Three Wanneroo suburbs benefit from seller’s market in September

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Despite a fall in overall home values in September REIWA says market conditions still point towards a seller’s market. File picture: Yanchep News Online

HOMES in Tapping, Clarkson and Butler were among the top 10 fastest to sell in September, according to REIWA.

The median time to sell a house took 15 days in September, which was two days faster than in August.

REIWA president Damian Collins said Perth was still well-below a balanced market which was about 30 to 40 days, with quick selling times and low stock for sale fuelling buyer competition.

“These market conditions still point towards a seller’s market,’’ he said.

The suburbs to record the fastest selling times were Cooloongup (three days), Palmyra (five days), Warnbro (six days), Tapping (six days) and Success (six days).

The other fastest selling suburbs were Clarkson (seven days), Butler (seven days), Nedlands, Darlington and Seville Grove.

CoreLogic’s Perth home value index declined 0.4 per cent in September, but Mr Collins said Perth was better positioned than other Australia jurisdictions, with strong buyer demand and many properties still selling quickly.
Mr Collins said despite the decline in overall home values, REIWA data showed a number of Perth suburbs recorded strong house price growth.

“WA is still in an excellent position for price growth with our strong economy, growing population and limited stock levels.”