THE VIEW IS GOOD DEPENDING ON WHERE YOU LOOK

It seems that opinion about the current state of the market depends on where you look. On the one hand, there remains a significant number of properties that have been on the market for an extended period of time. However, look elsewhere and you´ll see much more positive signs.

Home opens are being enthusiastically attended and offers are being accepted with many properties selling within the first few weeks of the marketing campaign. In a recent Caporn Young auction for 62 Tuckfield Street in Fremantle, which was attended by nearly 100 people, the property attracted numerous bidders and sold under the hammer for a price well above its reserve price.

This frenzied auction was a clear demonstration of how a concentrated marketing campaign can create healthy competition amongst buyers and drive up the price of the property.

Another stand-out sale was a property on Hammond Road in Claremont which was sold for more than $2 million. Despite a slow start, interest in this property grew substantially as the marketing campaign progressed and, after it sold, the unsuccessful buyers were quick to express their disappointment at missing out.

While the current backlog of stock continues to put a strain on the market, it´s becoming increasingly evident that there are pockets of the market that are still shining brightly.