Property News Wrap Up, July 2018

Buyer Confidence is Returning

While traditionally house sales activity slows down in Winter, we are now seeing an increase in house and unit prices moving into Spring.

 
Suburbs with the biggest improvement in house sales last quarter were North Perth, Queens Park, Singleton, Camillo and Beldon, while improvements in unit sales were seen in West Perth, Balcatta, Rockingham, Claremont and Mount Lawley.
 
Data from REIWA also has shown that compared to last quarter there was an increase in house sales in the $800,000 and above price range.

 

Perth Rental Market Snapshot

Below we have your Perth Market Snapshot for July 2018, courtesy of reiwa.com.

We can see that the number of properties available for rent have decreased over the past month from 10,712 to 8,159. Perth and East Perth continued to be the top performing suburbs last month, along with Scarborough.

The median rent remains at $350 per week, while the Vacancy Rate has decreased from 5.1% to 4.8%.

As of the end of July 2018, Western Australia's highest growth suburbs include Nickol, Port Headland, Bulgarra, Nedlands & Kallaroo.

 

If you have an investment property and are interested in an obligation-free chat with one of our experienced specialist Property Managers, contact us today.

 

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