ALKIMOS was among the fastest selling suburbs for houses in the Perth metropolitan area in November, according to REIWA.
House in Alkimos, Beeliar, Maylands, Orelia and Palmyra sold in a median of six days while houses in Waikiki, Melville, Mount Lawley, Mount Pleasant and Riverton sold in a median of seven days.
REIWA said houses in Perth sold in a median of 13 days in November – one day slower than October and four days slower than a year ago – but up from the nine days recorded for most of 2024.
Units also sold in a median of 13 days, one day slower than last month, but unchanged from 12 months ago.
REIWA chief executive officer Cath Hart said median days on market had been rising for the past few months and the change reflected the increase in the number of listings for sale over the same timeframe.
“New listings are at their highest level in three years and this is giving buyers more options than they’ve had for some time,” she said.
“Our members report buyers are taking a little more time in their purchasing decisions.
“As a result, homes are taking slightly longer to sell, however Perth remains a seller’s market.
“Homes in Perth are selling in around two weeks now which is still incredibly fast — by comparison, pre-Covid-19 the median time to sell was more than 40 days.
“Demand remains strong – our members are reporting good attendance at home opens, they are still receiving multiple offers in most cases and prices are still rising.
“However, strong price growth over the past year means affordability is a growing issue and buyers are becoming more price conscious.”
The increase in new listings and slightly longer time to sell also saw active listings* rise.
“The number of properties for sale in Perth on www.reiwa.com was 5576 at the end of November.
“This was 10.9 per cent higher than October and 17 per cent higher than a year ago.
Perth’s median house sale price rose 1.7 per cent to $727,500, which was 22.3 per cent higher than November 2023.
The median unit sale price increased 2.1 per cent to $485,000.
This was 18.3 per cent higher year-on-year.
The Perth suburbs that saw the most growth in their median house sale price in November were Shoalwater (up 3.1 per cent to $773,500), Currambine (up 3.1 per cent to $872,000), Carramar (up 2.7 per cent to $841,000), Warnbro (up 2.5 per cent to $615,000) and Duncraig (up 2.5 per cent to $1,153,000).
Innaloo, High Wycombe, Balcatta, Balga and Coolbellup were also among the top performers, recording growth of 2.1 per cent or more over the month.
