Perth is the place to pick up a bargain
Investors hoping to break into the Australian real estate market are advised to head for Perth where a lack of buyers is forcing prices in a downwards direction.
Data from the Real Estate Institute of Western Australia show that 2010 was a terrible year for residential property sales across the district of Perth - sales fell by 30 per cent from the previous year.
Current figures from REIWA show that the amount of homes currently for sale in Perth is heading for 16,000 that is an increase of almost 50 per cent on the same period last year. With so many established properties on the market potential buyers are in a great position to negotiate on the asking price.
City agents are not expecting the buyers market conditions to continue beyond the latter part of the year and advise canny investors to pay a visit sooner rather than later.