The Perth property market continues to stabilize, with preliminary September quarter data revealing steady or improved levels across most key market indicators.
REIWA president Mr Haydn Groves suggests activity generally starts to ramp up as the warmer weather hits in October. This is traditionally the pattern seen as the weather changes. It is also know for sales activity to traditionally peak in November.
“Historically, sales transactions tend to slow at the start of spring due to a mixture of school holidays, public holidays, and the AFL footy finals,” said Groves.
“We’ve observed six months of stable conditions, with both the June and September quarters posting consistent results. Historically, before a market improves there is a sustained period of level stock, sales activity and house prices, which is what we appear to be witnessing at the moment,” Mr Groves said.