Perth records a third month of growth

According to the Real Estate Institute of Western Australia (REIWA), Perth continued to recover, with the sales and rental markets improving conditions last month.

One of the biggest changes in Perth is the participation of first-time home buyers, as evidenced by the growing number of home sales under $ 350,000, which represents 30% of all transactions of the month.

The overall sales activity in Perth has remained stable, but some suburbs have had a busier month.

"Major suburbs in terms of business growth include Leeming, Dianella, Woodvale, Ellenbrook and Secret Harbor, while Halls Head, Canning Vale, Baldivis, Secret Harbor and Dianella recorded the highest number sales of the month, "said Damian. Collins, president at REIWA.

According to local agents, excellent quality properties were recovered more quickly during the month. The vendor discounts were also lower, at 6.4%.

"This is a positive sign for the median selling price, and if this continues, we should start to see a gradual increase in prices in the coming months," said Collins.

On a monthly basis, housing prices in Perth rose 0.1%, according to the latest CoreLogic figures. If the previous three months were taken into account, the value of houses in Perth was 0.4% higher.

The median selling price in Perth is $ 480,000 for homes and $ 375,000 for units.

The Perth rental market also remained expansionary in January, rental activity increasing by 26%.

"Rental activity generally increases at the start of the year, whether as part of a tenant's New Year's resolution to find a new home or simply to take over a routine after the holidays, that's why we saw the jump by renting at 4,608 in January, "said Collins.

The overall median weekly rent in the city remained at $ 350.

Como, Southern River, Kardinya, Waikiki and Safety Bay recorded the strongest growth in rental activity. In contrast, Baldivis, Canning Vale, Halls Head, Clarkson and Butler remained the busiest and rented the largest number of properties.

There were 5,840 properties for rent at the end of January, which represents a monthly increase of 4% but an annual decrease of 13%.

"The drop in registrations we have seen in the past 12 months has had a significant impact on the vacancy rate which continues to be at a low of 2.4%," said Collins.

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