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The Perth property market is booming, and the time for sale has been greatly reduced! The fastest selling city has been revealed

author:Australian financial news

The Sydney Morning Herald reported on July 2 that homes in Perth are selling at a record pace, with the median time for sale of detached homes in June being just eight days, three days shorter than last year.

The latest figures from the Real Estate Institute of Western Australia show that the median time for units for sale is 11 days, nine days faster than last year.

6月份销售最快的城区包括Camillo和Thornlie,平均仅需4天。 其他紧随其后的是 Mandurah、Ballajura、Eglinton、Huntingdale、Leeming、Queens Park、Wanneroo和Wellard,平均仅需5天。

Real Estate Association of WA chief executive officer Cath Hart said the housing market remained hot despite the slowdown in the rental market. "There is no indication that the current situation will change anytime soon," she noted. ”

Hart advises that given the high level of competition in the market, potential buyers should get approved for a loan before entering the market in order to be in a good position when bidding.

The Perth property market is booming, and the time for sale has been greatly reduced! The fastest selling city has been revealed
The Perth property market is booming, and the time for sale has been greatly reduced! The fastest selling city has been revealed
The Perth property market is booming, and the time for sale has been greatly reduced! The fastest selling city has been revealed

Perth Million Dollar Club City (Credit: Sydney Morning Herald)

She said that the current market conditions require buyers to be patient and persevering. "While finding the right home may go through many failures, it will eventually succeed."

For buyers who have repeatedly failed to buy a home, Hart recommends talking to the agent to understand the offer the seller has chosen. While price is one factor, some sellers may be bullish on offers that can extend the settlement period or leaseback period, or cash offers As of the end of June, Perth had 3,265 units actively on sale, slightly below May levels and down nearly 40% on a year earlier. While there is widespread talk of a housing shortage in the market, the data shows that the number of properties on the market in the first half of 2024 has actually increased year-on-year, only for these properties to be sold almost immediately.

The median sale price of a detached home hit a new high of $660,000, up 1.5 per cent from $650,000 in May and up 17.9 per cent on a year earlier.

The median sale price of units also rose 1.3% this month to $440,500, up 10% year-on-year.

Ray White Group高级数据分析师Atom Go Tian表示,随着西澳房价继续上涨,会 有更多城区加入百万澳元俱乐部,包括Yokine、Coolbinia、Menora和Serpentine- Jarrahdale。

As of May 2024, there are 857 urban areas in Australia with an average house price of at least $1 million.

Atom Go Tian also noted: "Among major Australian cities, Perth has the third highest number of multi-million dollar urban areas, with 46. This compares to 300 in Sydney, 169 in Melbourne, 110 in Brisbane and 70 in Canberra. ”

He added that that number had already doubled from the pre-pandemic 21 suburbs, with a further 16 districts joining the Million Dollar Club in the last 12 months.