Slight de­cline in prop­erty sales for lo­cal mar­ket

Western Suburbs Weekly - - Surburban Snapshot -

IN the four weeks to April 10 there were 153 lo­cal prop­erty sales across houses, units and land in the Western Suburbs Weekly area, which is a de­crease of 4 per cent over the four-week pe­riod. Com­pared to the same time last year, sales are lower by 6 per cent.

Over­all Perth mar­ket sales have in­creased to 2624, a rise of 11 per cent over the four-week pe­riod and re­main 26 per cent higher than the same time last year. Su­bi­aco tops the list for the high­est num­ber of sales at 16.

Prop­er­ties avail­able for sale in the lo­cal area have de­creased by 1 per cent over the past four weeks, which is 16 per cent lower than the same time last year.to­tal list­ings in the Perth metro re­gion have re­mained stable over the four-week pe­riod but are 3 per cent higher than the same time last year.

The av­er­age time to sell in the lo­cal area has de­creased by one day to 60 days for the three months to March 2017.The av­er­age time to sell in the Perth metro re­gion has in­creased by four days to count 72 days.

REIWA mem­bers re­ported 363 to­tal prop­er­ties (houses and units) leased for the four-week pe­riod, a de­crease of 14 per cent over the past four weeks but 23 per cent higher than the same time last year. List­ings in the Western Suburbs Weekly area have fallen by 1 per cent in the four-week pe­riod but are 7 per cent higher than the same time last year.the over­all mar­ket has seen list­ings rise 1 per cent over the four­week 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 $433/week, which is $27 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 in­creased to 48 days in the three months to March 2017. ■

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