MAR­KET STEAD­IES

Eastern Reporter - - Residential -

THE Perth prop­erty mar­ket re­mains sta­ble, with the me­dian house price and me­dian rent hold­ing steady for the third and fifth con­sec­u­tive month re­spec­tively.

In reiwa.com data for the three months to Septem­ber, the me­dian house price de­creased marginally by 1 per cent to $510,000.

The me­dian rent price was un­changed at $350 per week.

Stock lev­els in both sec­tors de­creased, with Perth prop­er­ties for sale down 1 per cent in Septem­ber and 8 per cent lower com­pared to last Septem­ber.

De­spite mostly sta­ble con­di­tions, ac­tiv­ity lev­els in the sales and ren­tal mar­kets re­duced over the month, with 1481 pre­lim­i­nary sales recorded and 4266 prop­er­ties leased.

REIWA pres­i­dent Hay­den Groves said his­tor­i­cally sales ac­tiv­ity slowed at the start of spring due to school hol­i­days, pub­lic hol­i­days and the AFL footy fi­nals, in­creas­ing in Oc­to­ber with the peak tra­di­tion­ally oc­cur­ring in Novem­ber.

De­spite the gen­eral de­cline, a num­ber of sub-mar­kets recorded im­prove­ments in sales vol­umes.

“Joondalup South was the top per­form­ing sub-mar­ket in Septem­ber for sales ac­tiv­ity, record­ing a 24 per cent lift over the month, fol­lowed closely by Kwinana with a 21 per cent in­crease in trans­ac­tions,” Mr Groves said.

“The Bel­mont and the Western Sub­urbs sub-mar­kets also posted strong re­sults, both ex­pe­ri­enc­ing an 8 per cent lift in sales.”

In the ren­tal mar­ket, Kala­munda was the top per­form­ing sub-mar­ket for leas­ing ac­tiv­ity, record­ing a 7.9 per cent in­crease.

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