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.
In a survey conducted by REIWA, 90 per cent of respondents considered stamp duty to be a significant barrier to home ownership, which is why the Institute is calling for every political candidate to commit to a two-stream revenue collection method for stamp duty....
Sales activity increased seven per cent in Perth last week, with REIWA members reporting 843 transactions. This increase can be attributed to a four per cent increase in house sales and a 31 per cent increase in unit sales. However, there was an eight per cent decline...