Property Market Snapshot

It looks like there is more good news coming over the horizon for long suffering property owners in Perth with another increase in sale reported.

A two per cent increase in sales activity over the last week in May, with 533 sales is again adding to the positive optimism that the market is well and truly in it's turn. The main areas that have seen a boost are unit sales, with likely investors taking advantage of good prices, and vacant land sales, another good indication that the building sector pressure that comes with a depressed market is now lifting.

Overall there was to a one per cent increase in house sales, a six per cent increase in unit sales and a six per cent increase in vacant land sales.

This week REIWA report that are 14,614 properties for sale in Perth. While listings for houses and units both decreased by three per cent, vacant land listings remained stable. While the figures are similar to levels recorded at the same time last year, this week’s listings are one per cent lower than four weeks ago.

In a sign the rent market is still seeing the squeeze of lower property prices, the total number of properties listed for rent 8,174, is four per cent lower than four weeks ago and 24 per cent lower than the same time last year.

Remember, getting your finance in order first is always the best move - before you go looking for your next property. Get in contact with us today, we make it easy.

Source REIWA