Ensure you never miss an issue of the
real estate business bulletin
ACTON's April sales signal rebound in WA market

ACTON's April sales signal rebound in WA market

by Reporter 0 comments

Simon Parker

ACTON, a WA-based real estate group, has posted a 49 per cent on-year surge in sales in April, beating the usual Easter slowdown and signalling an improved year ahead.

“Historically our figures fall in April, usually due to Easter and school holidays,” said ACTON managing director Graeme Baxter. “This wasn’t the case this year and it will be very interesting to see the May figures.”

“At this stage I’m feeling very confident about the direction of the market for 2012. There appears to be a good balance between buyers’ and sellers’ attitudes.

“Sellers are now pricing for the market and will consider all genuine offers.  Buyers are no longer expecting to get huge price discounts, however they still expect good value for money.”

ACTON’s sales figures were 15.34 per cent higher than the March result, and 49.32 per cent higher than April 2011. ACTON's April result comes shortly after figures released by the Real Estate Institute of WA (REIWA) revealed a jump in activity in the state's property market.

Mr Baxter said last week’s rate cut would support a market that is continuing to show signs of recovery.

“The ACTON Group has had yet another strong month, and that followed small rate rises from the banks in the first few months of the year,” he said.

“The rate cut from the RBA was significant and allowed the banks to pass on a reasonable cut to mortgage holders. We should see the effect of this over the next few months.”

ACTON said that one area that continued to perform well was Mandurah, located 60km south of Perth. “Sales in that region have always been strong, but have been outstanding this year,” the company said. “April was a record month for ACTON Mandurah.”

Other areas also performing strongly include ACTON’s regions in the western suburbs, and prime riverside locations. Trade up buyers were also more active.

While the strong sales turnover is good news and suggests ongoing confidence in the market, ACTON said sellers needed to remain realistic when it came to pricing.

“More sales do not necessarily mean a jump in prices,” said Mr Baxter.

“There are close to 13,500 properties on the market and buyers still have a lot of choice.  Price is the key to selling in a reasonable time frame.  If buyers don’t like the price they can, and do, go elsewhere. 

“However, if the good sales results continue over the next few months I would definitely expect to see a gradual rise in prices in the second half of the year.”

le>.b-autolinks{text-decoration:underline}.b-autolinkshadowbox { display: inline; position: relative; cursor: pointer; color: #428bca;} .b-autolinkshadowbox:hover > span { display: block !important; } .b-autolinkshadowbox__links { white-space: nowrap; z-index: 999; display: none; left: 0; border: 1px solid #bfbfbf; border-radius: 5px; font-size: 12px; top: 12px;color: #000; padding: 10px; position: absolute; background-color: #FFF; box-shadow: 0px 0px 20px 1px #bfbfbf; } .b-autolinkshadowbox__links > a { display: block; padding: 3px 0; }
ACTON's April sales signal rebound in WA market
lawyersweekly logo
promoted content
Recommended by Spike Native Network
Listen to other installment of the Real Estate Business Podcast
reb top 100 agents 2017

The REB Top 100 Agents ranking is the foremost ranking of agents in Australia. It has set the bar for excellence in Australian real estate. To be ranked as an REB Top 100 Agent is the standard real estate professionals strive for. See the full 2018 ranking here!

featured podcast

featured podcast
The difference between an average agent and one who dominates

McGrath Crows Nest’s Peter Chauncy is number 10 in this year’s REB Top 100 Agents ranking. Peter, however, is more likely not surprised ...

View all podcasts

Would you consider working for Purplebricks or a similar 'DIY' model?

Yes (7.2%)
No (80.9%)
Perhaps - make me an offer (12%)

Total votes: 209
The voting for this poll has ended on: July 13, 2018
Do you have an industry update?