David Airey, REIWA President said, ‘the media price for both houses and units in Perth while only point prices increase in the regions. Sales were also up and the number of selling days came down.” Last December 2011, REIWA result released that this first indicators of housing recovery and the market are more encouraging. Because of the home-buyers and up-grade buyers who entered the market, there were modest increases in Perth’s median price with the price range of $500,000 to $700,000 and he land price in Perth costing $240,000. These are indications that buyers and sellers are more confident and aggressive to obtain home.
Based on REIWA, smaller unit and apartment market increased by almost 4%, and the selling days have fallen by 4 to 77%. The rental of vacancy rate in Perth has tightened to 2.3% and house rents increased by $20. First home b-buyers remain active in WA market, so it means that market will become stronger and of cause with the influence of mining and resources sector.