Considerable growth in Perth’s residential housing market last month and an increase in activity predicted in the new year means quick sales are the order of the day.
Jones and Co director Kelly Jones said it was pleasing to see houses and units were continuing to perform well, with CoreLogic reporting a seven per cent annual increase in houses and a 20.4 per cent rise in price for units.
The suburb to see the biggest spike in sales activity growth in October was Yanchep with a massive rise of 133 per cent.
Kelly said this was largely due to the high number of land sales as buyers realised the value of the pristine but established beachside gem.
She said has become a thriving little hub of community-focussed residents who had discovered an affordable coastal lifestyle within an easy commute of the CBD.
“The suburb’s new facilities and much-anticipated public transport links mean more and more people are wanting to make the move to Yanchep,” she said. “Metronet’s rail extension from Butler to Yanchep is expected to be up and running by 2022 which means a travel time to the city in just 50 minutes.”
Kelly said that with a median house price of just $370,000, Yanchep represented exceptional value in such a competitive market.
REIWA president Damian Collins said stock levels had decreased across Perth, with 10,272 properties for sale on reiwa.com – 27.8 per cent less than this time last year.
Mr Collins said the median number of days to sell a property had also dropped to an average of just 25 days – three days quicker than September and 22 days quicker than October 2019.
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