PROP­ERTY SALES LIFT ACROSS MAR­KET

Midland Reporter - - What's On -

LO­CAL prop­erty sales in­creased 16 per cent to 103 in the four weeks to Novem­ber 6, which is 7 per cent higher than the same time last year.

By com­par­i­son, the Perth metro area saw sales ac­tiv­ity in­crease 12 per cent over the same four-week pe­riod, which is 3 per cent higher than the same time last year.

High Wy­combe was the top sell­ing sub­urb in the lo­cal area, record­ing 18 sales. Lo­cal list­ings in­creased 2 per cent over the past four weeks, which is 9 per cent higher than the same time last year.

Over the same pe­riod, the to­tal num­ber of prop­er­ties for sale in Perth in­creased by 8 per cent, which is 5 per cent lower than the same time last year. It took lo­cal sell­ers about 83 days to find a buyer in the three months to Oc­to­ber 2017, which is 15 days slower than the Perth metro re­gion.

REIWA mem­bers re­ported 165 rental prop­er­ties were leased in the four weeks to Novem­ber 6. This is 6 per cent higher than four weeks ago and 32 per cent higher than the same time last year.

List­ings in the Re­porter area fell 9 per cent over the past four weeks and are 12 per cent higher than the same time last year.

The over­all mar­ket saw list­ings for rent de­cline 4 per cent in the four weeks to Novem­ber 6 and 12 per cent when com­pared to the same time last year.

The lo­cal area’s me­dian rent price de­clined $20 to $320 per week for the three months to Oc­to­ber 2017.

The Perth metro area also ex­pe­ri­enced a de­cline over this same time pe­riod, drop­ping $15 per week.

It took land­lords 58 days to find a ten­ant for their rental in the three months to Oc­to­ber 2017.

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