Surge in lo­cal sales

Guardian Express - - RESIDENTIAL -

IN the four weeks to August 28 there were 107 lo­cal prop­erty sales across houses, units and land, which is an in­crease of 23 per cent over the four-week pe­riod.

Com­pared to the same time last year, sales are higher by 3 per cent. Over­all Perth mar­ket sales have re­mained sta­ble at 2087 over the four-week pe­riod but re­mains 3 per cent higher than the same time last year. East Perth tops the list for the high­est num­ber of sales at 27.

Prop­er­ties avail­able for sale in the lo­cal area have in­creased by 2 per cent over the past four weeks but is 20 per cent lower than the same time last year.

To­tal list­ings in the Perth metro re­gion have in­creased by 1 per cent but is 6 per cent lower than the same time last year. The av­er­age time to sell in the lo­cal area has de­creased by one day to 65 for the three months to July.

The av­er­age time to sell in the Perth metro re­gion has in­creased by three to 72.

REIWA mem­bers re­ported 442 to­tal prop­er­ties (houses and units) leased for the four-week pe­riod, a de­crease of 7 per cent over the past four weeks but is 2 per cent higher than the same time last year. List­ings in the

Guardian Express area have fallen by 4 per cent in the four-week pe­riod and are 13 per cent lower than the same time last year. The over­all mar­ket has seen list­ings fall 4 per cent and are 9 per cent lower than the same time last year.

The over­all me­dian weekly rent for the lo­cal area for the three months to July 2017 is $400/week, which is $28 lower than the three months to July 2016. Sim­i­larly, the over­all me­dian rent for Perth has seen a $30 de­crease in the three months to July 2017. The av­er­age time to rent in the lo­cal area has de­creased to 50 days in the three months to July.

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