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Perth Market Snapshot for the week ending 19 May
If you are looking for a quick peak into what has happened in the Real Estate market this week, then read below for a Market Update for May 22nd 2019 (week)
Sales activity decreased 4% in Perth this week, with REIWA members reporting 505 transactions.
This decrease can be attributed to a 10% fall in house sales and a 1% rise in unit sales, despite a 40 per cent rise in vacant land sales over the week. These figures are quite different to that of those reported on the week ending 12th May; these figures showed a 12% increase in house sales, 13% increase in unit sales and a 21% decline in vacant land sales.
Perth’s top selling suburbs this week were Como, East Victoria Park, Dianella, East Perth and Canning Vale.
Listings for sale
There were 16,551 properties for sale in Perth at the end of this week, which is in line with last week (16,560).
This week’s total figure is 2% lower than levels seen four weeks ago, and one per cent lower than levels seen a year ago.
Perth rental market
Not a lot changed in the rental market in the last 2 weeks with REIWA members reporting that there were 7,307 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 also 4% higher than levels seen four weeks ago, but 17 per cent lower than levels seen a year ago.
Our updated statistics show that our (Prowest Real Estate) average days on market are currently sitting at 37 days and our average days vacant is now lower at 25 days which is 7.4% lower than this time last year.
We are currently averaging around $370.00 per week for a House which is 5.7% higher than figures seen this time last year. Unit prices for Prowest Real Estate average $330.00 per week which is 1.5% lower than a year ago.
View our Perth Market Snapshot graph for a detailed breakdown of the past week.
More information and a detailed breakdown can be shown on REIWA’s website by clicking HERE (https://reiwa.com.au/the-wa-market/perth-metro/)
Disclaimer: The information contained herein have been sourced directly from reiwa.com.au. However, the above article/s have been slightly altered with information direct from Professionals Prowest Real Estate’s statistics.
