Supply is low and demand is high!
It was a solid month for the Smith Team. As I’m sure everyone is aware, the stock on the market is extremely low. We’re actually down 27% of where we were sitting this time last year.
Naturally, when the supply is down, the demand does increase which is why our home opens have been a lot busier at the moment and things are really selling!
So when the supply is down, the demand increases and this gives us a good opportunity to put buyers again one another in competition, in turn driving the prices up.
We’ve had three sales this month; a block of land, apartment and character home so we’ve been busy right across the board. These were all very quick sales too which was great.
A solid listing month too, we had seven new listings – including a ripper in Floreat, a couple in Wembley and some fantastic investment apartments too. All in all, February had been incredibly busy and we’re looing forward to a busy March ahead.