13 Aug 2015
Perth Market Update - August Edition

Perth Market Update - August Edition

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Guid,Tips,Selling,Auction real estate agents

Welcome to another Naked Real Estate market update for the Perth metropolitan area. I hope you find this information of benefit to you.

The current number of homes on the market at the moment sits around 13,792. That broken down comes to 8,712 homes, 2,957 units and 2,123 blocks of land. As predicted there has been a drop in the median price over the last quarter at $550,000 down to $530,000. Turnover is down about 38% at the moment from last year where there was in the same month 692 sales last year and this year we’ve got 458 sales. 

As we predicted last month the rental vacancy rate has continued to climb and it’s gone from 6.3% to 7% with 8,512 homes now sitting vacant. The rental median price is now $420 a week, that’s a drop over the last 12 months of about $55 per week. So investors will be feeling the pinch a little bit and as we always say, if you invest for the long time you should be okay in this market. Now that brings us to the average days on market across the metropolitan area, that’s sitting at about 71, which is pretty high when you consider our days on market here at Naked sitting at around 42 – 45 days.

I hope you found the latest market update for August useful. Please don’t forget to like/share/comment below so that we all can make a better informed decision about our real estate needs now and into the future. People are saying it’s a buyer’s market and here at Naked we agree. So go out and buy a house this week with confidence knowing that you’ve probably picked at the bottom in the market. Remember Naked stands for not covering anything up, so feel free to give us a call or comment in the section below. 

Written by Brendan Leahy

Perth Market Update - August Edition
Brendan Leahy

Brendan began his real estate career over 12 years ago and in that time has personally sold in excess of 1,020 homes. While he loved seeing people achieve their dream of a new home for their family, Brendan kept thinking that there had to be a better way of doing real estate - one with respect for the long term benefit of the client and one that focuses on customer satisfaction. While service is a given, our concentration is on hte outcome to give you the best possible experience with us.

As such, he started Brendan Leahy Real Estate in 2006. After many years of research and training, Brendan saw the need for a new system and Naked Real Estate emerged in 2012. The name reflects the company's primary objective of providing excellent customer service that is 100% transparent.

Brendan strongly believes in delivering an exceptional and incomparable service. Having lived and worked in the hills for over 12 years, Brendan has a wealth of experience in the area. Below is a map showing the properties Brendan has sold, all over Perth.

View all posts by : Brendan Leahy

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