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Perth housing lot sales remain steady

Land sales in Perth remained fairly steady in the March quarter, sliding just 1.7 per cent from the previous quarter, according to data from the Urban Development Institute of Australia (UDIA) (WA).
Sales of lots in the Perth metropolitan region totalled 1,168 - 20 lots fewer than were sold in the December quarter.
However, the overall sales trend since December 2006 has been down, with the exception of a 49.7 per cent spike in activity in June last year.
For the March quarter, the average lot price in Perth was $299,409, dropping more than 25 per cent over the three month period.
However, the sale of a number of premium coastal lots in Cockburn, which pushed the suburb's average to $981,517 last quarter, was blamed for inflating the overall average price.
The March quarter average price was down 3.8 per cent on last year's September quarter.
Suburbs with positive price growth included Wanneroo (7.7 per cent) and Mandurah (7.2 per cent), while prices in Cockburn and Kwinana fell, by 55.6 per cent and 13.2 per cent, respectively.

An announcement from the UDIA WA is pasted below:

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