Perth suburbs show signs of life

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While Perth saw an overall drop in house sale last month, 31 of its suburbs’ sales were higher month-on-month in June, according to online real estate marketplace Reiwa.com on Tuesday.

Additionally, REIWA President Hayden Groves said that eight suburbs sales volumes stabilised over the month. 

“While house sales activity in Perth decreased in June this is not unexpected with the onset of winter, but our analysis also shows a substantial number of suburbs saw sales volumes improve during the month,” he said.

Recording significant growth in home sale between May and June, the five best performing suburbs were Duncraig, Mosman Park, Waikiki, Dayton and Palmyra. They were followed by Butler, Kelmscott, Tapping, Baldivis and Joondalup in terms of sales volume.

Data gathered by Reiwa.com showed that eight of these 10 best performing suburbs in June had median house prices below $550,000. This implies that suburbs in the $550,000 and below price bracket are seeing strong activity levels, with first home buyers making the most out of the current conditions to purchase their first property before prices rise again.

“Mosman Park was the only million dollar suburb to make the top 10 in June, with sales volumes in the suburb lifting back to normal levels in June after declining in May,” Mr Groves revealed.

REIWA foresees house sales activity to remain moderate in the capital of Western Australia throughout winter, with slight surges during spring.

 

Related stories:
Dwelling Approvals Down 1.5% In May
June Auction Clearance Rates Decline

 

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