Perth Market Snapshot for the week ending 17 April 2022
Sales activity decreased 10 per cent in Perth last week, with REIWA members reporting 883 transactions.
Sales activity decreased 10 per cent in Perth last week, with REIWA members reporting 883 transactions.
Since the onset of the COVID-19 pandemic in March 2020, Perth home values have increased 21.6 per cent, sales activity is up 56 per cent and the median time to sell has dropped from 43 days to just 14 days.
In its 2022-23 pre-budget submission, REIWA has called on the Western Australian Government to introduce a one-off $10,000 stamp duty concession for seniors aged 65 and over.
The Perth rental market is significantly more affordable than it used to be, with reiwa.com analysis showing 235 suburbs had median house rents below their peak prices in May 2021.
reiwa.com settled sales data for the March 2021 quarter has revealed that 10 Perth suburbs have more than doubled their sales volumes when compared to the March 2020 quarter.
Despite strong market conditions, Western Australia is still the most affordable state for housing and rentals, according to the Real Estate Institute of Australia’s (REIA) latest Housing Affordability Report.