then because of banks war.
  • The interest rates are at a whole time low and property is at a whole time low.
  • So there is some momentum with buyers confidence.

 

However, the sales prices are predicted to be a low market price.

And here is why:

  • People been in the market for a while and are very well informed.
  • There is more supply than demand due to subdivisions and continuous developments.
  • We still have the highest unemployment rates in the country.

 

The experts indicate that 2020 is going to be a good year for owner occupiers buyers confidence, due to the people that has been waiting to see what happens with the politics and interest rates.

And then the l interest rates are predicted to normalize and with this WA property will continue to fall to adjust to the ratio of supply and demand. Experts indicate that only in another decade we will see the market picking up and this is to adjust to the rest of the level of the rest of country.

 

In conclusion, if you have been contemplating to sell, this may be the time, but please keep in mind that the market prices are low and that this is a short lived prediction.

 

I’m here to service your property the best I can😊

https://www.saxbyrealestate.com.au/