Page 20 - REIWA.com Market Update / June Quarter 2017

PERTH NORTH EAST SUB-REGION10 Year Average SalesSUBURB SPOTLIGHTExplore KalamundaNamed from an Aboriginal word meaning ‘home in the forest’, Kalamunda isa residential and parkland suburb with minor commercial sectors. Signi cant development of Kalamunda did not begin until the post-war years, with accelerated growth experienced through to the 1970s. The area provides residents with a lifestyle removed from over urbanisation with an array of parks and reserves dominating the suburb.During the latest June 2017 quarter, preliminary gures suggest activity levels have declined. 19 house sales transactions have settled so far based on Landgate data which is lower than the 22 house transactions recorded during the previous March 2017 quarter. However, REIWA expects that once further transactions settle for the latest quarter, activity levels for the latest quarter will be approximately on par with the March quarter. For comparison, the 10 year average gure is 31 sales per quarter. The preliminary median house price for the June 2017 quarter comes in at $600,000, which is up 11 per cent on the March quarter. However, annually, the median price for Kalamunda is down by 12 per cent.The multi-residential market in Kalamunda is tiny, representing 12 per cent of total dwelling sales. Nevertheless, three transactions have settled so far based on preliminary June quarter gures, down from the four recorded during the March quarter. The 10 year average gure is three sales per quarter which suggests that the latest quarterly gure, although low, is at the long-term average.Properties for sale in the suburb of Kalamunda have declined over the latest June quarter. There were 35 houses and seven units for sale at the end of the June quarter which is 4.5 per cent lower than that seen in the March quarter. A di erent story can be told for the rental market where stock for lease has grown to 20 houses and seven units. Overall median rent prices have reduced over the latest quarter by $40 to $310.KALAMUNDA HOUSING MARKET$750,000 $700,000 $650,000 $600,000 $550,000 $500,000 $450,000 $400,000 $350,000House Sales (RHS)KALAMUNDA MULTI-RESIDENTIAL MARKET$600,000 $550,000 $500,000 $450,000 $400,000 $350,000 $300,000 $250,000Multi-Residential Sales (RHS)For more information about your suburb, visitSource: Landgate/REIWA ©50 45 40 35 30 25 20 15 10 5 0Source: Landgate/REIWA ©8 7 6 5 4 3 2 1 0Median House Price (LHS)10 Year Average SalesMedian Multi-Residential Price (LHS)20 | REIWA.COMMARKETUPDATE | JuneQuarter2017Q2 2012 Q3 2012 Q4 2012 Q1 2013 Q2 2013 Q3 2013 Q4 2013 Q1 2014 Q2 2014 Q3 2014 Q4 2014 Q1 2015 Q2 2015 Q3 2015 Q4 2015 Q1 2016 Q2 2016 Q3 2016 Q4 2016 Q1 2017 Q2 2017Q2 2012 Q3 2012 Q4 2012 Q1 2013 Q2 2013 Q3 2013 Q4 2013 Q1 2014 Q2 2014 Q3 2014 Q4 2014 Q1 2015 Q2 2015 Q3 2015 Q4 2015 Q1 2016 Q2 2016 Q3 2016 Q4 2016 Q1 2017 Q2 2017