Perth Property Bargains

Interesting times indeed... Perth's property has market has stalled in the past year .. but it's tipped to head up - that means bargains are ripe for the picking now. There's no doubt THIS is a buyers market... the equation is a simple one.. more properties than buyers

This time last year we had 10.300 when we started the year so we've got 5000 more htan a year ago. We normally need around 12.000 so we're slightly up this year we were a little under par last year

REIWA president Alan Burke says he believes we're looking at a flat 2011 with an upward move in prices predicted in a year... some say it could even been sooner

Our belief at REIWA is that we've got a little bit of an over supply situation at the moment that will not put any pressure on prices for maybe up to 12 months 2012 looks very good

There's a lot of choice and if sellers arent' willing to negotiate then they just won't get the sale

Raquel De Brito is real estate editor at the West Australian.. she says a key to spotting a bargain can lay in the amount of time a house has been on the market

The average days on market has increase quite significant'y as well I think it's blown out to an average of two months on teh market so it's definately taking sellers a lot longer on average to sell thier properties but having said that there are some properties that come on teh market and are snapped up quite quickly but the average is over two months at the moment

Some properties are worth less than what they cost a few years ago - some experts calculate average homes are being discounted by around $30,000 on listing price.

There's a lot of choice and if sellers aren't willing to negotiate then they just won't get the sale

But where do you start to negotiate on the listed price

A cross the board we're finding that about 6 1/2 % is the discounting factor from an asking price but that is an average so there may be some that are right on the money, right on the price and it's a matter of paying that rice in order to take that property in competition to other offers and others that have been around a long time it might be a matter of coming off quite considerably

The top end of town is where the biggest bargains are - the western suburbs.. cottesloe.. reductions of hundreds of thousands of dollars are to be found.. but lets face it most can only dream of that... but at the other end of the market too there's great buys... the key is the more listing the more bargaining power

Areas like Rockingham also started the year with more than 1000 listings so there's a lot of choice for buyers there and obviously a lot of competition so more bargaining power

Other suburbs worth a look at for good growth according to experts RP data include Wellard Tapping and Bertram as well as Ashfield closer to the city

I think the proof of the pudding you can see that there are many bargains to be had at the moment