Jindalee makes top five in December quarter

Jindalee recorded a 3.1 per cent increase its annual median house price giving it a boost despite a 4.8 per cent fall for the year to December.

JINDALEE was in the top five for its annual median sales price for the December quarter with an increase of 3.1 per cent.

The annual median house price in Jindalee in the December quarter was $662,500. The highest sale price in Jindalee in the year to December 2015 was $1 million.

Jindalee and Butler were both in the top 10 for land sales growth in the year to December with Jindalee recording an increase of 6.8 per cent and Butler 12.6 per cent.

Yanchep was in the bottom 10 suburbs with its annual median house price falling by 10.7 per cent ­– the median house price in Yanchep in the December quarter fell by 3.6 per cent.

The median house price for Yanchep for the year to December was $419,500.

Last year 81 houses sold in Alkimos where the median sales price was $487,000.

In the same period 232 houses sold in Butler where the median sales price was $435,000.

According to Real Estate Institute of Western Australia data 30 homes sold in Jindalee in 2015.

Forty-four houses sold in Two Rocks in the 12 months to December with the annual median sale price falling by 1.7 per cent to $405,000.

During the past 12 months REIWA data shows 126 homes sold in Yanchep.

Real Estate Institute of Western Australia president Hayden Groves said the preliminary data for the December quarter demonstrated the expected impact the Christmas and New Year period traditionally had on the property market.

“It’s not uncommon to see a fluctuation in the market at this time of year as it is typically a quieter time in WA real estate,’’ he said.

“Properties come off the market over the holidays and sales tend to drop off.

“We get a much clearer picture of how the market is travelling when comparing the data to the December 2014 quarter.

Mr Groves said Perth’s preliminary median house price came in at $530,000 for the three months to December 2015.

“This is down 0.2 per cent on the revised September 2015 quarterly median and down five per cent when compared to the December 2014 median, however on an annual basis for the year to December 2015 Perth’s median house price held firm dipping just 1.8 per cent.

He said the median price for units in Perth lifted 1.2 per cent to $435,000 over the quarter, but had eased off 2.2 per cent on the December 2014 quarterly median price.

Mr Groves said further analysis of the data showed that 35 per cent of all house sales in the Perth metro area occurred in the $360,000 to $500,000 price range.

“This shows us that first home buyers are still very active and recognise that there is an opportunity in the current market to take the step into home ownership.

Listings for sale dropped 3.8 per cent to 14,551 in the December quarter, following a peak of 16,969 in November.

“It’s not uncommon for listings to drop off at this time of year as traditionally properties are taken off the market around the holiday period before returning to normal levels in the New Year.

“When we compare this figure to the December 2014 quarter we see, as was the case throughout 2015, listings are still higher than the long term average.’’

There were 5909 sales for the three months to December down from 9176 in the September 2015 quarter.

“We estimate that once all sales have settled in the coming months the total number of dwelling sales in WA will come in at around 6500 for the quarter.’’

Average selling days in the Perth metro area came down to 59 days in the December quarter.

“This is three days less than in the September 2015 quarter, but still 13 days more than in the December 2014 quarter.

“Additionally, 47 per cent of vendors needed to discount their asking price in order to sell in the December quarter, which is an improvement on the September quarter but higher than for the three months to December 2014.’’