The Perth sales market managed to post a substantial improvement in activity from its recent low in April, with five suburbs leading the recovery, according to the latest report from the Real Estate Institute of Western Australia (REIWA ).
Sales activity in the Perth metropolitan area increased 68% in July, driven by both home and land sales. This growth in sales activity brings the market to levels seen before the COVID-19 outbreak.
Five suburbs reported substantial sales gains during the month. Byford led the uptrend with 92% growth, with Port Kennedy following closely behind with 88%. Quinns Rocks, Heathridge and Banksia Grove also saw sales growth of up to 50% in July.
Land sales stood out during the month, increasing more than twice to 121% from their recent low in April. Home and unit sales also rose, registering increases of 58% and 51% respectively.
Damian Collins, president of REIWA, said the number of listings in the Perth metropolitan area also increased in July, indicating increased interest by homeowners to sell amid the pandemic.
"With the increase in sales, it is good to see a slight increase in the number of listings for sale, demonstrating that those who were considering selling their property are looking at favorable market conditions and are choosing to sell now, ”he said.
However, the median house price in Perth edged down in July, falling 0.6% to $ 439,092, according to data from CoreLogic.
Despite the marginal decline in median prices, five suburbs posted notable increases in median values ??during the month. East Fremantle saw the largest increase in median house prices at 4.8%, followed by Pinjarra (3.3%), Rivervale (2.9%), Forrestfield (2.7%) and Yangebup (2.2 %).
Top suburbs:
the tweed is heading south
,
mt colah
,
Eagle vale
,
balga
,
emerald
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