Page 31 - REIWA.com Market Update / June Quarter 2017

REGIONAL WASPOTLIGHT ON GERALDTONPreliminary house sales for Geraldton are 20 per cent lower than the ve transactions recorded in the March quarter.Prices in Geraldton have strengthened over the quarter. The preliminary June quarter median house price is $300,000. This is ve per cent higher than the March quarter and 11 per cent higher than the same time last year.Total listings for sale have risen by 15 per cent over the quarter to count 69 in Geraldton and the average time to sell a property has reduced drastically to record 87 days.The rental market in Geraldton has been stable with median house rents remaining at $270 per week during the June quarter. In contrast, rental stock levels have declined signi cantly over the quarter.SPOTLIGHT ON MOUNT TARCOOLAPreliminary house sales for Mount Tarcoola are 17 per cent lower than the 12 transactions recorded in the March quarter.Prices in Mount Tarcoola have strengthened over the quarter, with the preliminary June quarter median house price at $347,500. This is 16 per cent higher than the March quarter and 12 per cent higher than the same time last year.Total listings for sale have fallen by three per cent over the quarter to count 37 in Mount Tarcoola and the average time to sell a property has raised to 99 days.The rental market in Mount Tarcoola has strengthened with median house rents increasing to $300 per week during the June quarter. Rental stock levels have also grown over the quarter to count 17.SPOTLIGHT ON WANDINAPreliminary house sales for Wandina are eight per cent lower than the 12 transactions recorded in the March quarter.Prices in Wandina have weakened over the quarter, with the preliminary June quarter median house price at $375,000. This is nine per cent lower than the March quarter and seven per cent lower than the same time last year.Total listings for sale have fallen by 17 per cent over the quarter to count 63 in Wandina and the average time to sell a property has reduced to 91 days.The rental market in Wandina has been stable with median house rents remaining at $340 per week during the June quarter. Likewise rental stock levels have also remained stable over the quarter.For more information about your area, visitREIWA.COMMARKETUPDATE | JuneQuarter2017 | 31