SALES KEEP CLIMB­ING WHILE RENTALS SLOW

Hills Gazette - - NEWS -

IN the four weeks to Novem­ber 14 there were 169 lo­cal property sales across houses, units and land, which is an in­crease of 26 per cent over the four-week pe­riod.

Com­pared to the same time last year, sales are higher by 8 per cent.

The over­all Perth mar­ket have seen sales in­crease by 16 per cent to 2402 sales across houses, units and land over the four-week pe­riod and re­mains 9 per cent higher than the same time last year.

High Wy­combe tops the list for the high­est num­ber of sales at 17.

Prop­er­ties avail­able for sale in the lo­cal area have de­creased by 1 per cent over the last four weeks and are 21 per cent lower than the same time last year. To­tal list­ings in the Perth metro re­gion have lifted by 5 per cent over the four-week pe­riod but re­main 9 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 Oc­to­ber by five days to 79 days. The av­er­age time to sell in the Perth metro re­gion has in­creased by eight days to 69 days.

REIWA mem­bers re­ported 193 to­tal prop­er­ties (houses and units) leased for the four-week pe­riod, an in­crease of 5 per cent com­pared to the last four weeks and 40 per cent higher than the same time last year.

List­ings in the Hills Gazette area have in­creased by 8 per cent in the four-week pe­riod and re­main 24 per cent higher than the same time last year. The over­all mar­ket has seen list­ings de­cline by 1 per cent across the four-week pe­riod but re­mains 14 per cent above the same time last year.

The over­all me­dian weekly rent in the lo­cal area for the three months to Oc­to­ber is $350/week, $40/week lower than the three months to Oc­to­ber 2015. Sim­i­larly, the over­all me­dian rent for Perth has seen a $35/week de­crease in the three months to Oc­to­ber to $365/week.

Av­er­age time to rent in the lo­cal area has in­creased by five days to 53 days in the three months to Oc­to­ber. The av­er­age time to rent has in­creased by seven days to 53.

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