TWO Rocks, Perth’s most northern suburb, made the list for the top 10 positive quarterly changes in annual median sales price for the year to June with an increase of 3.4 per cent giving it a median sale price of $430,000.
Sixty-one houses sold in Two Rocks during that 12-month period and the highest sale recorded was $825,000.
The Real Estate Institute of Western Australia annual Property Report data released on August 1 showed during the same time period Yanchep was one of the city’s worst 10 performing suburbs for quarterly change in annual median sales price for the year to June with a fall of 3.3 per cent giving it a median sale price of $440,000.
During the year 151 houses sold in Yanchep – the highest sale in the suburb was $970,000.
Two other City of Wanneroo suburbs – Alkimos and Jindalee – made the bottom 10 list for the year.
Alkimos recorded a median sale price drop of 8.3 per cent to $479,000.
Seventy-seven houses sold during the year and the highest sale for the suburb was $800,000.
During that time period Jindalee’s median sale price fell 7 per cent to $665,000.
The highest recorded sale during the year in which 31 houses sold was $1 million.
In Eglinton with a median sales price to June of $420,000 seven houses sold – the highest price recorded was $521,000.
In Butler with a median sales price of $435,000 and a quarterly fall of 0.9 per cent 297 houses were sold.
The highest sale during the year in Butler was $675,000.
According to the REIWA date houses in Butler during the 12 months to June were on the market for an average of 71 days.
Houses in Two Rocks during the same 12-month period were on the market an average of 122 days with houses in Yanchep an average of 89 days on the market, houses in Jindalee (71 days), Eglinton (39 days) and Alkimos (54 days).
The REIWA data showed Perth’s median house price dropped by $20,000 in the June quarter.
The fall of 3.6 per cent was the biggest drop in the median house price since it fell in the September quarter 2013.
REIWA president David Airey said the high number of listings and slowing rate of population growth was behind the increased competition among sellers.
Mr Airey said it now took an average of 71 days to sell a property, up by three days on the previous quarter.
“The stock of listings has risen significantly over the last six months but appears to have levelled out,’’ he said.
“There were 13,739 properties on the market in the quarter, but this was only up fractionally by 63 on March.
“There were 10,200 sales in the quarter, down by 900 in the previous quarter but more significantly, down by 21.5 per cent in turnover from the same time last year.
“Across the metropolitan area almost 60 per cent of sellers reduced their asking price to seal the deal, and where that happened a discount of around 6 per cent was the average reduction.’’
Mr Airey said the soft market for 2015 he had forewarned of had arrived and sellers must listen to their agents about getting the right price for a quick sale.