Sales growth en­cour­ag­ing in western sub­urbs

Western Suburbs Weekly - - Residential -

IN the four weeks to June 5, there were 145 lo­cal prop­erty sales across houses, units and land, which is an in­crease of 22 per cent over the four-week pe­riod.

Com­pared to the same time last year, sales are higher by 10 per cent.

Over­all Perth mar­ket sales have in­creased to 2208, a rise of 5 per cent over the four-week pe­riod, and 11 per cent higher than the same time last year.

Su­bi­aco, Wem­b­ley and West Perth topped the list for the high­est num­ber of sales at 16.

Prop­er­ties avail­able for sale in the lo­cal area have de­creased by 6 per cent over the past four weeks, and are 14 per cent lower than the same time last year.

To­tal list­ings in the metropolitan area have in­creased by 2 per cent over the four-week pe­riod, and are 2 per cent lower than the same time last year.

The av­er­age time to sell in the lo­cal area de­creased by eight days to 58 days for the three months to May. The av­er­age time to sell in the metropolitan area has in­creased by three days to 70 days.

REIWA mem­bers re­ported 324 to­tal prop­er­ties (houses and units) leased for the four-week pe­riod, an in­crease of 8 per cent over the past four weeks, and 13 per cent higher than the same time last year.

List­ings in the Western Sub­urbs Weekly area fell by 1 per cent in the four-week pe­riod, and are 1 per cent lower than the same time last year.

In the over­all mar­ket, list­ings fell 1 per cent, but are sim­i­lar to the same time last year.

The over­all me­dian weekly rent for the lo­cal area for the three months to May is $430/week, which is $20 lower than the three months to May 2016. Sim­i­larly, the over­all me­dian rent for Perth has fallen by $35 in the three months to May.

The av­er­age time to rent in the lo­cal area fell to 47 days in the three months to May 2017. ■

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