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Opportunity for Greater Affordability Arising in WA

By Kevin Kelly

If you've been considering investing in real estate in Bunbury, now may be the ideal time.

The first three months of 2014 have seen sales slow down in Western Australia, according to an April 1 media release from the Real Estate Institute of Western Australia (REIWA).

"There was little change in overall sales turnover for the quarter, down by only 2 per cent, however, it's noteworthy that the March quarter was down by about 6 per cent on the same period last year," said REIWA President David Airey.

Mr Airey went on to describe the first quarter of 2014 as "choppy", with sales declining in recent weeks and the number of properties listed for sale on the rise. In fact, Mr Airey said that overall listings are now at their highest level since December 2012.

"For several quarters the number of listings hovered around 8,500 properties but now seem to be trending back to a more usual 12,000," he said.

This is good news for prospective home buyers, as more inventory on the market typically translates to more affordable prices.

With the official cash rate remaining at its historically low level of 2.5 per cent, and competition for real estate on the decline in WA at the moment, purchasing property now could be a smart move for buyers in the Bunbury region.

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