Know the reason why Perth property prices are tumbling
According to the expert property valuers the Perth property market is falling down and their experience can sense that – Perth property prices are not going to rise in coming months. They suggest the investors should invest wisely in the housing market as the time is crucial. It has observed that 24 percent price drop has been recorded in the Perth property market in the last 10 years. Which is really devastating. It has brutally disheartened the investors who had purchased the property with the expectation that their property price will raise every year.
The low rental incomes and tenant vacancies in both the residential and commercial property sector indicating the poor property market conditions in Perth.
People first purchase the property for investment purpose either to put it on rent to generate the monthly rental incomes or to resell the property but they are neither getting nice tenants nor potential buyers. Expert says – people usually misunderstood the property cycle. Investment takes a long time (years) just to get the quick returns they put their money in real estate and start expecting to earn a profit. But in Perth, the property prices are falling and thus investors are feeling under the financial strain.
Cause of less research and less awareness about the property market people (those who are property owners) are putting unrealistic home prices even in the downmarket where property prices are falling constantly, Which disappoints the homeowners and investors. Because the price they are receiving after selling their home or property is very low to that what they were expecting before selling it.
The sad part is, this condition has no clue to get repair in this year and even in the next year too – said by a property valuer Perth.It is calculated that house prices in Perth will fall down by 3 percent this year and another one percent in next year that would indicate the property price falls into the sixth consecutive year.
Expert says – Home buyers are interested in purchasing when the property market is cooling down. According to experts — it’s a great time to buy a home especially for those who want to buy their first home as they can bargain for the best property they want. Adding to property valuers (as they are the experts of the market and know well about the property world) – It’s a ticket for the first time home buyers to enter into the property market.
The downfall has been noted to such a great extent that experts are not even seeing any hope in the increase dwelling values in near future.
The Perth investors are in dilemma it’s good for them to hire a property valuer Perth and get the suggestion from them. Property valuers can easily sense the opportunities in the property market as they are the keen observer of the property market and its current trend.
For more information contact property valuer Perth for the best property valuation services.