Perth property prices record biggest weekly fall Well, it brings no joy to report this week that the interest rate hikes have led Perth to record the largest weekly fall in property prices since the beginning of the year. The nearly 0.2% decline is a concern because, as the following chart illustrates, it highlights the…
Latest REIWA Data Despite increasing sales and listings at the lowest levels in years, Perth recorded a slight decline in property prices this week. Sales increased by 5%, with Perth recording 1,123 sales while listings remained steady with 7,903 properties for sale. Sales and listings are currently at very similar levels to February and March…
APRA Increases interest rate buffer Last week we reported that the Australian Prudential Regulation Authority (APRA) and the Reserve Bank of Australia were looking to tighten lending standards due to the rapid increase in property prices. We anticipated the tightening would not be focused on investor lending, rather the focus would be on the income…
Monthly hours worked This week sales rebounded by 8% with Perth recording 875 transactions which is very close to our 3-month average of 891. The increase was driven by houses and units registering an 8% and 31% increase respectively, however, vacant land sales fell by 18%. Listings decreased by 1% this week with 8,510 properties…
Monthly hours worked This week’s real estate figures have proven very consistent with recent trends and averages. Perth recorded 882 sales for the week, which is almost exactly our 3-month average of 884 weekly sales. The 14% increase in sales was basically driven by a 16% increase in house sales. Listings remained steady again this…
WA employment figures Weekly Real Estate Data This week Perth sales increased by 5% recording 992 transactions. The increase was mainly attributable to a 21% increase in vacant land sales. However, listings again provide the point of interest. Listings increased by 1% again this week, recording 9118 properties for sale. The graph below shows listings…
Inflation Weekly Real Estate Data Sales decreased by 34% with Perth recording 645 transactions, down from 979 the week before. The rather large decline is being attributed to the latest coronavirus lockdown. The declines were spread relatively evenly amongst houses 33%, units 50% and vacant land 40%. Listings are again trending upwards with 8,907 properties…
Monthly Hours Worked In this newsletter we will cover the latest weekly real estate statistics and the latest employment figures. Sales remained relatively stable over the past week with Perth recording 1010 sales, again just over the 1,000 mark. House sales decreased by 4%, while units sales increased by 11% and vacant land increased by…
Latest REIWA Statistics Sales activity jumped back up 10% this week to 1,020, pushing back through the 1000 mark again. The increase was driven by a 13% increase in house sales, 17% increase in unit sales but a 16% decrease in vacant land sales. Sales activity was strong again this week and although it may…
ABS Data This week we will review the real estate data over the past fortnight, Corelogic’s December quarter rental report and ABS data regarding loan commitments and property valuations. Over the past two weeks sales have continued to rebound strongly after the Christmas/New Year period. For the week ending the 17/01/2021, sales increased by 10%…