Residential Perth Property Market

Current residential market Perth as at the week ending 19th of April 2020 research. 

According to REIWA research for the week ending 19th of April 2020 total sales were 286 while for the same period 4 weeks ago that number was 548 the same week last year was 436 sales. Currently there are 12068 properties for sale which 4 weeks ago that number was 12691. For the same period last year the number of listed properties was 16956.

The average number of selling days for the end of the September quarter 2019 was 84 while that fell to 68 for the December quarter 2019.

Following COVID-19 government requirements for social distancing, home opens have been discontinued until further notice. Enquiry levels according to local agents, from prospective purchasers are well down with very little sales activity expected over the next quarter or so.

Real estate and economic commentators are expecting a bleak level of activity within the real estate market being mindful of the current levels of unemployment at unprecedented levels.

Other News

Perth City Unleash Transformation

Perth City Unleash Transformation

The Federal and State Government along with the City of Perth are currently unveiling the eleven transformative projects and initiatives included in the Perth City Deal. The agreement, worth $1.5 billion, has been a longstanding Property Council advocacy priority and...

read more
Challenges pre- and post-COVID Village valuations hit

Challenges pre- and post-COVID Village valuations hit

Australia’s largest retirement village operator had its portfolio of 72 villages marked down by valuers by 6% (approximately $84M) in response to COVID. Resales across their 12,858 village homes were up 3.8%, from 842 to 874 units in the 12 months, but this was...

read more