Monday, November 22, 2010

Sellers Warned to Pull Out of Market

The Real Estate Institute of WA is warning property sellers to take their investments off the market or risk selling below their asking price.
REIWA figures show property sales in Western Australia are down 30 per cent compared to last year. The Institute's deputy president David Airey says there is a 40 per cent over-supply of property in Perth which has created a buyers market.
"There's around 17,500 residential properties on the market which is somewhere like 5,000 properties more than our normal long term average," he said.
"It's a fabulous time to buy, certainly not a good time to be selling if you don't have a reason to sell."
More here

1 comment:

Chip Stone said...

Is it really a fabulous time to buy? Why are there so many people trying to sell? The rhetoric doesn't quite make sense.

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