Perth Market Snapshot for the week ending 6 June 2021

Sales activity decreased two per cent in Perth last week, with REIWA members reporting 952 transactions. This decrease can be attributed to a 16 per cent decline in unit sales, however house sales increased two per cent and vacant land sales increased 13 per cent.

Australia’s property boom set to continue in exceptional winter season

The Australian property market usually experiences a seasonal slowdown in the winter months, but experts say robust buyer demand and unseasonably high sales volumes point to continued price growth in a stronger-than-usual winter season.

Director of economic research at realestate.com.au Cameron Kusher said while he’s not expecting an early spring for the housing market, the COVID-induced property boom is showing no signs of a dramatic slowdown over the coming months.

Perth home values up 10 per cent in last 10 months

The Perth residential sales market continued its growth trajectory for a tenth consecutive month in May, with the Core Logic Perth home value index increasing 1.1 per cent during the month. REIWA President Damian Collins said that brought Perth price growth to seven per cent for the first five months of the 2021 calendar year and 10 per cent since July 2020,” Mr Collins said.

Australia’s housing boom rolls on with national home values lifting another 2.2% in May – Cloned

Housing markets around Australia continued to surge in May with CoreLogic’s national Home Value Index up 2.2% over the month.  The rise in May was a stronger result compared with April (1.8%), but weaker than the 32-year high recorded in March when values surged 2.8%. CoreLogic’s research director, Tim Lawless, observes that growth conditions remained broad based both geographically and across the housing types and valuation segments.

Perth Market Snapshot for the week ending 30 May 2021

Sales activity increased seven per cent in Perth last week, with REIWA members reporting 976 transactions. This increase can be attributed to a 48 per cent increase in vacant land sales and a 22 per cent increase in land sales, however house sales declined three per cent during the week.

CoreLogic Economic Review: April quarter data highlights extraordinary growth and activity in housing market

CoreLogic has released its latest Quarterly Economic & Property Market Review which provides a comprehensive overview of housing market performance through the start of 2021. As of April 2021, the combined value of the Australian housing market climbed to $8.1 trillion, and the CoreLogic Home Value Index was 7.6% above its previous high in October 2017. Western Australia and the Northern Territory were the only state and territory where dwelling market values were not at record highs. However, low interest rates, more favourable migration trends and an uplift in mining activity is supporting a recovery in many markets across these regions.

The Perth suburbs that have reached their highest median house sale price on record

The recovery of the Perth property market continues to gain momentum, with reiwa.com data revealing 20 suburbs have now reached their highest median house sale price on record. REIWA President Damian Collins said the Perth property market last peaked in 2014 when the median house sale price hit $545,000, and now, seven years later, 20 suburbs have seen their median prices exceed where they were in 2014.

Perth Market Snapshot for the week ending 23 May 2021

Sales activity increased five per cent in Perth last week, with REIWA members reporting 922 transactions. This increase can be attributed to a five per cent increase in house sales and a 21 per cent increase in vacant land sales during the week. Unit sales volumes were unchanged.

Perth Market Snapshot for the week ending 16 May 2021

Sales activity decreased 14 per cent in Perth last week, with REIWA members reporting 889 transactions. This decrease can be attributed to a 13 per cent decline in house sales, a 15 per cent decline in unit sales and a 26 per cent decline in vacant land sales during the week.

How much can I spend on my home renovation? A personal finance expert explains

Home renovation has long been something of a national sport for many Australians, but community demand for home fix-ups has reached fever pitch since the pandemic.

The 20 Perth suburbs that have experienced price growth of 10 per cent or more in 2021

Twenty Perth suburbs have recorded median house sale price growth of 10 per cent or more in 2021. REIWA President Damian Collins said the Institute had forecast 15 per cent price growth in Perth by the end of the 2021 calendar year, but 20 suburbs had either met that figure or were on track to exceed that figure well before the end of the year.

Federal budget 2021-22: Increasing home ownership on the coalition’s terms

Housing affordability is becoming an increasing concern for first home buyers and policy makers amid recent, rapid price increases in housing values. But the double-edged sword of reducing housing values to make them more affordable, is that housing also makes up the majority of Australian household wealth; make housing more affordable for one Australian, and we risk reducing the wealth for another.

How much of the housing market can different incomes buy?

Housing affordability is becoming an increasingly pressing concern through 2021, as dwelling values continue to rise, and first home buyer activity has started to decline. Through April, national dwelling values increased 1.8%, which is six times the average monthly movement in property prices for the past decade. Adjusting the median dwelling value in Australia for this monthly uplift suggests the typical home price rose $11,240 in the space of a month.

Australian housing market surpasses $8 trillion valuation

CoreLogic today announced its estimate of the total value of residential real estate in Australia has reached $8.1 trillion. The surge in value follows the recent broad-based capital gains witnessed across the country, with many markets now at their peak. CoreLogic head of research, Eliza Owen, says “The Australian dwelling market has reached fresh record highs for the past four months, but the end of April marked the first time the total value of Australian housing broke the $8 trillion dollar mark.

WA’s HIA Home of the Year has six-car garage and walk-in wine cellar

This award-winning home in the coastal suburb of City Beach truly hits the high notes.

Crowned the Housing Industry Association’s 2020 West Australian Home of the Year, the magnificent four-level residence has accumulated an impressive list of accolades, including the WA Custom Built Home of the Year and WA Residential Interior Design award.