Hi Property Lovers
I came across this article on Australian Property Investor today and though it was a good read. Ive posted it below for your reference.
Perth sales volumes were up almost 70 per cent over the year to June 2009, suggesting the West Australian market is coming back to life, RP Data says.
At the same time, activity by real estate agents suggests the market Australia-wide is set for higher levels of activity in coming months.
The rpdata.com Property Market Activity Index measures the pre-listing activities of real estate agents in a bid to predict likely supply volumes ahead of time.
RP Data says industry activity across the country has climbed 17 per cent since the beginning of June and is 31 per cent higher than it was a year ago.
RP Data executive general manager David Williams says the increased agent activity is likely to translate into more sales.
"Over the coming weeks we're likely to see the size of the Australian real estate market expand considerably, especially as more stock comes on the market and buyers take advantage of the warmer weather to investigate more properties and attend open homes and auctions on the weekend."
Williams says the jump in industry activity in WA comes from a very low base.
"The Western Australia market has been in the doldrums for some time after recording an impressive level of growth during 2006 and 2007," he says.
"Over the year to June we have seen Perth sales volumes increase by almost 70 per cent as the Perth market starts to become reinvigorated."
This information was gathered from:
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