Griffin Group’s Marketing team attended a Realestate.com.au Market Update event last week which explored the subtle but notable changes in Western Australia’s property market.
With the economy showing a slow upswing, there were many factors to discuss including the Federal Government cutting income taxes and the establishment of the 5% deposit scheme. APRA has also removed the speed limit on investor lending growth which has led to an evident increase in investment enquires throughout January.
Realestate.com.au indicated that although the economy may be on the rise, the market is not strong enough just yet and sellers are still holding tight. Factors such as housing finance being down and retail expenditure remaining sluggish indicate that the economy is not recovering as fast as some would like.
The team at Griffin were pleased to see that Scarborough was a top performing suburb for general email and First Home Buyers enquires for apartments in January.
The Residence, our development on Scarborough Beach Road is set to start construction this month with completion expected mid 2021. If you are wanting to jump into the property market now, there has never been a better time to claim the 75% stamp rebate. There is about two weeks left for interested buyers of The Residence apartments to claim the rebate.