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More than 60 Perth suburbs record median price growth in August

REIWA | September 13, 2021

New reiwa.com data shows 62 Perth suburbs recorded median house sale price growth during August. The Perth property market is usually quite subdued during winter, so it’s impressive that so many Perth suburbs still recorded median house sale price growth. Cooloongup recorded the strongest growth during the month, with its median house sale price increasing 4.5 per cent to $320,000 in August. Stirling came in second for price growth, with its median lifting 3.7 per cent to $810,000 in August, with Maddington claiming third spot for the month, with its median up 2.8 per cent to $345,000. Forrestfield and Quinns Rock rounded out the top five, both recording 2.2 per cent growth to their medians at $440,000 and $545,000 respectively. Medina (up 2.1 per cent to $270,000), Booragoon (up two per cent to $850,000), Spearwood (up two per cent to $490,550), Ocean Reef (two per cent to $790,000) and Beckenham (up two per cent to $399,000) completed the top 10 for August.

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WA remains cheapest state for housing and rentals

| September 8, 2021

Western Australia is once again the most affordable state in Australia for housing and rentals, according to the Real Estate Institute of Australia’s Housing Affordability Report. Although overall affordability declined in WA during the June 2021 quarter, WA remains the most affordable state in the country for housing, with only the Australian Capital Territory and Northern Territory more affordable. The Housing Affordability Report shows the proportion of family income required to meet average home loan repayments in WA was 26.5 per cent in the June 2021 quarter, up from 26.3 in the March 2021 quarter and 25.4 in the June 2020 quarter. There were 14,069 loans taken out in the June 2021 quarter in WA, which is a 106 per cent increase on the June 2020 quarter. The average loan amount in WA during the quarter was $430,805. The average loan amount increased 2.9 per cent in WA during the quarter, which is significantly lower than other states like New South Wales and Victoria where the average loan amounts were $705,658 and $568,188 respectively.

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House price growth heats up in 233 Perth suburbs during winter

| September 8, 2021

Median house sale price growth occurred in 233 suburbs during Perth’s very wet winter this year. REIWA President Damian Collins said winter in Perth was traditionally a quieter time for the local property market, so it was pleasing to see the median house sale price in so many suburbs had continued to increase. “After a wet winter, it’s impressive that so many Perth suburbs recorded median house sale price growth between June and August,” Mr Collins said. When comparing winter 2021 to winter 2020, reiwa.com data shows there were 104 more suburbs to record price growth this year versus last. “The Perth property market has changed quite dramatically since winter 2020, which is reflected in the number of suburbs that saw price growth this year. The Perth property market is firmly in a recovery phase and many suburbs are feeling the benefits of this current growth cycle,” Mr Collins said.

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Perth Market Snapshot for the week ending 5 September 2021

| September 6, 2021

Sales activity increased six per cent in Perth last week, with REIWA members reporting 978 transactions. This increase can be attributed to an 11 per cent increase in house and unit sales and a four per cent increase in vacant land sales. There were 8,337 properties for sale in Perth at the end of last week, which is two per cent less than the previous week. A closer look at listing stock levels shows house listings decreased by four per cent, unit listings decreased by one per cent and land listings decreased by two per cent. Last week's total figure is on par with levels recorded four weeks ago and 22 per cent lower than a year ago.

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Perth Market Snapshot for the week ending 29 August 2021

REIWA | August 30, 2021

Sales activity increased eight per cent in Perth last week, with REIWA members reporting 931 transactions. This increase can be attributed to a three per cent increase in house, a 23 per cent increase in unit sales and an 18 per cent increase in vacant land sales. acant land sales declined 19 per cent during the week. There were 8,503 properties for sale in Perth at the end of last week, which is in line with the previous week. A closer look at listing stock levels shows house, unit and land listings were all stable over the week. Last week's total figure is three per cent higher than four weeks ago and 21 per cent lower than a year ago.

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Perth home open numbers rise as spring selling season nears

Domain | August 27, 2021

House hunters are out in force in Perth’s property market as the spring market rush looms – and the number of buyers is already outstripping sellers.

New data from Domain has found attendance numbers at open homes in the statistical area (SA4) of inner Perth has risen 30 per cent over four weeks. And in the Perth South West area, this figure increased 16.8 per cent.

