Welcome to the April edition of “The Hammer Report”.

Volumes for April were dramatically effected due to the disruption of School Holidays, Easter and ANZAC day, however as much as volume was down (approximately 60% to normal monthly valued offered) some outstanding results were achieved giving more and more confidence to incubating sentiment that it’s time to get in, get back in or move on in the market.

Evidence of market conditions improving can be found in a number of sectors with a couple of “under the hammer” results during April supporting an increase of confidence. The Commercial sector has always been a strong barometer and when a highly competitive auction in Oxford St Leederville achieved a result of $3000 per square metre many investors left the auction with a wry smile knowing their commercial portfolio just got revalued – in a positive vein.

The Perth apartment market has had its challenges over the past few years however when you have an Auction at 6pm on Wednesday evening with 6 registered bidders with the final two bidders competing hard that concluded with an outstanding under the hammer result one can only be positive and enthusiastic with where the world is heading.

*Source: REIWA