PROPERTY MARKET THRIVES DESPITE THE IMPACTS OF COVID-19

New land sales are at a record high according to recently released figures from UDIA WA, following the announcement of the Federal and State government housing stimulus measures in June.

According to the latest Urbis/UDIA WA Purchaser Sentiment Survey, 3322 new land lots were sold in June 2020, the highest amount of new land sales for a single quarter since the survey started in 1990.

The sales activity is closely aligned with the Purchaser Sentiment Survey which showed 48% of people were positive about buying in the current market, which is an increase of 60% for those looking to purchase as an owner/occupier.

In short, the positive sentiment that has been reflected in the surveys and the recent land sales figures continue to bring ongoing confidence to the Perth property market.

This is a brief summary of the article ‘Positive market sentiment despite COVID-19’ by Col Dutton | The West Australian | Monday 17^th August 2020.