According to the all agents data exchange list locally in the Greater Bunbury area homes and units for sale have dropped to a twelve month low from 1574 down to less than 921, this representing a drop in properties by 41.48%.
Richard Morgan, Managing Director of Harcourt’s Bunbury went on to say “General enquiries for homes for sale have dramatically increased over the past few weeks. Normally we see seasonal increases as we get closer to spring but this year it looks like it has started early.”
What could this drop in supply mean?
Well Mr Morgan answered this question by saying “The old rule of supply and demand has to take effect soon, what you could say is that we are seeing a change from a Buyers Market moving towards a Sellers Market.”
Which price homes are selling quicker?
“We are finding homes under the $450,000 marketing selling quickly, homes over this price bracket are still proving challenging but this is changing.”
Mr Morgan went on to say that if any one was waiting for home pricing to drop lower may be taken back by the current changes to the market. He said that if you are looking at purchasing and find a home that you are interested in to act sooner rather than later as we are moving toward our normal seasonal increase of Spring.
For further information or a copy of Harcourt’s Bunbury Market Monitor is available from their website www.bunbury.harcourts.com.au or for a more detail Market update on your specific area contact Richard Morgan on (08) 9722 6666.