Perth Market Snapshot for the week ending 24 JuneNEW 25 June 2015
Perth Market Snapshot for the week ending 24 JuneNEW25 June 2015
 Despite last weekend’s bad weather, reiwa.com data shows a nine per cent increase in sales over the last week, which may also reflect a small flurry of end of financial year activity. The increase in overall sales also flowed through to a drop in listings this past week. House sales increased 10 per cent over the last week, which was due in large part to sales north of the river lifting 12 per cent to push the overall house sales figure to 700. This number is above the lower weekly average activity level seen since Easter (650 sales), and back to the pre-Easter average level of 702 sales. The drop in average activity since Easter, despite the May rate cut, is reflected in the latest reading of consumer sentiment in Western Australia. The June reading of sentiment in WA by the Westpac–Melbourne Institute pushed firmly back into pessimistic territory, while the ‘time to buy a dwelling” sits around 100 for a third month after a 31 per cent fall between February and April. In Perth’s rental market, the continuing one to two per cent weekly lift in listings over the past three months is now reflected in the latest preliminary vacancy rate figure of 4.9 per cent for the three months to May. |