Perth, Au — April 7, 2015– Perth display homes have once again experienced a decrease during the March quarter while the median house price had dipped a little at the same time. The sales turnover, when compared to March of last year, has dropped by 11 percent. But although it may have dropped from last year’s turnover from the same month, it would still be considered an improvement since it had managed to improve 4 percent from that of the last quarter.
February had experienced a slight growth in the housing sales which in itself is already remarkable following months of continues failures. But now knowing that the housing industry’s slowing state is slightly improving, as evidenced by March’s 4 percent growth, it is safe to say that the industry and its members are on the right path.
Unfortunately, even with a slight improvement, the median house price still went down 0.2 percent to $549,000.
According to the experts and analysts who conducted the analysis, the reason probably for the slowing state of the industry and the continuous fall in sales is because that more people are simply choosing to stay put.
You can say that they have become complacent. Although there are still many who are looking out for the listings and going to Perth display homes, there are also a large number that had decided to stay where they are.
Add in also the fact that while the people chose to stay in their present homes, many other houses have not been sold which is a contributing factor the reduction in sales activity.
The changes that were made by the State Government to first home buyers grant, which favored the people who had choose to buy or build a new home, back in 2013 had also played a great role.
The effect it had on the sales of the established homes had become quite significant enough for it to affect the whole market.
The problem is that the listings will continue to grow and the transactions will be submitted to declination if the first home buyers remain silent.