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.
Dwelling Approvals Down 1.5% In May
June Auction Clearance Rates Decline
With interest rates at their lowest for more than 50 years, there are some great rates available. The best thing to do is to compare rates from all the lenders. Let us help take the leg work out of doing this - Compare Home Loans now
Top Suburbs :
Get help with your investment property
Do you need help finding the right loan for your investment?
When investing in property, it is important to make sure that you not only have the lowest available rate that you can get, but also have the correct loan features for your needs.
Just fill in a few details below and we'll then arrange for a local Aussie Mortgage Broker to contact you and work out what features or types of loans are right for your needs. We'll even help with the paperwork. Plus an appointment is free.
We value your privacy and treat all your information seriously - you can check out