REAL estate firm Acton experienced yet another strong month for sales in May, prompting director Steve Papadopoulos to suggest the market is recovering.
“One or two good months may be considered a lucky fluke, but we’ve had six consecutive months with strong sales and I genuinely believe we are seeing a recovery,” he said.
Acton South West’s May sales were significantly higher than sales in May 2011.
“Sales have risen and fallen marginally each month, but all have been significantly higher than the 12 months previous,” he said.
“Investors in particular should look to buy. The low vacancy rate, coupled with share market volatility, low interest rates and growing rents make investing very attractive.”
Despite this upturn in Acton’s results, he feels the market still remains pessimistic.
“There is still a lot of doom and gloom out there, people are very concerned about the European situation.
“I think they should focus more on what’s happening in Australia, and WA in particular.
“I know people don’t like to listen to agents, they tend to think we’re trying to talk the market up for our own benefit, so I ask that they consider the opinions of other experts.”
Sources including Reserve Bank governor Glenn Stevens and the WA Government also have a positive outlook.
Mr Stevens recently said Australia’s glass is “well and truly half-full” when it came to the economy, with plenty of reasons for optimism.