Real Estate News

Jump in home open numbers points to rebound

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The number of people visiting open homes rose significantly for the first three weekends of November compared to the first three weekends of September heralding a rebound in the Perth market according to RE/MAX Managing Director Geoff Baldwin.

“We surveyed across 48 of our group’s open homes in 17 suburbs which showed an average of 5.8 people visiting each property up from 3.3 visitors in the September survey period indicating a significant lift in buyer sentiment and activity”, he said.

“What is even more positive is that our conversation of inquiry to sales is also up by around 23 percent and all signs are that the Perth market is heading for a healthy rebound as we move into Summer.

“Historically buyer activity lifts pre Christmas and then surges again in the second week in January and this annual trend looks very likely to repeat this festive season.

“General feedback from prospective buyers is that now is the time for buying decisions to be made with prices as low as they have been for several years,  interest rates down plus there is plenty of choice with the relatively large number of homes on the market.

“People are realising that this window of opportunity will not remain open indefinitely and also that the market has hit bottom and will begin to rise as the current stock is taken up”, Mr Baldwin said.

ENDS

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