Perth saw a steady increase in sales activity during the first week of the month, driven by increased land sales, according to the latest report from the Real Estate Institute of Western Australia ( REIWA).
In the first week of the month overall business activity in Perth increased by 5%. This sharp increase was explained by the 140% increase in sales of vacant land, which offset sales declines of 3% for homes and 27% for homes.
In terms of listings, 8,933 new properties were added to Reiwa.com at the end of June. This is 1% lower than at the end of May.
“We saw a slight decrease in listings at the end of June compared to May, but compared to three months ago, listings for sale were up 8.1%. On an annual basis, inventory levels remain 13.4% lower than they were at the end of June 2020, ”said Damian Collins, president of REIWA.
Rental listings have also declined in Perth, down 29% from the same period last year.
Figures from REIWA showed that price growth in Perth reached 0.2% over the past month.
Collins said the lower growth rate recorded in June is not surprising given the traditional winter slowdown. Still, Collins thought the growth was encouraging.
"This will be very useful in Perth as we move from winter to spring sales season in the months to come," he said.
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Alexandria
,
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