- Posted By Rebecca Bell
In Broome we've seen downward pressure on prices over the past three years and if people have not needed to sell they have held off and as a result sales volumes in the Broome region have been low.
As we move into a transition market we are seeing more sales with downward pressure on listing stock which will help improve selling conditions. Given the real estate market goes in cycles, those who are in a position to invest right now have a unique opportunity particularly if they take a longer term view of their investment, they will enjoy a strong return when prices rise.
We are feeling confident for Broome's future with the recent projects being introduced to our town and future one's also being considered. Incase you missed it, the most recent being a possible northern Australian hub for the US Navy, you can see the article by clicking here.
What about the future for Real Estate? Interestingly QBE Insurance has released a report forecasting the property market in 2020. Produced by BIS Oxford Economics, the QBE Australian Housing Outlook 2017–2020 report shows that, overall, Australian houses are generally set for growth (from original article which can be found clicking here).
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