Page 21 - REIWA.com Market Update / June Quarter 2017

PERTH SOUTH EAST SUB-REGIONHouseMulti-ResLand10YeHouse SalesMedian PriceHighest PriceQrtly Change in Annual MedianOVERVIEWAccording to the latest ABS data (June 2016) the estimated resident population of the South East sub-region is 399,202 people over 1,310 square kilometres. The population trend in the South East sub-region is strong growth, li ing by 0.7 per cent since June 2015. This means there are 202 people occupying a square kilometre in the region.The South East sub-region remains the region with the fourth ranked region for proportion of dwelling sales, with 10.5 per cent of all sales in the Perth metro are occurring in this region for the June quarter 2017.Preliminary dwelling sales for the sub-region are 24.2 per cent lower than the same time last year. However, REIWA expects dwelling sales in the June quarter to return to similar levels of activity, approximately 700 dwelling sales which would represent a 6.8 per cent decline in activity levels in comparison to the same time last year once further transactions settle.LowerSales Quartile Median534 $325,000 $410,00014 $237,000 $260,000112 $188,000 $233,000Upper Quartile$520,000$269,000$306,250Source: Landgate/REIWA ©Qrtly change in Annual Median-1.2%-1.6%0.0%HOUSESMEDIAN PRICE (PRELIM)The 10 year average for house sales in the sub-region is approximately 884, so clearly, current activity is still dampened. Based on preliminary volumes for the quarter this represents a 39.6 per cent di erence in activity from the 10 year average.More interestingly, sale by price range analysis shows that 69.6 per cent of house sales occurred under $500,000 and the trade-up market ($500,000 to $725,000) represents 25.9 per cent. This demonstrates the South East sub-region has a healthy level of traditional rst home buyers under the $500,000 mark for houses.$410kQUARTERLY CHANGE-1.2%SALES VOLUME (PRELIM)534QUARTERLY CHANGE-28.9%SOUTH EAST SUB-REGION HOUSING MARKET$480,000 $460,000 $440,000 $420,000 $400,000 $380,000 $360,000 $340,000House Sales (RHS)TOP 5 SUBURBS BY QUARTERLY CHANGE IN PRICESource: Landgate/REIWA ©1,400 1,200 1,000 800 600 400 200 0Source: Landgate/REIWA ©3.7%0.7%0.5%-0.5%-1.0%LISTINGS FOR SALEIn the June quarter, preliminary house sales in the South East sub-region reached 534. This is 28.9 per cent lower than recorded in the March quarter 2017. However, REIWA expects house sales in the sub-region to li to around 650 once further transactions settle. This would represent a smaller decline of around 13.4 per cent compared to the previous quarter.1,357AVE SELLING DAYSar Average SalesMedian House Price (LHS)76% SELLERS DISCOUNTING66.72%AVE DISCOUNT OFFERED-7.12 %Year to June 2017Mount NasuraHarrisdaleBeckenhamCanning ValeCamillo45 $422,000 $710,000128 $527,500 $1,130,000102 $428,950 $1,780,000370 $562,000 $5,865,00053 $292,000 $445,000N.B. ltered for 30 or more sales per suburb.REIWA.COMMARKETUPDATE | JuneQuarter2017 | 21Q2 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