Why Invest in Perth is a Good Idea

According to the Real Estate Institute of Western Australia (REIWA), the median price of housing in the city rose for the second month in a row.

The median price of real estate rose 1.6% to $ 518,000 in November. "The median price of housing in Perth has been relatively stable in 2018, so it's nice to see median price growth in two consecutive months at the beginning of the year," said REIWA President Damian Collins.

In reviewing the data, it was found that there was a greater proportion of transactions of more than a million dollars compared to October. This contributed to the improvement in the median price of Perth dwellings during this period.

Willetton, Baldivis, Canning Vale, Duncraig and Ellenbrook were the best-selling suburbs, while Quinns Rock, Willetton, Doubleview, Leeming and Wellard recorded the largest increase in sales volumes, as a percentage.

In terms of the number of properties purchased, the Perth metropolitan area again recorded moderate commercial activity. However, many suburbs have also seen a noticeable improvement in their sales.

Sales listings were 5% higher at the end of November than at the end of October.

The Perth rental market also showed encouraging results, with the city's overall median rent remaining stable at $ 350 a week in November.

The median unit rent increased from $ 5 to $ 330 per week in the last month. Data from November showed that unit rent had risen by $ 10 a week compared to the median rent in August.

In contrast, overall median and median home rents remained stable at $ 360 per week.

In percentage terms, the suburbs of Kardinya, Coolbellup, Bedford, Kelmscott and Harrisdale recorded the largest increase in rental activity. Perth, East Perth, Scarborough, South Perth and Baldivis had the most leased properties.

In addition, the report showed that rent registrations were stable in November and remained below 7,000. This represented a significant 25% decrease from the same period in 2017.

"The rapid decline in listings we have seen this year is one of the main drivers of the recovery in the rental market. This has also had a significant impact on the vacancy rate, which continues to fall and now stands at 3.3%, "Collins said.

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Top suburbs:

Murdoch

,

Homebush

,

Penrith

,

Westmead

,

Darlington

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