By BN | Wednesday, 16 September 2009
Western Australian looks to be the next property hotspot, according to figures released by RP Data.
The research group's Property Market Activity Index revealed a 17% jump in industry activity by real estate agents since the beginning of June. The results far exceed finding from the same period last year by 31% - a clear indication that the area is making a recovery.
The jump in activity in WA is coming off a very low base, according to general manager David Williams.
"The Western Australia market has been in the doldrums for some time after recording an impressive level of growth during 2006 and 2007. Over the year to June we have seen Perth sales volumes increase by almost 70 percent as the Perth market starts to become reinvigorated," Williams said.
The study measures the number of Comparative Market Analysis reports produced on individual properties around Australia by real estate professionals, which agents use to provide a price guide when listing a property.
Williams suggested that the real estate market will expand over the coming weeks as buyers take advantage of warmer weather to investigate properties
