National Property Market Update

Curious to know what is happening in the property market from an Australian wide perspective?

An update below from Ray White's CEO of Growth, Mark Mcleod

As always, consumer sentiment continues to be heavily influenced by the combination of local area market conditions and the overall macroeconomic environment. The buzz sparked by the Reserve Bank’s (RBA) early October decision to cut the official cash rate by 0.25% continued throughout last week, although the likely effect on the economy remained unclear.

In an unpopular move, ANZ finally joined the other major lenders late on Friday by announcing it would not pass on the full cut to consumers. A news.com.au article reported that the lender’s reduction of 20 basis points takes the ANZ variable rate to 6.6%, level with Commonwealth Bank. While acknowledging global funding costs have actually dropped, ANZ chief Philip Chronican blamed intense competition for deposits for the increase in overall costs.  

According to the Sydney Morning Herald, consumer confidence has risen for the second month in a row, based on the latest Consumer Sentiment Index produced by Westpac and the Melbourne Institute. The number of optimists now almost equals pessimists with many households feeling more secure in their finances, while remaining cautious about the long-term economic outlook. Despite the increase, Westpac’s Bill Evans told Property Observer the result was disappointing. Meanwhile, the International Monetary Fund (IMF) have downgraded its 2013 Australian economic forecast, warning of sluggish economic growth globally throughout this year and next.

The Herald Sun reported domestic unemployment is now at its highest level in more than two and a half years after the release of the latest data last week showed the jobless rate jumped to 5.4% in September. Mining giant BHP has announced it plans to slash jobs due to weakening conditions in China and falling commodity prices. In response, most economists are now predicting another interest rate cut on Melbourne cup day, although consumers are now sceptical of the banks passing the savings on.

Weekend Update - 13th & 14th October

Hope you had a relaxing weekend and managed to get some jobs completed. If you were out looking at homes, you would of seen a good number of open homes and buyers out looking. With the weather warming up, there are new buyers out looking to upgrade, downsize or make a lifestyle change before the new year. Interest was up for all properties but in particular, new properties to the market are getting the best response. If you are looking at selling, the first 4-6 weeks remain the most promising period to get the result you want.



A number of our new properties have sold recently just after the first or second home open. This is showing us that urgency has increased with less supply of homes and more competition from buyers. There is still talk of an interest rate decrease in the future and a recovery with iron ore prices.

With the warm weather, increased activity from buyers and less homes for sale, its a good time to consider making a move.

Have any Real Estate questions I can help with? I'd love to help. Contact me at robin.ram@raywhite.com

Weekend of 23rd & 22nd September 12

Another beautiful weekend around Canning Vale but lower numbers than previous weeks. One property under offer from last weekend activities and more interest in others. Average of 3 buyers per property spread out over southern suburbs of Perth.

Great working with a positive and supportive team. Being aware of what the office has for sale and providing information on other homes available resulted in a buyer from one of my home opens purchasing a property for sale with a colleague. Seller and buyers both very happy.

Full time commitment is required and a strong team is required and this benefits all concerned.

Would you like a copy of our home open list before the weekend?

Please feel free to email me at robin.ram@raywhite.com

Weekend Activity - 15th & 16th September

Weekend of 15th & 16th of September 12

With the weekend came great weather and lots of active buyers. Average of 6 buyers out per property with 3 offers resulting from these inspections. Big mixture of first home buyers, upgraders and investors looking to secure a property while the options are available. Many of these people requested the number of a broker many of my clients use to make sure they are getting a good rate and have the best bank for them. Fingers crossed these offers will result in some sales for happy buyers and sellers.

My Home Opens for the weekend were located in Canning Vale, Cannington, South Lake & Seville Grove. The office is handling sales for clients from Coogee to Munster to Cardup. Huge variety of properties on offer from the team at Ray White House Team. As normal, not all our homes are open and some are by appointment only. Never a problem to book a viewing on one of these properties should you be interested.

Can I be of assistance? Please feel free to call me direct on 0401 888 444 or email robin.ram@raywhite.com

Thinking of selling your home or have one for sale?

Quick post here as a reminder that my first articles on this blog all relate the process of getting your property on the market, what to do when its for sale, what to expect and what to do when the interest comes in.

Please feel free to view these at the start of this website or just email your question through to
robin.ram@raywhite.com

Sold in 2 Weeks!

Sold in 2 weeks!

Lovely 4x2 in Canning Vale with current tenant till June next year.

An amazing response with multiple buyers and offer accepted after the second home open.

Looking to get your property sold?

Email me at robin.ram@raywhite.com

Register your interest- VIP viewings!

Considering a lifestyle change?

Coming to market in a few weeks is a 4x2 home set on 2000sqm block. Renovate kitchen, side access to rear and 2 MASSIVE Sheds! located just south of Byford

Want to get in before anyone else?

Email me at robin.ram@raywhite.com