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  • Perth Market Snapshot for the week ending 1 December

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    Perth Market Snapshot for the week ending 1 December - reiwa.comOverall reported sales lifted to their highest level since July this week, increasing seven per cent to 684 sales.

    This increase is mainly attributed to a lift in house and unit sales by 10 and 21 per cent respectively.

    In line with the sharp increase in overall sales, the total number of properties listed for sale saw a notable decline of four per cent over the week to record 16,360 this week from 16,696 last week. At the mid-point of the week, listings for sale peaked at 17,078 and declined then onwards.

    The increase in sales and notable decline in total listings for sale may be attributed to the new legislative changes introduced by the Government over the week to strengthen Australia’s foreign investment framework and imposing penalties for breaching the foreign investment rules.

    The Government has also introduced fees on foreign investment applications effective from 1 December 2015.

    Turning to Perth’s rental market now, and REIWA members reported a continuous increase in total properties for rent, with listings increasing one per cent to 9,502 this week. This is mainly attributed to a marginal increase in listings for houses by two per cent, while listings for units remained virtually unchanged.

    Take a look at the breakdown of the past week:

    Perth Market Snapshot for the week ending 1 December - reiwa.com

    For more Perth metro real estate information, visit the WA market section.