Gross Domestic Product This week we will look at the tightening real estate data for Perth and the September GDP figures. Sales this week recorded above 1000 for the second week in a row. The 4% increase to 1074 sales was driven almost exclusively by a 44% increase in vacant land sales signifying the government…
Perth Growth Number 1 Nationally This week we will be focusing exclusively on the latest real estate data reviewing rental listings, sales, listings and Corelogic’s November home value index for Perth and the other capital cities. Rental listings remained steady at 2,875 this week and have been around this mark for a couple of months.…
Perth Vacancy Rate October’s residential vacancy rate in Perth has slightly lowered compared to the previous month and now sits at 0.95 per cent, which is close to the 40 year low of 0.8 per cent reached in 2007. This comes at a time when low levels of investor finance demand is being recorded in Western Australia.…
Westpac’s House Price Forecast This week we are looking at the continuing stability in weekly sales and listings, the continuing decline in rental listings, the proposed Government changes to credit availability and Westpac’s recent house price forecast. Sales increased by 8% this week to 883 but are still in the same consistent range while listings…
State Final Demand This week sales increased by 11% to 916, fuelled by a 19% increase in unit sales and a 48% increase in vacant land sales. The graph below shows that over the last 12 months sales have averaged 642 per week (red line) and we can see that since the 14th of June…
Monthly Hours Worked Sales over the past two weeks decreased by 10% from 803 to 716 then increased by 19% to 834. Listings increased by 1% from 10,735 to 10,798 and then remained stable recording 10,807. House, unit and vacant land listings all are remaining relatively very stable over the recent period. The graph below…
Consumer Confidence This week there was very little change in real estate activity. Sales decreased from 855 to 803, listings remained basically the same along with rental listings. The latest Westpac-Melbourne Institute consumer sentiment survey for August showed consumer confidence fell by 9.5%. Westpac’s economists said the size of the fall was a “major surprise”.…
CoreLogic July 2020 Results This week sales reversed the recent downward trend with 855 sales being well above our 12-month average of 613. There was an 8% increase in house sales, 55% increase in vacant land sales and no change in unit sales. Listings continued their very recent reversal of its downward trend, increasing by…
Perth rental market This week sales continued to trend downwards with a 5% drop to 747. House sales fell by 5% and vacant land fell by 16% but the surprise was a 19% increase in unit sales. The graph below shows sales figures continuing back towards our average over the last 12 months (red line)…
Unemployment and local Housing Data update This week sales have continued to decline even though they are still above average. Sales decreased by 5% to 799 with a 2% increase in house sales, a 21% decrease in unit sales and a 14% decrease in vacant land sales. The weekly sales graph below shows how quickly…