MARKET SNAP SHOT

Perth Market Snapshot for the week ending 27 May

28 May 2015

In this week’s Perth Market Snapshot, all of the action was south of the river as overall sales lifted seven per cent. 

The 10 per cent increase in house sales across the market was driven by a 19 per cent rebound in south of the river house sales to 262, which is the same level as two weeks ago. Small rises in multi-residential and land sales also contributed to the increase in sales south of the river. 

Little changed north of the river, which has remained relatively stable across May with total sales tracking in a narrow band between 369 and 393. 

Stronger house sales in the past week saw house listings fall 0.5 per cent, which was adequate to nullify the impact of a 2.5 per cent increase in land listings with overall listings remaining virtually unchanged. 

Land listings have been creeping up over the past 12 months and have reached their highest level since early November 2012. 

Rental listings are up again this week by a further 1.7 per cent due to a 2.6 per cent increase in houses available for lease. Based on recent trends, rental listings are likely to reach the 8,000 mark by the end of the financial year. 
People that are wanting to buy should just buy, if you hang off and wait to see if the market pulls off a bit more the next thing you know the market has move up wards.  With interest rates looking like going down again it will definitely stimulate more people to buy.  I just hope they factor in the normal interest rate of 8.8% in their calculations.


MAKE YOUR OWN DECISIONS AND GIVE IT A REAL GO !!