RECENT RISE IN SALES
IN the four weeks to April 10 2017 there were 169 local property sales across houses, units and land which is an increase of 31 per cent over the four-week period. Compared to the same time last year, sales are higher by 59 per cent.
Overall Perth market sales have increased to 2624, a rise of 11 per cent over the four-week period and remains 26 per cent higher than the same time last year. Mt Pleasant tops the list for the highest number of sales at 20.
Properties available for sale in the local area have decreased by 1 per cent over the past four weeks but is 6 per cent higher than the same time last year.
Total listings in the Perth metro region have remained stable over the four-week period but is 3 per cent higher than the same time last year.
The average time to sell in the local area has increased by one days to 67 days for the three months to March 2017. The average time to sell in the Perth metro region has increased by four days to 72 days.
REIWA members reported 199 total properties (houses and units) leased for the fourweek period, an increase of 10 per cent over the past four weeks and is 34 per cent higher than the same time last year.
Listings in the Melville Times area have remained stable in the four-week period and are 2 per cent higher than the same time last year.
The overall market has seen listings rise 1 per cent over the four-week period and is 6 per cent higher than the same time last year.
The overall median weekly rent for the local area for the three months to March 2017 is $400 per week, which is $50 lower than the three months to March 2016.
Similarly, the overall median rent for Perth has seen a $40 decrease in the three months to March 2017.
The average time to rent in the local area has decreased to 48 days in the three months to March 2017. 20 18