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The Real Estate Institute of Western Australia has launched a quarterly publication, which is free to the Western Australian public in soft copy.
REIWA CEO Neville Pozzi said reiwa.com’s Market Update – which highlights real estate activity across Western Australia — has been revamped and is now available in an accessible and easy-to-digest way.
“Property data can be quite complicated, but it’s important to have a good understanding of your local area’s market trends and performance when buying, selling or investing.
“The new look we have given reiwa.com Market Update breaks down the quarterly performance of the Perth metro area, both at a high level and at a sub-regional level, so you know exactly how your area compares,” Mr Pozzi said.
Market Update also includes a comprehensive five-page spread on WA’s regional centres, an update on the Perth rental market, feature articles and an economic wrap-up.
“The WA public now has a reliable, informative and visually appealing real estate publication to help them get to know their local property markets at a deeper level,” Mr Pozzi said.
Earlier, Mr Groves said while home ownership is becoming increasingly difficult in some parts of Australia, this isn’t the case in Perth.
"First home buyers remain active and continue to take advantage of improved affordability and choice in the market to secure a property that meets their needs,” he said.
“These factors, combined with record low interest rates, makes for positive buying conditions for those looking for a first home.”
Perth’s median house price slipped over the first quarter of 2017, with the preliminary median coming in at $505,000 for the three months to March.
“This softening in median price is due to the ongoing trend of comparatively more transactions occurring in the lower end of the market, with fewer sales of properties in the $700,000 to $1.5 million price range,” Mr Groves said.
“However, once all transactions have been accounted for, it’s likely the median will lift to around $517,000, just shy of December’s quarterly median.”
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