PROP­ERTY SALES ON THE RISE AGAIN

Southern Gazette (South Perth) - - RESIDENTIAL -

IN the four weeks to Oc­to­ber 3, there were 145 lo­cal prop­erty sales across houses, units and land, an in­crease of 9 per cent over the four-week pe­riod.

Com­pared to the same time last year, sales are higher by 23 per cent.

The over­all Perth mar­ket sales also in­creased to 2151 sales across houses, units and land, a rise of 3 per cent over the four-week pe­riod and stable when com­pared to same time last year.

South Perth tops the list for the high­est num­ber of sales at 24.

Prop­er­ties avail­able for sale in the lo­cal area have in­creased by 1 per cent over the last four weeks but is 10 per cent lower than the same time last year.

To­tal list­ings in the Perth metro re­gion in­creased by 1 per cent over the four-week pe­riod but is 7 per cent lower than the same time last year.

The av­er­age time to sell in the lo­cal area has in­creased for the three months to Septem­ber 2016 by four days to 72 days. The av­er­age time to sell in the Perth metro re­gion has in­creased by five days to 69 days.

REIWA mem­bers re­ported 431 to­tal prop­er­ties (houses and units) leased for the four-week pe­riod, a de­crease of 5 per cent over the last four weeks but 25 per cent higher than the same time last year.

List­ings in the South­ern Gazette area have dropped by 3 per cent in the four-week pe­riod and re­main 28 per cent higher than the same time last year. The over­all mar­ket has seen list­ings de­crease across the four-week pe­riod by 3 per cent but re­main 27 per cent above the same time last year.

The over­all me­dian weekly rent for the lo­cal area for the three months to Septem­ber 2016 is $360/week, which is $40/week lower than the three months to Septem­ber 2015. Sim­i­larly, the over­all me­dian rent for Perth has seen a $30/week de­crease in the three months to Septem­ber 2016.

Av­er­age time to rent in the lo­cal area has in­creased by eight days to 54 days in the three months to Septem­ber 2016.

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