Powered by MOMENTUM MEDIA
realestatebusiness logo

Breaking news and updates daily. Subscribe to our Newsletter!

Home of the REB Top 100 Agents
Breaking news and updates daily. Subscribe to our newsletter

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

rpm logo latest

Market snapshot bleak

By Staff Reporter
14 November 2014 | 1 minute read

A weekly breakdown of the Perth property market showed a five per cent rise in rental stock, pushing the number of properties available over the 6,000 mark.

Advertisement
Advertisement

According to the Real Estate Institute of Western Australia (REIWA), current property stock levels in Perth came in at 6,013, compared to 5,874 a month ago and 4,210 a year ago.

Total reported sales activity has remained virtually unchanged for three weeks with only minimal variations in house sales, while the fall in multi-residential sales was replaced with a lift in land sales this week.

Listings continue to trend upwards and are now up 23 per cent since the start of the quarter.

“While this increase is significant, it is made more dramatic due to the five per cent slide across the previous September quarter,” the REIWA said.

Over the past 10 years we have seen larger increases across a quarter, including 84 per cent in September 2006 when stock nearly doubled from the historic 4,800 low in June 2006.

The December quarter in that year also saw a further 29 per cent increase as stock lifted to 11,400.

The REIWA also saw a 31 per cent increase in March 2008 as the global financial crisis hit and listings climbed to 17,600.

Below is the breakdown of the past week:

Market snapshot bleak
Camera
lawyersweekly logo

ABOUT THE AUTHOR


Listen to other installment of the Real Estate Business Podcast

 

Do you have an industry update?

top suburbs

12 month growth
Warren
49.59%
Mullumbimby
49.48%
Waverton
49.18%
Blairgowrie
48.97%
Porepunkah
48.95%
Streaky Bay
48.89%
Bruce
48.67%
Koolewong
48.46%
Failford
48.4%
Victory Heights
48.22%
SEE AREA REPORTS ON SMART PROPERTY INVESTMENT WEBSITE
Subscribe to Newsletter

Ensure you never miss an issue of the Real Estate Business Bulletin.
Enter your email to receive the latest real estate advice and tools to help you sell.