Perth Market Snapshot for the week ending 14 February 2021

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 in vacant land sales over the week.

Bilya Kard Boodja Lookout a hidden gem

Many of us drive past one of Perth’s gems each day without even knowing it’s there.

Bilya Kard Boodja Lookout is a sheltered parkland on an important, culturally sensitive site on the bank of the Swan River in Rivervale — right alongside the Great Eastern Highway.

Situated high on the bank of the river bend, the lookout offer sweeping views of the Swan River and the Perth CBD.

Perth Market Snapshot for the week ending 7 February 2021

Sales activity decreased four per cent in Perth last week, with REIWA members reporting 792 transactions. This decrease, which can be attributed to the Perth five-day COVID-19 lockdown, was the result of a five per cent decline in house sales and a 20 per cent decline in unit sales. In better news, there was a 36 per cent increase in vacant land sales over the week.

Cash rate unchanged at first RBA Board meeting of 2021

Low interest rates, strong institutional responses and rapidly improving economic conditions have been central factors supporting the rebound in housing markets. With mortgage rates likely to remain at record lows well into 2022, housing values are expected to keep rising.

Australian housing values reach a new record high as values continue to rise across every broad region of the country

Housing values continued to rise through the first month of 2021 with CoreLogic’s national home value index up 0.9% over the month. The January movement takes Australian home values to a fresh record high. Housing values have surpassed pre-COVID levels by 1.0%, and the index is 0.7% higher than the previous September 2017 peak.

Perth Market Snapshot for the week ending 31 January 2021

Sales activity decreased one per cent in Perth last week, with REIWA members reporting 836 transactions. This decrease can be attributed to a three per cent decline in house sales and a six per cent rise in unit sales. There was no change to vacant land sales over the week.

Five-day WA lockdown to have minimal impact on property market

Property analysts say Western Australia’s snap five-day lockdown is likely to have little impact on the state’s recovering real estate market with Perth showing impressive results unseen since 2013.

Perth is currently Australia’s fastest growing major market

CoreLogic data revealed that Perth’s home value index lifted 1.6 per cent in January and 3.8 per cent compared to three months ago, currently making it the fastest growing major market in Australia. REIWA President Damian Collins said reiwa.com data supported these findings, with Perth’s median house price increasing to $490,000 in January.

Which housing markets are back above pre-COVID values?

Housing market data has shown a fairly strong post-COVID recovery trend following a short, sharp slowdown in activity through the middle of 2020. Australian housing values rose 2.3% in the final quarter of the year, trending higher from a recent low in September 2020, to be just 0.1% below the previous record high value in October 2017.

2020 rental market finishes the year strong with a decade-high monthly growth rate of 0.6% in December

CoreLogic’s Rental Market Review for the December 2020 quarter released today has reiterated the diverse rental conditions across Australia over the year, with regional markets outperforming capital cities and unit markets recording weak conditions across the largest capital cities.

Perth Market Snapshot for the week ending 24 January 2021

Sales activity increased 13 per cent in Perth last week, with REIWA members reporting 856 transactions. This increase can be attributed to a 15 per cent rise in house sales, 24 per cent rise in unit sales and 15 per cent fall in vacant land sales over the week.

Perth house price growth set to beat other Australian cities in 2021, experts predict

Perth house prices are on track to rise faster than any other Australian capital city in 2021, thanks to a strong economy, a tight rental market and the state’s response to COVID-19, according to property experts.

REIWA calls for real estate to be a focus in the upcoming Western Australian Election

With the WA Election fast approaching, REIWA is calling on all candidates contesting the election to commit to policy reforms that deliver a fair, sustainable and prosperous property market. REIWA President Damian Collins said throughout the COVID-19 pandemic, the WA property market has proven resilient and has been a key driver for the state’s economy.

Perth Market Snapshot for the week ending 17 January 2021

Sales activity increased 10 per cent in Perth last week, with REIWA members reporting 763 transactions. This increase can be attributed to a nine per cent rise in house sales, 17 per cent rise in unit sales and nine per cent rise in vacant land sales over the week.

December reiwa.com data reveals sales activity is on the rise

With people taking long deserving holidays or opting to spend time with family during the festive season, December has traditionally been known as one of the slower months to sell your property with many deciding not to list their property until the end of January.