PROPERTY SALES STAY STEADY
SALES REPORTED sales by REIWA members across the Southern Gazette for the four weeks to September 1 were unchanged from the previous four weeks at 226 and virtually the same as 12 months ago.
However, within the past 4 weeks, house sales increased from 113 to 127 while unit sales fell from 103 to 90. This most likely reflects softer investor activity which makes up about half of the unit market and is a major part of the Southern Gazette area. Going against the general market trend, property listed for sale locally increased 10% from 4 weeks ago and is up 34% on the same time last year with unit listings representing the major component.
By comparison to the stable local market, reported sales for the overall Perth market increased 11% on the previous four week period but were down 3% on 12 months ago.