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Perth market snapshot
Sales activity decreased in Perth this week, with REIWA members reporting 502 transactions compared to 675 last week and 599 in September.
This decrease can be attributed to a 25 % decline in house sales, 6.3 % decline in unit sales and 42 per cent fall in vacant land sales over the week, with the banks again lowering the interest rate by another ¾ of a per cent we could see this again increase with house & land packages becoming more affordable.
Also Easy Start raised the qualifying income thresholds for singles and families alike, making Keystart loans more easily accessed.
Listings for sale
There were 13,640 properties for sale in Perth at the end of this week (09/10/2019), which is 109 properties less than last week and 174 less than mid-September.
This week’s total figure is 14 per cent lower than levels seen a year ago and the lowest since October 2014.
This offers a great opportunity to you if you are thinking of selling. As stock are low and interest in buying is increasing now may be the perfect time to capitalise on market conditions.
Also see how you can best improve your home to sell, our E-book written by bestselling author Ray Wood. This E-book Selling Above market explains some interesting strategies.
Click the image below to download your copy.
Perth rental market
Figures reported by REIWA members show there were 6,200 properties for rent in Perth at the end of this week (09/10/2019), which is 13 more properties than last week although is actually 642 less listings than reported back in mid-September.
This week’s rental listings figure is six per cent lower than levels seen four weeks ago and are 18 per cent lower than levels seen a year ago.
Leasing activity decreased 16 per cent across Perth this week, with REIWA members reporting a figure of 852 properties leased.
To see more figures visit REIWA’s website and their Perth Market Snapshot graph for a detailed breakdown of the past week.
To find out more about our statistics and how we can help you and your investment in a “slow moving” market, call or email our head of department to organize your FREE, Non-Obligation rental appraisal on 08 9457 5733 / bdm@prowest.com.au 
This article some of the information contained herein has been sourced direct from REIWA’s website. Some figures have been taken directly from Professionals Prowest Real Estate’s statistics
