According to the Real Estate Institute of Western Australia (REIWA), Perth remained on a roll in January, increasing residential value gains and becoming the fastest growing market in Australia (REIWA).
Home values ??in Perth rose 1.6% per month and 3.8% per quarter to reach $ 490,000 in January, according to data from CoreLogic. This happened after a solid end to the year for prices in Perth in December.
"As the pandemic continues to impact travel and our local economy rebounds after a difficult year, more and more West Australians are recognizing that the time is right come to buy, "said Damian Collins, president of REIWA.
Perth sales listings increased in January, up 1.2% from December at 8,287. However, this level is still 33.3% lower on an annual basis.
"However, we anticipate that more sellers will see the benefits of listing their properties now rather than later," Collins said.
Sellers miss out on the faster rate of home sales. During the month, it took just 21 days for properties to sell, compared to 43 days last year.
"There is no longer any doubt now that the Perth market has shifted in favor of the seller and buyers need to act much faster to secure a property," Collins said.
In terms of sales activity, volume declined slightly from the unprecedented rise in December.
"The peak in sales Perth experienced in December was quite unusual, typically we see a drop in activity in December and January, before picking up again as we move into the new year," Collins said .
Despite the relative slowdown in sales, some suburbs still reported strong gains in activity, with Meadow Springs achieving the biggest sales gain at 75%. Yangebup, Mandurah, Alkimos and Heathridge followed, recording sales growth of up to 67%.
Top suburbs:
Collingwood
,
mt colah
,
Scarborough
,
menai
,
Goulburn
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