Perth Market Snapshot-20190908-2

Perth Market Snapshot

Sales activity decreased five per cent in Perth this week, with REIWA members reporting 560 transactions compared to 599 last week. 

This decrease can be attributed to an 18 per cent fall in unit sales, a 15 per cent fall in vacant land sales and a no change in house sales over the week.

Listings for sale

There were 13,799 properties for sale in Perth at the end of this week, which is in line with last week. 

A closer look at listing stock levels shows house and unit listings remained stable, while listings for vacant land decreased by one per cent. This week’s total figure is three per cent lower than levels seen four weeks ago and are 10 per cent lower than levels seen a year ago.

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Perth rental market

REIWA members reported there were 6,617 properties for rent in Perth at the end of this week, which is in line with last week. 

This week’s rental listings figure is five per cent lower than levels seen four weeks ago and are 16 per cent lower than levels seen a year ago.

Leasing activity decreased one per cent in Perth this week, with REIWA members reporting 990 properties leased.

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What Angelica’s clients say about her

If you’re in the Kardinya area, you may have heard of our Property Consultant Angelica McKenzie.

Angelica recently sold Noel and Geraldine’s home in Bassendean and we now have two very happy sellers. Noel and Geraldine’s home was on the market for a year before they met Angelica and she applied her trademark positive energy and tenaciousness.

“After a year of several agents attempting to sell our home, at a realistic price Angelica was a delight to deal with. Her home opens attracted more viewers in 7 weeks than other agents had in 12 months! Plus it included a purchaser. Her ongoing communication during the entire process was always timely and informative. Whoever believes real estate agents have a bad reputation has not availed themselves of the service offered by Angelica and St Ives Realty. Noel and Geraldine | Sellers | Hyland Street, Bassendean”

Hear from Noel and Geraldine here!

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Smooth transition for Helen & Roger

Making the decision to transition into retirement living was helped to be happy and seamless for Helen and Roger, thanks to the work of St Ives Realty’s Sales Consultant, Roy Paxton.

The couple recently made the decision to purchase a villa at St Ives Murdoch retirement village, so listed their family home for sale with St Ives Realty.

Helen and Roger were thrilled to sell their home to a young family, who they hope will enjoy living there as much as they did.

To discuss your buying or selling your property with a smooth transition, just like Helen and Roger, speak to us! View our other recent sales here or check our latest listings here.

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House prices lift to finish 2016

5 January 2017

Source : reiwa.com

 

According to REIWA, Perth’s median house price increased by nearly two per cent in the three months to December 2016. The results show that sectors of the market are recovering and strengthening.

Perth properties for sale

REIWA President Hayden Groves said reiwa.com data showed the median house price had lifted 1.9 per cent to $535,000 over the three month period.

“This is the second month in a row that we’ve seen an increase in the median house price, which is a welcome trend and suggests that the trade-up sector of the market is recovering.

“Since the second half of 2016, we’ve seen prices across the metro area start to lift on a monthly basis. If you’re a buyer waiting for the ‘bottom of the market’, you would be wise to make a buying decision soon should this trend continue.

“The benefit of buying now is that there is currently less competition from other buyers, so you’re more likely to find a home or investment property that genuinely meets your needs,” Mr Groves said.

Listings for sale in Perth experienced an 11 per cent decline in December, with 13,883 listings recorded in the metro area.

“It’s not unusual for listing volumes to drop off in December as the market tends to be quieter over the festive period. More significantly though, listings in December 2016 were three per cent lower than in December 2015 which is a good indication that we’ve seen supply peak,” Mr Groves said.

Perth rental properties

In line with seasonal trends, leasing activity in Perth’s rental market moderated slightly in December, dropping back two per cent over the month. However, when compared to December 2015, activity has escalated by a noteworthy 27 per cent.

“We expect to see a slowdown in leasing activity across the month as people prepare for the holidays, so a two per cent drop isn’t a concern. The hike in the number of properties leased on an annual basis however is very pleasing and there’s been a significant increase compared to the same time in December 2015.

“Despite listings for rent remaining above the long term average, tenants are still very active in the market and recognise they have good choice to secure a home at a competitive price,” Mr Groves said.

Another positive sign for the Perth rental market is that the median house and unit prices remained steady over the three months to December 2016, holding at $380 and $340 per week respectively.

