Butler leads with home sales

There were 31 homes and units sold in Butler in the first two months of the year. File picture.


HOME sales were stronger in Butler during the first two months of the year than elsewhere in the Wanneroo local government area, according to just released Real Estate Institute of Western Australia data.

Twenty-four homes and units sold in Butler during the month to January 16 and seven sold in the month to February 16.

In Yanchep area there were 12 sales up to January 16 and three up to February 16.

Two Rocks recorded two sales in the month to January 16 and one sale in the month ending February 16.

In Alkimos six homes and units sold up to January 16 and eight up to February 16.

In Jindalee four sold in the month up to January 16 and three up to February 16.

A total of 183 homes sold in the local government area of Wanneroo.

In the Shire of Gingin five homes or units sold in period up to January 16 and three in the month up to February 16.

Two sold in Gingin in the month up to January 16 but none in the following month.

On home sold in Ledge Point up to January 16 and one in the following month.

In Guilderton one home sold in each period.

A REIWA spokeswoman said there were no settled sales transactions in the month of Jan-16 and Feb-16 for Carabooda, Eglinton, Nowergup and Neerabup.

She said other suburbs within the Shire of Gingin were not on the list either because there were no transactions during that period.

Last month REIWA president Hayden Groves said the market had enjoyed a healthy rebound following the Christmas and New Year dip.

“reiwa.com data shows sales activity in Perth lifted 16 per cent over the month and five per cent when compared to November 2015.

Mr Groves said at a sub-regional level, the central sub-region had the strongest increase in sales activity over the month lifting a healthy 37 per cent, followed by the north west sub-region with a 24 per cent lift.

“Baldivis in the south west sub-region and Canning Vale in the south east sub-region were the top selling suburbs in February, followed by Scarborough in the central sub-region,” he said.

He said Perth’s median house price etched back 1.1 per cent in the three months to February, coming in at $529,000.

Mr Groves said there had been a three per cent increase in listings in February which was not surprising as vendors traditionally returned to the market at the start of the year.

“This is a marginal increase given the time of year, but it’s significant to note that listings are now 8 per cent lower than they were in November which suggests this could be the early stages of a correction in a market of prolonged higher than average stock levels.’’

Meanwhile Perth’s overall median rent price held steady at $400 a week in the three months to February.

In terms of houses and units, Mr Groves said the median price for both was unchanged over the month at $400 and $380 a week respectively, but each had fallen $10 a week when compared to November last year.

“While tenants are still in a good position to secure a competitively priced lease in Perth, it’s encouraging for investors that rent prices are appearing to steady in 2016.’’

Rental listings in the Perth metropolitan area declined three per cent in February but remain above the long term average.