Sales and rents improve in Yanchep and Butler

REIWA data shows house sales and rental activity in Yanchep and Butler increased in March.

SALES and rents increased in Yanchep and Butler during March, according to Real Estate Institute of WA statistics.

Also in March one house sold in Lancelin and there were two sales in both Ledge Point and Seabird.

Monthly sales and leasing activity data prepared by the institute for Yanchep News Online showed there were 16 houses sold in March in Yanchep.

This compared with six houses sold in March last year, nine in December and seven in February this year.

There were 35 properties leased in March in Yanchep compared with 28 in March last year, 32 in December and 24 in February this year.

There were 16 houses sold in Butler in both February and March this year compared with 13 in March last year and nine in December.

In March this year 64 dwellings were leased in Butler in March compared with 47 in March last year, 38 in December and 42 in February this year.

There were five houses sold in Alkimos in both March and December last year compared with seven in both February and March this year.

Thirty-nine dwellings were leased in Alkimos in both February and March compared with 43 in march last year and 29 in December.

In Eglinton on house sold in both March and February this year compared with two houses in March last year and one in December.

Stockland said its new homes in Amberton were considerably more affordable than the average established house in Eglinton.

When REIWA statistics showed Eglinton’s median house price was $450,360 Amberton was offering home and land packages starting at $340,860 for a three-bedroom, two-bathroom home, more than $109,000 below Eglinton’s latest median house price figures.

Stockland WA general manager Col Dutton said first home buyers, families and downsizers were all attracted to the lifestyle on offer at the coastal community.

(The entry prices were current on Wednesday, April 12.)

REIWA president Hayden Groves said both the sales and rental markets in Perth in the three months to March improved with house sales increasing by 30 per cent over the three month period and leasing activity increasing by 24 per cent.

Mr Groves said there were signs suggesting the worst may be over in Perth.

“Home buyers, investors and tenants are clearly taking advantage of favourable conditions to secure their dream home, property investment or rental lease,” he said.

“ data shows that not only did leasing activity in Perth improve by 24 per cent in the three months to March, levels were also up 35 per cent when compared to the same time last year.

“Additionally, all five sub-regions experienced notable hikes in activity levels, with leasing activity in the North West sub-region the standout.

“While the rental market certainly still presents its challenges for landlords with listing levels remaining high, tenants are very active right now.

“I advise landlords to listen to the advice of their property managers when advertising their property for lease.

“The market remains competitive, but provided your rental is priced and presented well, you have a very good chance of securing a tenant.’’

In the residential sales market, data showed house sales activity held up relatively well on an annual basis, adjusting back slightly by one per cent in March 2017 compared to March 2016, while listings for sale declined by three per cent on an annual basis.

“Sales activity in Perth appears to be stabilising.

“We’re not seeing the big shifts in levels that we once were, and in fact, we’re regularly seeing activity levels show signs of improvement which is pleasing.

“Listing levels are also stabilising, with the rate of increase slowing over the last year.’’