Sales drop in March

MARCH quarter sales have declined more than 10 per cent when

compared to the corresponding quarter of 1999 according to the latest land supply survey undertaken by the WA division of the Urban Development Institute of Australia.

Since the June 1999 peak of 1,983 sold lots, the number sold has droped by almost 600.

Countering this drop is a huge jump in the average price of lots sold.

In the twelve months to March, prices lifted 37 per cent from $73,331 to $100,309.

The past three months alone have seen lot prices increase 7 per cent.