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Did the 0.25% cash rate increase affect you? Have Perth House Prices Peaked?
By: Team Raspa
May 13, 2022

It has been just over a week since the RBA announced the increase in the cash rate target from 0.1% to 0.35%.  What are we noticing?

We saw a slight decline in general buyer activity over the last weekend, compared to the huge numbers we have been accustomed to over the previous weeks; will this be the new normal? The fact is, it’s almost impossible to predict what the market will do over the coming months, however, we expect this small decrease in buyer activity to be temporary. History shows that buyer activity usually slows in the weeks leading up to an election and therefore, we believe the market still has a lot of steam left in it.

While demand levels did drop slightly in the past week, supply levels still remain extremely low land we expect these low supply numbers to carry the Perth market through the rest of the year. For example, in March 2019, Perth listing levels reached approximately 17,000 (properties on the market)! Right now, we are at current boom near-record lows of 8,099 (properties on the market) - meaning there is still a serious lack of supply in the market. There just aren’t enough properties to fulfil buyer's demand, which means it is still a great time to sell right now.

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Team Raspa
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