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Homebuyers are being urged to take advantage of Perth’s low house prices after figures revealed prices had increased in the final months of last year.
The latest data from the Real Estate Institute of WA showed Perth’s median house price increased by almost 2 per cent in the three months to December to $535,000. REIWA president Hayden Groves said transactional activity reached a “remarkable” 30-year low in August, but the new figures indicated buyer confidence was recovering.
“Buyers are punting that we’re either at the bottom of the market, and if we’re not at the bottom then we are very close to it,” he said. “Confidence is starting to emerge. That’s why we’re seeing this upward pressure on price. “I think it’s up from here — I don’t think it will be a spectacular up, but it will be a more optimistic and positive year in 2017.”
Article by Shannon Hampton reporting for The West Australian.
Source: The West Australian