Well I cant make that decision for you, but I can give you a few thoughts that may help you make that decision. Properties are definitely selling if priced correctly for this market. As per another one recently listed, Dover Road Scarborough, that sold in the first week, this is happening in all suburbs. If the price is right there will be a buyer on your door within the first few weeks.
Firstly do you have to sell, if so then you haven’t any choice, sell.
Secondly, if you are thinking, maybe-maybe not, upgrade, downsize then the issues I see are, not too many properties out there to choose from. Currently in Perth there are under 10,000 properties on the market. When there was an oversupply, back a couple of years, we had 17-20,000 on the market. So your choice is limited. Great if you have a second property or family member you can move into with, then you can take advantage of the shortage of properties & sell.
( Buyers don’t be fooled into believing this is a buyers market. If you hold back on the offer someone else will step in and take it from under you. )
Thirdly, should I wait till the market gets better? How much better do you want it to get? If you are waiting for another 2005-2007 market then you maybe waiting for many a years. There is a variety of opinions out there in regards to where our property markets are heading, ie growth. I read in the media huge predictions across the Perth area, then another month the predictions going in reverse . Again hard to make a real judgement. One thing I’m pretty clear on is that different areas are performing quite differently. Think about this. If you are thinking of selling now or in the next several months to a year or so then I would suggest take advantage of the low supply of properties & sell NOW. If you are unsure, now or in several years time, in 3-5-7 years from now I would be sure that the property market growth will be greatly higher.
Long term the property market is always a great place to be in….Ben Ryder