Market to Bounce in February

28 Jan 2014| Posted by: Geoff Baldwin

Historically the month of February sees the real estate market rebound following the Christmas, New Year lull and opens a new window of activity for buyers and sellers according to RE/MAX WA Managing Director, Geoff Baldwin. “Although through this year's holiday period has seen the market maintain strong momentum February is predicted to see buyer demand go to a much higher level again”, Baldwin said. “Sellers who have been holding off would be well advised to take advantage of this predicted upswing in buyer demand as it historically creates more competition for available listings often resulting in better sale prices and a shorter time on the market. “One problem facing the Perth market this year is the comparatively low listing stock levels which will mean that buyers will have less to choose from making it advantageous to those sellers who do place their properties up for sale. “We have seen buyer demand increase significantly in the second half of January and this momentum is expected to grow as we move into February with the overall outlook for 2014 being very positive for sellers. “Buyers who have been waiting to get through Christmas/New Year would be well advised to act sooner rather than later to avoid paying more”, Mr Baldwin said.