Roleystone Real Estate

02 www.roleystonerealestate.com.au From the Directors Desk Sam Saffioti Principal/ Licensee 6a Barbara Road, Roleystone SOLD IN 4 DAYS! August 2020. The Market at a Glance... The Perth Real Estate market and in particular the Hills precinct is running ‘hot’ with Buyer activity, unprecedented and not seen since the extraordinary market of 2007. Here at RRE, we have seen a record number of properties transact with a property SOLD every 4 days. June reiwa.com data shows the strongest month for sale in Perth since 2015, with transactions increasing 55.1 per cent compared to May and 45 per cent higher than June 2019. REIWA President Damian Collins said it’s clear the recent Federal and State Government building bonus grants have boosted transactions last month. “REIWA.COM data shows that there were in Perth 3,990 transactions for June, with 2,519 of these dwellings (up 15 per cent) and 1,471 land sales (up 289 per cent),” Mr Collins said. “The large spike that we have seen in land transactions can be attributed to people fearing that they may miss out on these grants. There is a real possibility that we will run out of titled and completed blocks in the coming months.” The reiwa.com data further revealed the median house price remained unchanged for June, which is sitting at $478,000, however the median land sale price increased 5 per cent compared to this time last year and is now sitting at $250,000. With listings for sale down nine per cent to only 10,310 and sales activity increasing, it is fast becoming a sellers’ market. While monthly changes in prices can be volatile, rising sales and dropping stock levels are usually a precursor to rising prices. “During the initial COVID-19 period there was some downside price risk to Perth property prices, however it now appears that Perth prices will generally hold firm and could even possibly rise. This is of course dependent on the economy opening up and remaining open.” Source – REIWA President – Damian Collins June 2020 Reveals Biggest Month of Sales in Perth Since 2015!

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