View the breakdown below (for week ending 3 January 2017) or to browse St Ives Realty’s latest listings for Perth rental properties and Perth property for sale, click here.

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Christmas Sales Update

21 December 2016

Source : reiwa.com

Leading up to Christmas, there was a four per cent decline in sales activity in Perth for the week-ending 20 December 2016. According to REIWA, 528 transactions were recorded.

The decline, which was likely influenced by the upcoming holiday season, was because of a 10 per cent decrease in house sales.

Unit sales experienced a notable 26 per cent increase in sales, while vacant land sales were stable.

Listings for sale

The total number of properties for sale in Perth declined by two per cent this week to 15,092.

Listings for all houses, units and vacant land decreased by two, three and two per cent respectively over the week.

The total number of listings recorded this week is three per cent lower than four weeks ago and two per cent higher than the same time last year.

Perth rental market

REIWA members reported that the total number of properties for rent in Perth was stable over the week, holding at 10,506. This is one per cent lower than four weeks ago and 13 per cent higher than the same time last year.

Take a look at the breakdown for late December (week to 20 December 2016) or to view St Ives Realty’s latest listings for Perth rental properties and Perth property for sale, click here.

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Perth metro sales increase

22 November 2016

Source : reiwa.com

According to the Real Estate Institute of WA, real estate sales activity in the Perth metro area lifted 17 per cent over the week (to 22 November), with an impressive 659 transactions recorded.

The lift can be attributed to a 15 per cent increase in house sales, an 11 per cent lift in unit sales and a 49 per cent increase in vacant land sales.

Listings for sale

The total number of properties listed for sale in Perth increased by one per cent this week.

Listings for houses and vacant land both increased by one and two per cent respectively, while unit listings were unchanged over the week.

The total number of listings recorded this week is four per cent higher than four weeks ago and eight per cent lower than the same time last year.

Perth rental market

REIWA members reported that the total number of properties available for rent in Perth remained stable over the week at 10,667.

This figure is one per cent lower than four weeks ago and 15 per cent higher than the same time last year.

Take a look at the breakdown for late November (week to 22 November 2016) or to view St Ives Realty’s latest listings for Perth rental properties and Perth property for sale, click here.

 

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House sales down while vacant land lifts

26 October 2016

Source : reiwa.com

Late October saw overall sales activity in Perth drop by four per cent.

According to the Real Estate Institute of WA, the change was attributed to a six per cent decrease in house sales, while sales for units remained stable and vacant land sales experienced a healthy 14 per cent increase.

Listings for sale

The total number of properties for sale in Perth lifted two per cent this week, to 14,948.

Taking a closer look, listings for units, houses and vacant land increased by one, two and three per cent respectively.

The total number of listings recorded this week is four per cent higher than four weeks ago and eight per cent lower than the same time last year.

Perth rental market

REIWA members reported that the total number of properties for rent in Perth increased marginally by one per cent to 10,594 this week.

This figure is one per cent lower than four weeks ago and 22 per cent higher than the same time last year.

Take a look at the breakdown for late October (week to 25 October 2016) or to view St Ives Realty’s latest listings for Perth rental properties and Perth property for sale, click here.

 

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Perth rental market rebounds as lease prices dip

Source : perthnow.com.au

 

Leasing across Perth’s rental market increased by 17 per cent in August, according to new data from the Real Estate Institute of Western Australia.

All five sub-regions had a rise in leased properties last month and the biggest increases were in the Central and North West areas, which were up 19 and 17.4 per cent, respectively.

REIWA president Hayden Groves said the surge in activity was coupled with a three per cent drop in properties available to rent.

“Although WA’s population growth has slowed in recent times, there has been a small lift in overseas migration into the state,” he said.

Cheaper rentals were allowing share-house tenants to move out on their own, Mr Groves said.

Perth’s overall median rent price dropped $5 to $375 in the three months to August.

“The median house price rent in Perth came in at $380 for the three months to August, while the median rent price for units was $350 per week,” Mr Groves said.

“Perth tenants continue to have plenty of choice in the market and are in a good position to secure a rental lease at a more affordable price.”

To find out the potential value of your rental property, request a free appraisal with us or speak to one of our expert property managers. Contact us today.