New home sales in WA have dropped 10% whilst the rest of the country experiences a very slight 0.2% increase. With these changes have come calls for sellers to adjust their expectations down until the 1.5 to 1 ratio of supply to demand in WA improves.
Perth Apartment Sales Down 30%
Apartments in WA have dropped significantly as well with sales of apartments in the year to March 2011 almost 30% lower than the previous year! The Real Estate Institute of WA Alan Bourke reported that buyer activity was also down 25% across the board.
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