31/03/2016 - 13:08

This week's property round-up

31/03/2016 - 13:08

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Latest demographic data as at September 30 2015 indicates WA’s population continues to slow. 

WA population growth continues to slow

Latest demographic data as at September 30 2015 indicates WA’s population continues to slow. The year to September 2015 growth rate is 1.26 per cent, down from the 1.51 per cent growth rate experienced for the year to September 2014.

However, the latest growth rate figure is almost on par with that of the whole nation’s average growth rate at 1.33 per cent.

Net interstate migration declined further into negative territory during the September 2015 quarter, while net overseas migration figures suggest a slight upturn in the number of people moving into the state from overseas.

The natural increase in population continues to trend sideways.

The continuing fall in population growth, which is a lagging indicator confirms the weakening demand for rental property.

Member Real Facts

Reiwa members reported a decrease in weekly sales to 420 this week.

The overall 38 per cent decrease in sales over the week is attributed to a 41 per cent decrease in sales for houses, 31 per cent for units and 25 per cent for land.

However, it is timely to note that the changes in sales figures may be attributed to seasonal effects typically seen during the Easter break, when sales are usually weaker.

Total properties listed for sale remained unchanged in percentage terms at 15,460. Listings for houses and land have not changed in percentage terms, while unit listings have decreased by 1 per cent.

The total number of listings recorded this week is 4 per cent higher than four weeks ago and 13 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 9,615.

This is 3 per cent higher than levels seen four weeks ago and 45 per cent higher than the same time last year.

  

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