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