This week's property round-up
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Perth metropolitan sales
reiwa.com property sales data for the overall market for the week ending February 2 totalled 723, which represents a 36 per cent increase in total sales over the week.
The latest figures show sales volumes trending higher since the beginning of the new year after the expected decline in sales during December 2015.
This week’s increase in volume points out the seasonal increase in sales activity during the first week of February, as has been the case in previous years. It is also timely to note that sales for this week are the highest seen since early July 2015.
Looking at the individual sectors, reiwa.com data shows that total sales for houses sit at 723 (from 533), an increase of 36 per cent in comparison to last week.
Unit sales had a similar change from 404 to 543 this week, an increase of 34 per cent. Likewise, land sales recorded an increase of 35 per cent from 43 to 64 over the week.
Member real facts
This week, Reiwa members reported an increase in weekly sales to 723.
The overall 36 per cent increase in sales over the week is attributed to a 34 per cent increase in sales for houses, 35 per cent for units and 49 per cent for land.
It is timely to note that weekly sales have been trending higher since the beginning of the new year. In line with the increase in sales, total properties listed for sale recorded a marginal decrease of 1 per cent to 14,782 this week from 14,997 last week.
Listings of houses and units both declined 1 per cent, while land listings have decreased further, by 3 per cent. However, the total number of listings recorded this week is 3 percent higher than four weeks ago and 15 per cent higher compared with the same time last year.
Turning to the rental market, Reiwa members reported a decrease of 1 per cent in total properties available for rent over the week from 10,104 last week to 10,042 this week.
However, this is 2 per cent higher than figures seen four weeks ago and 58 per cent higher than the same time last year.