According to REIWA, listings in The City of Belmont have fallen to their lowest level in many years. With 197 properties listed for sale representing approximately 1.3%, the area has become a seller’s market. With the median price for the six suburbs – Belmont, Rivervale, Ascot, Cloverdale, Kewdale and Redcliffe – being lower than the Perth median and being only 4 to 9km from the CBD the area is growing in popularity particularly with First Home Buyers and investors. A large number of buyers are in the mining industry. The prices as well as the proximity to the airport has made this a hotzone for young FIFO buyers entering the market both as owner occupiers and as 1st time investors. Home open numbers are up and new listings are often seeing multiple offers at or before the first home open. Last week an older property on McLachlan Way Belmont asking $450000+ had 10 buyers view the VIP open before it hit the internet and sold with 2 offers for $475,000. This same property had been on the market exactly a year ago and could only attract offers at $430,000.
If you are looking to sell your property or require property management services please call 08 9277 3555
Whenever major geopolitical tensions occur, particularly in the Middle East people naturally ask whether global events will affect property markets closer to home. With renewed tension between the United States and Iran making headlines, some buyers and sellers are wondering whether the Perth property market could be impacted. The reality … Read more
Online property auctions have become more common in recent years as real estate agencies experiment with digital sales platforms. They are often promoted as modern, convenient, and transparent. However, when you look closely at how auctions actually work, online auctions often weaken the very factors that make auctions effective in the first place. While traditional auctions can sometimes generate strong competition between buyers, online auctions frequently struggle to create the same momentum. Understanding these differences is important for sellers deciding how to take their property to market.