Over 150 conveyancers in Western Australia recently came together at the Ritz-Carlton in Perth for the Dye & Durham SettsPlus industry breakfast to hear the latest updates on the Western Australia property market.
Managing Director of Dye & Durham, Peter Maloney, provided expert analysis and updates on the Western Australia property market, looking at the macro and micro environmental factors at play influencing the state’s conveyancing volumes and stock.
“With a war in Europe, geopolitical and global pandemic continuing to affect trade and resources, in combination with rising inflation we have the Reserve Bank of Australia raising the cash rate to stem rising inflation,” says Peter Maloney. “As interest rates rise – we’re witnessing a slowing of a very hot property market – however, WA is bucking the national trend.”
“Mixed growth across capitals over the past quarter ranging from Adelaide growth the highest at 5.1% and Sydney at the lowest at 2.8%. Perth has witnessed the third best growth at 2.1%. Sales volumes are also starting to ease from recent highs, with Perth volumes trending 17% above last year and regional WA sales volume up 13%.”
Attendees were also provided with the latest updates on SettsPlus, the industry-standard Settlement software solution for conveyancers. This included announcing a suite of new enhancements coming to the platform shortly.
