promise for Perth sales figures
New findings from the Real Estate Institute of Western Australia (REIWA) highlight growth in Perth's property market, which is bound to be well received by property owners across the city. However, sales are down.
While September is typically known as a slower sales month, that wasn't quite the case across Perth during the late end of the month, according to REIWA President David Airey.
"Actually, it's always the case that September is a slow sales month with Father's Day, various sporting finals, the Royal Show and the long weekend interrupting things," he said.
Overall sales number during 2014's third quarter slipped 7 per cent from the previous quarter, and by 15 per cent on the previous year. However, there are pockets of promise across the city, both with regards to sale activity and value growth rates.
The metropolitan median house price lifted 1 per cent in the three months to September, while there is also evidence of sales activity picking up in certain areas.
Perth's metropolitan median home price is now $544,000. Sales turnover in the area close to the Perth CBD picked up slightly in September, according to Mr Airey.
"Areas that saw a pick-up in sales for September included the eastern and western parts of the City of Stirling, the cities of Fremantle, Vincent and Melville along with the Town of Kwinana," the REIWA stated on October 1.
It's not just existing properties that families may be attracted to - many elect to build from the ground up, after selecting a single or double storey home design that meets their unique needs.
Building a new home in an area tipped for solid capital growth is always a sound idea, and something first-time and current homeowners may wish to explore.