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The latest June quarter figures from the Real Estate Institute of Western Australia have just been released and are showing some interesting data. Showing there were 90 sales for the late quarter basically an annual growth of negative -1.3%, over a 5 year period a .9% growth and then over a 10 year period a negative -.9%. So that is a certainly a reflection of what has been happening in the market place.
The average selling time frames for days on market is now 85 days compared to other regional areas being Geraldton 81 days, Kalgoorlie 102 days and Broome 114, so not too bad compared to other regional areas.
The median price for the last quarter was $363,500, that was an increase on the previous quarter which was $350,000. We now sit around $380,000 as an average base.
Leasing wise; 179 leased for the June quarter and that showing an average rent of $343 per week. So not too bad for landlords.
Some very interesting information, a little snapshot of the market place. If you would like to know more about that please feel free to call us at Merrifield Real Estate.