LO­CAL SALES IN­CREASE

Southern Gazette (South Perth) - - RESIDENTIAL -

IN the four weeks to March 13 there were 166 lo­cal prop­erty sales across houses, units and land, which is an in­crease of 18 per cent over the four-week pe­riod. Com­pared to the same time last year, sales are higher by 27 per cent. Over­all Perth mar­ket sales have also in­creased to 2478 sales across houses, units and land, a rise of 2 per cent over the four-week pe­riod and re­mains 8 per cent higher than the same time last year. Como tops the list for the high­est num­ber of sales at 30.

Prop­er­ties avail­able for sale in the lo­cal area have in­creased by 1 per cent over the past four weeks but is 7 per cent lower than the same time last year. To­tal list­ings in the Perth metro re­gion have in­creased by 1 per cent over the four-week pe­riod but are 2 per cent lower than the same time last year. The av­er­age time to sell in the lo­cal area has de­creased by 3 days for the three months to Fe­bru­ary to 68. The av­er­age time to sell in the Perth metro re­gion has in­creased by 3 days to 71.

REIWA mem­bers re­ported 490 to­tal prop­er­ties (houses and units) leased for the four­week pe­riod, a de­crease of 15 per cent over the past four weeks but is 1 per cent higher than the same time last year. List­ings in the South­ern Gazette area have fallen by 3 per cent in the four-week pe­riod but re­main 9 per cent higher than the same time last year. The over­all mar­ket has seen list­ings re­main sta­ble across the four-week pe­riod but re­main 10 per cent above the same time last year.

The over­all me­dian weekly rent for the lo­cal area for the three months to Fe­bru­ary 2017 is $355/week, which is $45/week lower than the three months to Fe­bru­ary 2016. Sim­i­larly, the over­all me­dian rent for Perth has seen a $40/week de­crease in the three months to Fe­bru­ary 2017. The av­er­age time to rent in the lo­cal area has re­mained sta­ble at 50 days in the three months to Fe­bru­ary.

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