Inner city local property market update

Inner city local property market update - reiwa.com

 

Sales activity and property for sale

During this four week period reported sales lifted 11 per cent across Perth’s inner city suburbs with local property sales sitting at 120 across houses, units and land.

This number is steady on the same time last year and can be broken down into 53 house sales, 66 unit sales and one land sale.

Top selling suburbs

East Perth 25
Mount Lawley 17
West Perth 14
North Perth 13
Perth 13

For the four weeks to 21 March 2016.

The number of properties available for sale in Perth’s inner city area lifted by seven per cent to 796 over the last four weeks. This number is six per cent below the listings figure of 850 recorded at the same time last year.

The average number of days to sell a property increased by 10 days in the three months to February 2016 – which is two days quicker to sell than the overall Perth metro region.

Rental market

The total number of properties leased for rent (houses and units) for the four weeks to 21 March declined by 18 per cent to 576, however this is 16 per cent higher than the same time last year when there were 497 properties leased.

Rental listings in the inner city local market area increased three per cent in the four weeks to 21 March and are 22 per cent higher than at the same time last year.

The local area’s median rent for the three months to February 2016 came in at $460 per week – a drop of $55 per week on the median rent for the three months to February 2015.

Top leased suburbs

East Perth 152
Perth 143
West Perth 80
Mount Lawley 65

For the four weeks to 21 March 2016.