Thursday, October 21, 2010

What happened last week in Perth Real Estate?

REIWA has just released some statistics from last week's property sales in Perth, showing a drop in sales from last year and an average period on the market of 63 days before a property is sold. The most popular suburbs which replaced For Sale signs last week were Morley, Como, Canning Vale, Thornlie, Wanneroo and Scarborough. The market continues to struggle with an increase in houses on the market. Personally, it hasn't encouraged me yet to actively look for my first home. For now, I am sitting on the sidelines until there are more positive signs for buyers. 


Property Sales for Perth #

Last Week 928
4 weeks ago^ 922
Same week last year 1072
# Contract Sales reported by REIWA members
^May have changed due to sales falling through

Top Selling Suburbs

North of the River
Morley 16
Wanneroo 13
Scarborough 13
Ellenbrook 12
East Perth 11

South of the River
Como 14
Canning Vale 13
Thornlie 13
Gosnells 12
St James 12

Properties listed for Sale
Total* 16 309
Houses 10 701
Units 3 241
Land 2 367
*Listed on reiwa.com and other sources

3 months to September 2010
Average Selling Days 63
Average discount* 6.0%
*Difference between original listing and selling price

1 comment:

Yarrawonga real estate said...

The benefit of a property that has been on the market for more than 2 months preferably 3 is that you can make offers to sellers for much less than what they are asking because in some cases not all but some sellers are desperate to sell for what ever reason.

I'm sure the market will pick up again, good luck finding your first home.

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