Dear Clients, Associates and Friends
Welcome To Our De Freitas & Ryan Monthly "E" News Update
Who Turned On The Tap?
For months now at least since the Melbourne Cup Day interest rate hike back in 2010, we’ve witnessed a steady fall in demand for residential property here in Western Australia with some suburbs more affected than others. The result of this has seen sale prices continually on the decline and unsold homes flooding the rental market.
As an agent this all results in a lot of hard work so that in order to obtain results for your clients you have to try and position yourself and your clients ahead of the market. In other words, you have to continually monitor the market trends and ensure that your market prices are correctly pitched in order to obtain the highest sales price for your clients. If your market pricing is incorrect you effectively have an over priced listing and these listings will sit and sit on the market without results and when the time comes that your clients really need to sell, the sale price will have dropped to a lower level resulting in a reduced sale price.
At De Freitas & Ryan we are continually monitoring our listings and ensuring that maximum sale prices are achieved. Even though we are telling clients what they don’t want to hear, they appreciate it in the end when they realise that without professional agency guidance, they would have been thousands of dollars worse off.
In mid August, we became aware that financial organisations were becoming increasingly busy with lending and pre loan approval enquiries and we knew that sooner or later this would flow through to increased activity in the housing market and add to this, stick levels right across Perth has reduced noticeably as sellers either gave up and removed their homes from the market or went down the rental path.
Then all of a sudden Spring arrived and September had seen us have one of the busiest months in Residential Sales ever.
With rental priced on the increase and interest rates on the decrease, it was only a matter of time before the residential housing market tap was turned on again and let’s hope it continues to have a positive flow for quite some time.
If you require an up to date valuation of your home please contact our office on 9499 6000 and we’ll catch you again next time after ‘Another Big Month in Real Estate’.
Miguel De Freitas and the Team at De Freitas & Ryan
