Page 9 - REIWA.com Market Update / June Quarter 2017

PERTH METRO REGION10 Year Average SaleSALES (PRELIM)MULTI-RESIDENTIALThe median unit price in the Perth Metro region declined by 1.8 per cent during the June 2017 quarter to $412,000. A total of 927 unit transactions have settled for the quarter so far and reiwa.com data suggests the nal gure will trend closer to 1,190. This would represent a 16.2 per cent decrease in transactional activity against the March 2017 quarter’s 1,420.Looking at the composition of sales by dwelling type, home unit sales made up 31 per cent of all transactions followed by villas, apartments, town houses and ats.On 30 June 2017, there were 2,946 unit listings for sale. The average time to sell a unit totaled 82 days which is two days less than it took during the prior quarter.Source: Landgate/REIWA ©927SALES PERCENTAGE CHANGE QTR-34.7%UPPER QUARTILE$535kPERTH METRO REGION MULTI-RESIDENTIAL MARKETMEDIAN (PRELIM)$412k$470,000 $460,000 $450,000 $440,000 $430,000 $420,000 $410,000 $400,000 $390,000 $380,000VACANT LAND2,500 2,0001,500 1,000 500 0LOWER QUARTILEs$325kQRTLY CHANGE IN ANNUAL MEDIAN-1.8%Multi-Residential Sales (RHS)Median Multi-Residential Price (LHS)SALES (EST)The median price for a parcel of vacant land in the Perth Metro region increased by 12.6 per cent during the June 2017 quarter to $285,000. A total of 555 vacant land transactions have settled for the quarter so far and reiwa.com data suggests the nal settled gure will trend closer to 800. This would represent a 48.9 per cent decrease in transactional activity against the March 2017 quarter’s 1,566.800By land size, 31 per cent of transactions occurred on parcels less than 320 square meters, whilst 46 per cent were for vacant land with an area of 320 to 499 square meters. Transactions for larger sized vacant land parcels over 600 square meters comprised 13 per cent of activity. At the end of the June 2017 quarter, there were a total of 2,585 vacant land listings for sale on reiwa.com. The average time to sell a parcel of vacant land totaled 115 days which is two days less than it took during the prior quarter.SALES PERCENTAGE CHANGE QTR (EST)-14.7%UPPER QUARTILE$405kMEDIAN$285k$212.6kPERTH METRO REGION VACANT LAND MARKETSource: Landgate/REIWA ©LOWER QUARTILE$290,000 $270,000 $250,000 $230,000 $210,000 $190,000 $170,000 $150,0005,000 4,500 4,000 3,500 3,000 2,500 2,000 1,500 1,000 5000QRTLY CHANGE IN ANNUAL MEDIAN10 Year Average SalesMedian Land Price (LHS)12.6%Vacant Land Sales (RHS)REIWA.COMMARKETUPDATE | JuneQuarter2017 | 9Q2 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