Скачать или смотреть Pulse Market Update - Q1 2024

The first quarter of 2024 has delivered exceptional results for WA homeowners, and promises ongoing price growth for the foreseeable future.

Hear the key drivers of this growth from Pulse Property Group Director, Zac Addenbrooke:

"WA homeowners can anticipate continued price growth this year, driven by robust capital spending in the mining sector, escalating population growth, and WA's affordability relative to other Australian states. The national quarterly pace of growth has accelerated from 1.4% in Q4 of last year to 1.6% in Q1 2024. To put this in perspective, Perth’s housing market rose 5.6% in the first quarter of this year.

In addition, Mining expenditure soared to over $31 billion in December 2023, the highest since September 2016, as per recent Australian Bureau of Statistics data. This heralds positive news for Perth's property market, with increased mining investment stimulating job growth, population expansion, and driving up home demand and prices.

Last year through till September 2023, WA also saw 93,591 people relocate to the state, making it the fastest-growing population in the country. And despite robust house price growth and the interest rate hikes, WA retains its status as one of the most affordable states for housing, as indicated by the latest REIA Housing Affordability Report. There are no signs of activity slowing down.

With buyer demand continuing to climb, one of the biggest benefits from this market is that we have been able to negotiate flexible offer conditions to suit our seller’s needs. For example, over the past 12 months we have implemented offer conditions, that allowed our sellers to rent back their own home for an agreed weekly figure and period, or negotiate a longer settlement – up to 12 months; giving our sellers more time to secure their next property, as well as putting them in a very strong position to purchase their next home."

If you have any questions about your home, or would like to know more about the offer conditions that could work best for your situation, contact Zac for a confidential chat, any time, on 0437 414 178.