Navigating the Perth Property Market in July / August 2024

The Perth property market in 2024 has proven to be one of the most dynamic in Australia. As we move through July and August, real estate professionals and investors alike are keenly aware of the market’s strengths and challenges. With a combination of rising property values, limited supply, and a competitive atmosphere, it’s crucial to understand how to navigate this unique landscape effectively.

 

 

Market Snapshot: Growth Amidst Competition

Perth’s property market has continued its upward trajectory, with the median house price now sitting around $713,811 – a 10.4% increase compared to the previous year. The demand for housing has far outstripped supply, with properties typically selling within just 10 days of listing. This rapid turnover underscores the competitive nature of the market, where buyers need to act quickly, and sellers must present their properties in the best possible light.

 

 

Strategic Presentation: The Key to Standing Out

In such a fast-paced market, first impressions are everything. This is where professional real estate services can make a significant difference. High-quality photography, for instance, is no longer a luxury – it’s a necessity. Buyers often make decisions based on the visual appeal of a listing, and stunning, professionally taken photos can highlight the best aspects of a property, making it stand out in a crowded marketplace.

 

Additionally, with winter clouds hanging over Perth, sky replacement services can brighten up your listings, turning overcast scenes into inviting, sunny landscapes. This small adjustment can dramatically enhance the attractiveness of your property, catching the eye of potential buyers scrolling through online listings.

 

 

Leveraging Technology: Virtual Tours and Drone Shots

Technology plays an increasingly important role in the Perth market. Virtual tours offer potential buyers an immersive experience, allowing them to explore properties in detail from the comfort of their homes. Meanwhile, drone photography provides unique perspectives, capturing the full scope of a property and its surroundings – an essential feature when selling homes with expansive outdoor spaces or picturesque views.

 

 

Conclusion: Seizing Opportunities

As the Perth property market continues to grow, those who adapt and innovate will be best positioned for success. By leveraging professional visuals, embracing technology, and understanding market trends, real estate professionals can navigate the challenges and capitalise on the opportunities that July and August 2024 present.