Realmark founder and managing director John Percudani said traditionally summer, along with spring, is regarded as the most advantageous time of the year to bring a property to market.
“The current market conditions add even more emphasis to it being a favourable time if considering selling an investment or other property in WA,” said Mr Percudani.
“The owner occupier buyer demand is intense across most property sectors, and the low listings in market has increased buyer competition.”
REIWA data shows properties are being sold quickly, recording a median time on market of 12 days for unit titles and a median of eight days for all property types.
It reveals that there is currently 41% less properties on the market this December compared to last year.
“Investors are actively acquiring at this time, due to yields and security offered by the WA market,” said Mr Percudani.
“Although interest rates have increased, buyer activity remains positive and likely to continue into the first half of 2024.
“Beyond this time conditions may shift, and the selling outcomes are unknown, emphasising the importance of acting now when the market dynamics are slightly more predictable.”
According to the REIWA data, after months of stability, unit prices rose to a medium of $405,000, up on the $400,000 published at the end of October.
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