Valuating a Property in Perth and Western Australia

House price is an important factor in positioning your property for a quick and successful sale. Selling My House highly recommend you access the services of a professional property  valuer (certified practicing valuer) to get this right. We’ve also provided several tips in delivering a property valuation for you to sell your house or property. 

When valuing your property consider where the market is positioned at that point. In a boom property market house values in Perth and WA will normally be pitched to the higher end of their worth, while in a low period your property valuation needs to be at the lower end of their worth. Outlined below are some factors that will determine house prices and real estate valuations throughout Perth and WA 

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What can determine house and real estate prices in Perth & WA

External Factors

• Lending Rates – In a high interest rate environment less people tend to borrow due to cost. This can tend to put downward pressure on real estate values due to less potential property buyers. This in turn decreases demand putting downward pressure on property values. The opposite generally occurs in a low interest rate environment which puts more buyers in the market which in turn can push up the value house, land and property prices across Perth and WA.
• Interstate Migration–   Job or lifestyle opportunities can create increases in property values in Perth and WA. More people moving to the state means more demand for real estate which means your property valuation can see an upward trend. Discuss this with your  Perth or regional WA real estate valuer.
• Development – Property developers look to population trends to gauge housing stock however there are sometimes gaps. Oversupply of development can put downward pressure on house values. On the upside an undersupply in conjunction with increase population growth will see house prices in Perth and WA increase. 

Internal Factors

• Property Features– Property valuers take into account a number of key factors  to attain your house and property value. Aspects including block size, number of bedrooms or bathrooms and age / era will determine the value of your house in Perth or WA.

Location–  Another major aspect in determining property values in Perth and WA is location. Regional locations in Western Australia with high employment due to say,  mining will see high house prices while Perth house prices can be determined by location to amenities, city, river and ocean views or access to services on to services. These facets can be positive to a property valuation.

In consultation with your property valuer consider the above apects. Selling My House have also incluidng a real estate valuation tools that assist in valuing property and attains research to the market. Take the link to our complimentary property valuation tool.  

 

 

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