Sales Market Update Jan 2017

Sales Market Update Jan 2017

Sales Market Update Jan 2017

Happy 2017 and welcome back to a beautiful Broome Wet Season. We can honestly say it is a pleasure to see the rain in such abundance bringing life to the town washing away the dust and negativity. This is a great start to the year and we believe it will be the same for the real estate market.
 
We have seen a decrease in properties for sale with just over 270 properties including land for sale. This is a sign people are comfortable economically and prepared to hang on to their properties for now. In turn this means there is not a lot of property to choose from as there was before so may increase buyer competiveness. The signs economically for Broome are still good too with word out about Prelude getting closer to heading for the Browse and also continual forward movement for the Thunderbird Mineral Sands mine between Broome and Derby with public talks continuing in early February. All of this just means more stability and future growth, a very welcomed start to 2017.
 
So what does this mean, in my opinion it will mean buyers will need to be a little more urgent when buying and sellers may hopefully see shorter days on market. As far as pricing goes we believe it will still be a while before we see any increases but we are hoping we are at a point where we can stop holding our breath and start seeing some light in the future. All in all we are feeling confident and would love to give you an idea personally of where your property is situated in the market so contact us on 08 9192 2000 and one of our sales team will be happy to chat.

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