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in Perth’s residential sales market has improved during the September 2019
quarter, with reiwa.com data showing that house and unit prices have softened
President Damian Collins said the current property market climate provides an excellent
opportunity for buyers and investors to secure their next home or investment
“While the worst of the market
downturn appears to be behind us, the results of the September 2019 quarter
reveal conditions are favourable for buyers and investors,” Mr Collins said.
data shows Perth’s median house price should settle at $480,000 which is 1.5
per cent lower than the June 2019 quarter and four per cent lower than last
year’s September quarter.
unit market has shown a similar story with the median expected to settle at
$379,000, which is 1.6 per cent lower than the June quarter and 6.4 per cent
lower than a year ago,” Mr Collins said.
the overall market experienced a decline in median sale price during the
quarter, there were 91 suburbs that bucked this trend to show an increase and
54 suburbs that saw no change in median.
top performing suburbs for median house price growth were Mindarie, Karrinyup,
Huntingdale, Waikiki and Floreat.
Find out more on these suburbs including market information, key facts, demographics and statistics, by using reiwa.com's suburb profile search.
the second consecutive quarter, there has been a decline in listings for sale
with reiwa.com data showing there were only 13,402 properties for sale in Perth
at the end of the September 2019 quarter.
the metro area, stock levels declined 10 per cent during the quarter and 13 per
cent since the year prior,” Mr Collins said.
there were fewer sales this quarter, it’s pleasing that listing stock continues
to be absorbed and this should lead to increases in selling prices in the
were fewer sales in the September 2019 quarter with reiwa.com data showing
7,050 sales which was four per cent lower than the June 2019 quarter and 16 per
cent lower than the same time last year.
not uncommon to experience a decline in sales during the September quarter,
with West Australians typically less inclined to search for property during
winter. We tend to see activity slow during the winter months before increasing
again as the weather warms up,” Mr Collins said.
top selling suburbs for sales during the September 2019 quarter remained the
same as the June quarter with Baldivis, Canning Vale, Morley, Dianella and
Gosnells leading the top five. While the suburbs to record the biggest
improvement in house sales activity were Floreat, Wellard, Success, Atwell and Craigie.”
View our Perth Market Snapshot graph for a detailed breakdown of the past week.
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