The West Australian reported recently that some house prices in the western suburbs had been slashed in order to achieve a sale.
The past two months have certainly seen a slowing of the market in the western suburbs, particularly toward the top end.
A series of six successive interest rate rises, plus the announcement of the proposed mining tax from a renegade Federal Government intent on killing the “goose that lays the golden egg” has resulted in a “wait and see approach” from potential buyers. The good news for people looking to change their living circumstances is that now is a great time to do it.
That’s because in a slowing market, the fear of losing out in the changeover period (such as occurred between 2006 and 2007) between selling and buying is minimised. As the article in the West indicates, there are definite buying opportunities out there at the moment.
If you’re objective is to improve your lifestyle in someway, selling in a slow market, and buying in a slow market is a great way to go.
Jamie Harrington
Director
Altus Real Estate
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This is the BLOG of Altus Real Estate; we are located in Swanbourne, Perth, Western Australia.