15/07/2022
Market News
The Top 5 suburbs to record the biggest increase in median house sale price during June were:
🏡 Edgewater (up 3.3% to $620,000)
🏡 Riverton (up 3.3% to $736,500)
🏡 Kalamunda (up 2.8% to $735,000)
🏡 Jindalee (up 2.4% to $640,000)
🏡 Padbury (up 2.3% to $655,000)
Perth's median house sale price is still the most affordable of any capital city in Australia.
There were 8,541 properties for sale on reiwa.com - 2.6% higher than May.
The median time to sell a house was 16 days in June - 2 days slower than May and 3 days faster than June 2021.
Perth's median rental price held at $470 per week. It took a median of 16 days to lease a rental property.
The suburbs that recorded the fastest median leasing times were:
❇️ Yanchep (8 days)
❇️ Atwell (9 days)
❇️ Yokine (10 days)
❇️ Perth (11 days)
❇️ Queens Park (11 days)
There were 2,296 properties for rent on reiwa.com at the end of June.
The housing shortage is the biggest issue facing the WA rental market. Whilst we have one of the most affordable rental markets in Australia there is simply not enough rentals to meet tenant demand.
If you would like to know more about the current market conditions, please give me a call or send a message on 0411 524 211