WA MARKET OVERVIEW
WESTERN AUSTRALIA
Vivien Yap - Principal | Ray White Dalkeith & Claremont
Thank-you for the opportunity to share your insights as part of The Property Development Review publication - the words “housing crisis” are echoing through the media at the moment, within your market are you seeing it getting easier or harder for buyers to get into the market.. There’s definitely more competition among buyers, making it challenging for many to secure a property. However, buyers with cash or pre-approved finance who meet the seller’s expectations—be it in terms of price, conditions, or settlement date— stand a better chance in this tight market. This is why auctions are an excellent method for selling properties right now. Auctions create a transparent environment where all buyers have a fair opportunity to compete, ultimately driving the best possible results for the seller in this competitive landscape. What are you seeing in the market in terms of residential enquires on property? The most common residential enquiries we receive involve requests for price guides, rates for the property, and availability for viewing, especially if an official home open time hasn’t been set. Buyers are eager to get in early and secure a competitive edge. And as price guides become more accessible online, what kind of enquiry are you receiving? With price guides more readily available, buyers have shifted their focus. They are now asking more about the reasons for the sale and trying to schedule the earliest possible viewing. There’s an increasing sense of urgency as buyers look to move quickly in a competitive market. Which segments & type of property in your market are exceeding expectation and what do you attribute this to? Homes with river, ocean, or city views, as well as brand-new or near-new luxury homes located near top-tier public or private schools, are performing exceptionally well.
VIVIEN YAP
128 – September / October 2024
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