Corrected, Not Crashed: Shane Beaumont on Perth's EOFY Market
from The Crunch with Crib Creative Hosted by Crib Creative
It's a new financial year so we pulled Shane in for his read on where the Perth market is sitting. His take? The market hasn't crashed, it's corrected, and that's a healthier place to be. What you'll take away: "Less panic, more logic." Owners stuck on the peak they think they missed are ignoring the years of growth behind them. Buy at $420, watch it hit $920, sell at $850 and calling that a $70k loss is a trick your brain plays. You never had the $920. The lag in data is the real trap. Sales from the hot Jan and Feb run in low-volume suburbs like Wembley are only settling now, and fresh sales stay off the public record for another 12 to 16 weeks. Today's real prices are softer than what's showing online, so honest, live conversations matter more than ever. Mind the 5% deposit scheme ceiling. With the median house price now over $1M and the scheme cap sitting at $850, buyers get squeezed right above that line. A buyer using the scheme can finance at $849 but not $855, which quietly caps growth just under the cap. Predictions to bring back in December: listings pushing toward 6,500 by the end of August and 8,000- 9,000 by year end as investors sell into the new financial year, plus a tightening rental market. With immigration steady and investors chasing every dollar of rent, Shane reckons rents and prices both climb.
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