The very best of the Western Australian real estate industry claimed their awards at the 2022 reiwa.com Awards Ball on 27 August.
CEO Cath Hart said on REIWA’s website that “this event celebrates the state’s top performing agents and agencies during the 2021-22 financial year. The 2021-22 financial year was an extremely busy time for WA real estate agents, and it was incredible to come together as an industry after another solid year of market conditions to acknowledge the successes of WA’s top agents.”
Read more about the awards here.
The state’s “Top Salesperson – Residential Property Marketing” Lily Chong from IQI WA also took out another award. The team she leads at IQI WA was named fourth Top Office – Residential Project Marketing.
Here’s what Chong says about the outlook in Perth:
“The market has gone quieter because people are on hold with their decisions. The rate increases have caused many buyers to stop and see what happens. They don’t know how or when the interest rate increases will stop.
“Developers have put many new projects on hold, which is reducing the available stock. That means they can be firmer with their prices. Last year, we could still negotiate for free inclusions or discounts. This year, developers are starting to realise they can be very firm or even increase their prices. And they need that flexibility because their building costs are also going up.
“More and more buyers are coming back from overseas and from the Eastern States. These are new residents, students, and migrants. We just had clients from Texas, Sydney, and Adelaide. Those coming in want to rent first, but rentals are so scarce that many will be forced to buy because vacancy rates in Perth have dropped to just 0.4% – the lowest ever recorded.”
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