David Airey - REIWA

This week REIWA members reported the total number of sales are up to 632 an increase of 1 per cent on the previous week.

Total sales recorded by REIWA member have fallen by 2% to 557 for the week ending 21 July 2015. This fall was due to land and house sales dropping with Units remaining strong.

The financial year finished with sales recording their highest level in the June quarter, with this week’s total activity up 3% to 723, the highest since the pre-Easter surge of 876.

Despite last weekend’s inclement weather, REIWA members reported a 9% increase in sales for the week ending 23 June which may also reflect a small flurry of end of financial year activity.

The big number this week is the impending breakthrough of the 8,000 barrier for property listed for lease. Since the beginning of March when seasonal demand tailed off, rental listings have been rising at an average of 118 per week which compares with the average of 44 per week since the same time last year.

Last week saw a healthy return to sales level seen across May prior to the last long weekend. The 20% increase to 693 puts weekly sales 5% above to the year to date average which now sits at 659.

Dwelling sales took a tumble last week across Perth due to the WA Day long weekend with reported activity very similar to the week of the ANZAC long weekend.

All the action was south of the river last week as overall sales jumped up 7% across Perth.

For a second week, reported sales activity has fallen 8% and now sits marginally below the average for the year to date.

Overall sales eased back 8% last week but still remain 7% above the average since the start of the year.

Reported activity for primarily the first week of May was encouraging with overall sales up 38% for the week to 770, the highest level since late March.

Another long weekend, another dip in sales activity.

The post Easter rebound continued last week with REIWA members reporting a further 11% increase in activity.

The weekly sales volatility continued this week with reported sales bouncing back 23% to 624 with the increase driven by a 28% jump in house sales.

After the big jump in reported activity at the end of March, sales dipped 47% last week due to the Easter break.

Reported sales jumped dramatically this week due to a combination of a general increase in activity ahead of Easter, a drop in listings, plus the end of month reporting deadline that picks up some lagging sales.

There was a small 3% increase in overall sales activity reported last week.

Reported sales activity is showing some volatility with last week’s 26% rebound turning to a 10% fall this week.

There was a healthy 26 per cent rebound in reported sales activity last week which has taken volumes back to mid-February levels.

Not unexpectedly due to the long weekend, there was a 13% fall in reported activity with house and multi-residential sales down 14% and 19% respectively.

There was a further easing in reported sales last week as more stock flowed into the market, with all components contributing to the softening.

After last week’s 9% increase in reported activity, sales have retreated 7% this week back to a similar level reported a fortnight ago.

A 12% increase in house sales reported last week lifted overall activity to its highest level since early July 2014 which is a welcome sign given the market has been on a general downward trend since that time.

There was a welcome rebound this week with reported activity up 25 per cent which takes sales back to their highest level for two months and similar to the beginning of December 2014.

Not surprisingly, sales activity dipped this week due to the long weekend which based on REIWA’s historic data does not happen when Australia Day falls between Tuesday and Thursday.

Sales activity continues to climb after the festive break, but still remains down 13 per cent on the same time last year.

Sales activity in early 2015 is on the rebound since the Christmas-New Year week when total activity dipped to 182 sales.