This week's property round-up

Perth metropolitan sales

reiwa.com property sales data on the overall market for the week ending March 15 totalled 605, which represents a 15 per cent increase in total sales during the week.

The latest figures show sales volume trending slightly below the four-week average figure of 628. However, a more stable medium-term view shows sales volume trending marginally higher in comparison to average levels seen so far this year.

This week’s increase in sales volume comes on the back of a 25 per cent decrease seen last week, confirming a retracement in volume figures this week.

Looking at the individual sectors, reiwa.com data show that total sales for houses sit at 605 from 528, an increase of 15 per cent in comparison to last week.

Land sales had an even larger change from 40 to 55 this week, an increase of 38 per cent. However, unit sales recorded a marginal decrease of 4 per cent from 101 to 97 over the week.

Member Real Facts

This week, Reiwa members reported an increase in weekly sales to 605. The overall 15 per cent increase in sales over the week is attributed to a 17 per cent increase in sales for houses and 38 per cent for land.

However, unit sales are down by 4 per cent over the week. Total properties listed for sale recorded an increase of 3 per cent to 15,648 this week from 15,178 last week.

Listings for houses and units have increased 4 per cent and 3 per cent respectively, while land listings have increased but only marginally, by 1 per cent.

The total number of listings recorded this week is 3 per cent higher than four weeks ago and 12 per cent higher compared with the same time last year.

Turning to the rental market, Reiwa members reported total properties available for rent increased by a marginal 1 per cent over the week to 9,941.

This is also 1 per cent higher than levels seen four weeks ago and 52 per cent higher than the same time last year.