Perth homes sold faster last month compared to the same time last year, according to data from the Real Estate Institute of Western Australia (REIWA).
According to REIWA, Perth homes sold 27 days faster in September compared to a year ago, which takes a median of 28 days to sell compared to 55 days.
Damian Collins, President of REIWA, said it was "nice to see the established market doing well".
"As the data shows we are seeing improvements, field agents have reported high levels of interest in residential property and multiple offers featured on some new listings," Collins said.
“In September, the number of properties for sale on reiwa.com was down 20% from the previous year. This, combined with low interest rates and a return to stronger population growth, explains why we are seeing homes selling at a faster rate. "
According to Collins, as the market improves overall, some suburbs "are doing better than others, the 10 best-selling suburbs in September are all selling well below the Perth median of 28 days ".
Of the top 10 selling suburbs, Subiaco and Kingsley were the top selling suburbs, with just 12 days – 16 days faster than in September 2019. This was followed closely by Rivervale who took a 14-day median, 11 days faster than last year.
“With low inventory levels and faster sell days, we can expect the median sell price to start increasing over the next few months. For those looking to sell, maybe now is the time to contact your local REIWA agent, ”Collins said.
Top suburbs:
Wentworthville
,
coburg north
,
Geelong West
,
toowong
,
alderley
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