Hi, I’m Rachael Hewson and I’m the Naked Real Estate specialist for Roleystone. Having lived in the area the last 23 years I call Roleystone home and it is my pleasure to deliver to you the August market update.
Let’s look at the Perth market first. There is currently 13,792 homes on the market, this includes 8,712 houses, 2,957 units and 2,123 blocks of land. The median house price for this quarter was $530,000 down from $550,000. This year there was 458 properties sold compared to last year 692, that’s a 38% drop. Properties are sitting on the market for an average of 71 days, vendors are discounting their price by 6%.
There are currently 8,513 rentals on the market and the vacancy rate is at 7%. The median rent price is currently $420 per week which is a drop of $55 over the past two years.
Lets look at Roleystone. There’s currently 70 homes on the market for sale. 6 sold in July and 3 went under offer. The median price for Roleystone in the last six months is $567,500. In the last year 63 homes sold and the average time on market is 92 days.
Naked Tip for August
Marketing your property is key. Don’t neglect to invest money into marketing to ensure you get the best possible price.
Thank you for taking the time out to watch this video. I hope this information is useful whether you’re buying, selling or just curious about today’s market. Don’t forget to like comment and share this video. Remember Naked is about covering nothing up, so if you have any questions please feel free to leave a reply below.