24 May 2015
May Market Update

May Market Update

May Market Update
Guid,Tips,Selling,Auction real estate agents

Rates Dive to Historic Low

Believe it or not, within the next 35 years we will have another 40,000+ homes in just the City of Armadale! So what does that mean for the current residents? The City of Armadale forms part of a big growth corridor, therefore buyers sitting on the sidelines should be jumping in with both feet. Interest rates are dropping below 4% on home loans and the cash rate has dropped to an unbelievably low 2%. This means money is very cheap! I predict this is going to be the way for a while to come.

To put this into perspective, Sydney’s median price has made it to $900,000 – that’s right, no misprint! I remember a time when people said that a median price of $500,000 was ridiculous and it would collapse. This is proof that the market will always recover.

If you’re smart and don’t try to pick from the top or the bottom, and plan to hold for the long term, you will do well, very well.

We all have our ups and downs and the real estate market is no different. Residential real estate makes up $5.9 trillion of the $10.2 trillion of invested wealth in Australia. Australian superannuation equals only $1.98 trillion, Australian listed stocks equals $1.7 trillion and commercial real estate equals $0.7 trillion. (Source: Core Logic RP)

It is a buyer’s market and my advice is go buy something! For more advice on where and how feel free to ask the Naked team at anytime.

Perth Market Stats

  • Median house price (past 3 months) – $535,000
  • Median unit price (past 3 months) – $440,000
  • Average time on Market (past 3 months) – 68 days
  • Total listing in Perth – 14,308

*Data provided by Reiwa & Core Logic

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Written by Brendan Leahy

May Market Update
Brendan Leahy

Brendan began his real estate career over 12 years ago and in that time has personally sold in excess of 1,020 homes. While he loved seeing people achieve their dream of a new home for their family, Brendan kept thinking that there had to be a better way of doing real estate - one with respect for the long term benefit of the client and one that focuses on customer satisfaction. While service is a given, our concentration is on hte outcome to give you the best possible experience with us.

As such, he started Brendan Leahy Real Estate in 2006. After many years of research and training, Brendan saw the need for a new system and Naked Real Estate emerged in 2012. The name reflects the company's primary objective of providing excellent customer service that is 100% transparent.

Brendan strongly believes in delivering an exceptional and incomparable service. Having lived and worked in the hills for over 12 years, Brendan has a wealth of experience in the area. Below is a map showing the properties Brendan has sold, all over Perth.

View all posts by : Brendan Leahy

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