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Perth property market report

May 13, 2020 by Peter Fletcher


Perth property market infographic from REIWADespite the economic doom and gloom reported by mainstream media lately, REIWA figures point to the Perth property market being in better shape now than it was this time last year. 

For the week ending 10th May just gone there were 527 sales across the Perth metro area. Compare that with the 505 for the same week last year. 

That’s an improvement of over 4%.

Clearly buyers have formed the view that neither COVID nor the predicted economic damage caused by the non-lockdown lockdown is reason enough to put their lives on hold.

Buyers are back and they’re buying!

But buyer activity is only half the story.

Since late 2019 listing stock levels have been trending downwards. 

Today there are just 11,611 properties on the market. Twelve months ago that number was 16,593 last year.

Over the past 12 months stock levels have fallen by 30%!

And they’ve continued to trend down despite the so-called Corona crisis, falling 5% in the past month alone. 

That decline is a clear indicator that, despite the swirling chatter about unemployment and recession, property owners believe that real estate in Perth is worth holding.

And that bodes well for the future of property prices in WA. 

I’m keen to hear your thoughts on the direction of the Perth property market in the comments below. 

Filed Under: Industry news, Real Estate Tagged With: Perth real estate, Perth real estate market, property, real estate

Perth property market takes a holiday

April 27, 2011 by Peter Fletcher

The number of residential property sales in Perth fell sharply last week as agents and owners took an extended break over the Easter/ANZAC extra-long weekend. Just 61o sales were recorded, well down on the previous week’s total of 1060.

Whilst the volume of sales were lower than the same week last year, there were only 2 working days in the past week with 3 public holidays and the weekend accounting for the balance. Almost certainly many sales went unreported and will be accounted for in next week’s statistics.

There was a small fall in listing stock levels (down from 18,206 to 18,015) despite the lower volume of sales as sellers paused their marketing campaigns over the school and public holidays.

In the northern suburbs Nollamara and East Perth continued to show strength with 11 and 9 sales respectively. In the south Thornlie, Canningvale and Forrestfield were the standout performers with 12, 9 and 9 sales apiece.

Stock volumes of both houses and units fell slightly during the week. Land bucked the trend with an increase of 20 properties to 3,102.

While few conclusions can be drawn from this week’s data it seems the trend of the market pulling in opposite directions continues. Sales of residential properties continue to show modest strength but increasing stock levels continue to exert downward pressure on prices.

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Filed Under: Industry news Tagged With: market, Perth, property

About Peter

Speaker, trainer and coach. I write about living, loving and working better. Love a challenge. More...

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