Daily Bulletin


Real Estate

  • Written by Brian Greig


06 October 2015. New data from reiwa.com has found that Perth’s median house price fell by 2.7 per cent, or $15,000, in the September quarter compared to the June quarter.

It now sits at $535,000 as the high number of listings offer buyers plenty of choice.

The preliminary analysis by the Real Estate Institute of Western Australia also found sales turnover was down by 14 per cent on the previous quarter.

REIWA Deputy President Hayden Groves said the adjustment in price of 2.7 per cent was quite modest given the high number of properties on the market.

“Currently we have almost 15,000 listings on the Perth market, which is up by about 3,000 on what we would consider normal,” Mr Groves said.

Listings for sale were up by 9 per cent in the quarter and up by 44 per cent on the same time last year.

The biggest growth in listings over the last three months was found in the north-east sub region which includes the Shires of Kalamunda and Mundaring, along with the City of Swan.

This region saw a further 305 properties added to the sales market, bringing it to a total of 1,952 listings at quarter’s end.

Top selling suburbs overall included Butler, Ellenbrook, Bayswater, Baldivis and Canning Vale, largely reflecting first home buyer activity.    

Only a handful of areas saw an increase in turnover for the quarter, but these included Fremantle, Gosnells, Cockburn and Armadale.

In the rental market the vacancy rate has lifted slightly to 5.4 per cent for the three months to August, with some 8,311 rental properties on the market.

Mr Groves said this was almost 50 per cent more rental properties than the same time last year.

“As a consequence, the overall median rent has dropped to $410 per week across Perth, and is now typically around $420 for a house and $395 for a unit, apartment or villa,” Mr Groves said.  

Stronger quarterly falls in rent were found through the City of Fremantle, down $30 to $465, and the City of Belmont, down $25 to $400 per week.

Writers Wanted

From 'common scolds' to feminist reclamation: the fraught history of women and swearing in Australia

arrow_forward

Different Ways to Incorporate Natural Stone into Your Home

arrow_forward

The Conversation
INTERWEBS DIGITAL AGENCY

Politics

Prime Minister Interview with Ben Fordham, 2GB

BEN FORDHAM: Scott Morrison, good morning to you.    PRIME MINISTER: Good morning, Ben. How are you?    FORDHAM: Good. How many days have you got to go?   PRIME MINISTER: I've got another we...

Scott Morrison - avatar Scott Morrison

Prime Minister Interview with Kieran Gilbert, Sky News

KIERAN GILBERT: Kieran Gilbert here with you and the Prime Minister joins me. Prime Minister, thanks so much for your time.  PRIME MINISTER: G'day Kieran.  GILBERT: An assumption a vaccine is ...

Daily Bulletin - avatar Daily Bulletin

Did BLM Really Change the US Police Work?

The Black Lives Matter (BLM) movement has proven that the power of the state rests in the hands of the people it governs. Following the death of 46-year-old black American George Floyd in a case of ...

a Guest Writer - avatar a Guest Writer

Business News

Nisbets’ Collab with The Lobby is Showing the Sexy Side of Hospitality Supply

Hospitality supply services might not immediately make you think ‘sexy’. But when a barkeep in a moodily lit bar holds up the perfectly formed juniper gin balloon or catches the light in the edg...

The Atticism - avatar The Atticism

Buy Instagram Followers And Likes Now

Do you like to buy followers on Instagram? Just give a simple Google search on the internet, and there will be an abounding of seeking outcomes full of businesses offering such services. But, th...

News Co - avatar News Co

Cybersecurity data means nothing to business leaders without context

Top business leaders are starting to realise the widespread impact a cyberattack can have on a business. Unfortunately, according to a study by Forrester Consulting commissioned by Tenable, some...

Scott McKinnel, ANZ Country Manager, Tenable - avatar Scott McKinnel, ANZ Country Manager, Tenable



News Co Media Group

Content & Technology Connecting Global Audiences

More Information - Less Opinion