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
Rental properties leasing two weeks faster in August
In August, reiwa.com data shows it took a median of 21 days to lease a property in Greater Perth which is 13 days less than the same time last year – making it the quickest time to lease since the construction phase of the last mining boom in February 2015. Perth...
Perth Area – Residential Market Focus
The latest REIWA research shows the median house price for the Perth metropolitan area was $475,000 as at the June quarter 2020, down from $480,000 at the March quarter 2020. Sales however showed a strong lift over previous lack lustre numbers, total property listings...