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Perth Market Snapshot for the week ending 22 August 2021

REIWA | August 23, 2021

Sales activity increased two per cent in Perth last week, with REIWA members reporting 869 transactions. This increase can be attributed to a four per cent increase in house and unit sales. Vacant land sales declined 19 per cent during the week. There were 8,511 properties for sale in Perth at the end of last week, which is one per cent more than the previous week. A closer look at listing stock levels shows house and unit listings increased by one per cent, while land listings were stable.

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REA Insights Listings Report August 2021

REA | August 20, 2021

New listings fall as lockdowns lead to seller trepidation; Opportunity for vendors amid uncertainty.

This monthly report analyses new and active listings on realestate.com.au to provide the most up-to-date view on property market supply trends.  

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C21 Market Pulse August 2021

C21 | August 20, 2021

WELCOME TO THE AUGUST 2021 ISSUE OF Century 21  MARKET PULSE

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The WA suburbs where your house earns more than your annual wage

Domain | August 20, 2021
Homes in more than 15 suburbs across WA made more money in the past year than the wages of their owners, new figures show.
The annual property growth of homes in City Beach, Salter Point, Cottesloe, Floreat and Dalkeith were among the top five locales to surpass annual household wages by as much as $200,000 or more, according to an analysis of data from Domain and ABS.
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The top 10 Perth suburbs where it’s cheaper to buy than rent

REIWA | August 17, 2021

It is cheaper to buy than rent in 112 Perth suburbs, with Brentwood, Medina and Parmelia offering buyers the best value when comparing the costs of buying to renting. REIWA President Damian Collins said Western Australia was one of the most affordable places in the country to buy property in. “It is more affordable to pay the costs associated with servicing a home loan than pay the weekly rent in 112 Perth suburbs, which should give tenants encouragement that home ownership is within reach,” Mr Collins said.

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Perth Market Snapshot for the week ending 15 August 2021

REIWA | August 16, 2021

Sales activity increased three per cent in Perth last week, with REIWA members reporting 860 transactions. This increase can be attributed to a four per cent increase in house sales and an eight per cent rise in vacant land sales. Unit sales declined four per cent during the week.

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Catalyse Community and Wellbeing Scorecards – Your Chance To Rate Us!

City of Belmont | August 16, 2021

The City of Belmont is continuously finding ways to improve the quality of life for its residents. To help plan for the future, the City is currently conducting a survey called the MARKYT Community Scorecard 2021 and MARKYT Wellbeing Scorecard 2021 commencing on Monday 16 August. The results will be used to benchmark the City's performance against other local governments and improve services to the community.

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Australia’s dwelling sales to new listings ratio hits an average of 1.4 in the three months to July

CoreLogic | August 12, 2021

Dwelling sales continue to surge across Australia against low listings levels. In the three months to July, CoreLogic estimates there were around 171,100 sales. This is 53.4% higher than what has typically been seen this time of year for the previous five years. In the same period, there were just 121,200 newly advertised properties for sale in the three months to July. This has taken the ‘sales to new listings ratio’ to recent highs nationally, at 1.4 over the three months to July. The sales to new listings ratio is calculated by dividing the number of sales that have taken place over a given period by the number of new listings added to the market over the same time. For the past decade, the ratio has averaged 0.9, suggesting for each listing added to market, there was just under one transaction that took place.

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Perth’s current property growth tracking almost twice as high as previous cycle

REIWA | August 10, 2021

The Perth market recovery is tracking at an average growth rate of 0.9 per cent per month, which is almost double the average growth rate recorded during the 2011-14 growth cycle of 0.5 per cent. REIWA President Damian Collins said Perth’s last growth cycle lasted 30 months and resulted in 15 per cent price growth. “We are just 12 months into this current growth cycle and prices in Perth are already up almost 11 per cent, with the bulk of that growth occurring in the first six months of this year. “For comparison, the total price growth recorded during the first 12 months of the previous upcycle was six per cent,” Mr Collins said.

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Brendan Bowie has specialised in property sales, marketing, and leasing for more than 20 years. As a City of Belmont resident with a great knowledge of the local area, Brendan’s strategic and innovative property marketing approach, coupled with a strong networking focus, consistently yields quality outcomes for his clients.

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