Review of the Last Year
The Typical Value has shown a increasing trend since January 2017.
Stock on Market peaked in July 2016 and has decreased ever since which is positive sign the market is improving.
Days on market has continued to trend sideways since December 2016 which means that it will stay stable over the next 6-12 months.
Given that the DSR (Demand / Supply Ratio) is at 18/48, means that there are still buyers in the market making selling property possible providing you are priced and marketed well
Investors beware, if you have a tenant at the moment do what you can to retain them. There is a high vacancy rate for this area at 4.38%, so you should expect longer leasing times.
Predictions for the Next Year
Typical Values will follow in the opposite direction to the trend in the number of Days on Market and the amount of Stock on Market for sale.
Given that one is in a downward trend and the other is stable, with the mixed signals I predict the Typical Value to trend sideways over the next 6-12 months.
Looking at the trend in the vacancy rate, being upward I expect that rental prices will continue to decrease over the next 6-12 months.
See Stats & Graphs Below
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Disclaimer: The information contained in the report is sourced from Boomapp.com.au. The review and predictions section are the informed opinion of an Investors Edge Real Estate Sales Consultant and are for information purposes only, while every care has been taken in formulating this opinion based on market trends and there is no certainty as to how a suburb will perform. So the opinion is not to be solely relied upon when making important property decision.