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Little doubt market is in upswing
While this year's winter months saw a “lull”, investors can still expect a positive market surge through the next couple of seasons, according to RE/MAX WA managing director, Geoff Baldwin.
Pointing to a resurgence of investors, record low interest rates, the best level of affordability since 2007 and increased listings, Mr Baldwin said his expectations are for increased sales and upwards price pressure.
“Historically, the spring period sees the market improve and there is little doubt this annual cycle will repeat again. However, there are several other influences that are likely to create extra pressure this year,” Mr Baldwin said.
He urged those looking to upgrade or purchase their first home to look at the market prior to this upswing if they wish to avoid paying more.
“Most informed projectionists are in agreement that Australian property prices are as low as they are likely to get and although no one is predicting boom conditions, people who buy now will almost certainly benefit from significant gains over the next few years,” Mr Baldwin said.
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