Annual Market Summary City of South Perth 2017 Suburb Snapshot
ANNUAL SUMMARY - CITY OF SOUTH PERTH
2017 Overview One of the most interesting facts I heard in late 2017 was our REIWA President, Mr Hayden Groves, say “The long term average number of sales in WA was 62,000 pa. Over the last 2 years the transaction numbers have been 31,000.� We knew numbers were down but not to that extent. This was a result of very low net migration to WA and low business and personal confidence. It was good to see, in the WA budget, the below graph showing confidence is on the improve. Also with the number of large resource projects underway, there is a shortage of 1,600 jobs for resource workers, so migration into WA will improve. We are seeing buyers from Sydney look now at WA real estate. The worst is now behind us.
The Year Ahead 2018 will show an improvement in both sales and property management. Rental vacancy rates are returning to normal levels 3-4% (down from 7-10% a year ago). Rents will start to improve, as demand for scarcer properties push rents, back towards where they were. With an increase in rents and potential for capital growth, the residential investor will return to the market. This in turn will fuel demand and push up prices. The 2018 year ahead will be a much better year for sellers, investors, buyers and real estate agents.
Alan Bourke Principal / Auctioneer 16/01/18
2017 MARKET SNAPSHOT
Volumes
2013 2014 2015 2016 2017
COMO Houses Units Land
180 159 126 116 154 280 261 201 152 123 16 11 16 1 9
SOUTH PERTH Houses Units
107 106 93 83 92 301 242 201 170 178
KENSINGTON Houses
70 76 46 53 56
MANNING Houses
84 67 54 56 54
SALTER POINT Houses
34 33 42 37 36
RIVERVALE Houses
190 131 97 97 110
TOTAL
1075 964 788 664 702
Median Prices
2013 2014 2015 2016 2017
% Change 12 Months
COMO Houses Unit Land
870 891 895 837.5 730.5 -12.8% 500 501 510 493 475 -3.7% 650 645 642.5 550 595 8.1%
SOUTH PERTH Houses Unit
1,150 1,155 1,250 1,225 1,150 -6.1% 550 605 559 542.5 574 4.8%
KENSINGTON Houses
864.5 880 835 862 750 -13.1%
MANNING Houses
767.5
825 740.45
SALTER POINT Houses
1,100
1,150 1,132.5 1.,045
747 809.5 1,125
8.4% 7.7%
* All data here sourced REIWA 2017
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ANNUAL SUMMARY - CITY OF SOUTH PERTH
South Perth - House Statistics No. of Sales
Median long term average
Average No. of Sales = 2017
16/01/18
=
Median
Change
$ 923,666
119.5 23% down on long term average
Lowest
Highest
2017 MARKET SNAPSHOT
South Perth - Houses
Average No. of Sales 119 23%
PAGE 5 OF 24
ANNUAL SUMMARY - CITY OF SOUTH PERTH
South Perth - Unit Statistics No. of Sales
Median long term average
Average No. of Sales = 2017
16/01/18
=
Median
Change
$ 394,000
323 45% down on long term average
Lowest
Highest
2017 MARKET SNAPSHOT
South Perth - Units
Average No. of Sales 323 45%
PAGE 7 OF 24
ANNUAL SUMMARY - CITY OF SOUTH PERTH
Como - House Statistics No. of Sales
Median
Change
Median long term average
$ 658,986
Average No. of Sales = 2017 =
168 9% down on long term average
Como - Price Range Segmentation
16/01/18
Lowest
Highest
2017 MARKET SNAPSHOT
Como - Houses
Average No. of Sales 168 9%
PAGE 9 OF 24
ANNUAL SUMMARY - CITY OF SOUTH PERTH
Como - Unit Statistics No. of Sales
Median long term average
Average No. of Sales = 2017
16/01/18
=
Median
Change
$ 378,625
304 60% down on long term average
Lowest
Highest
2017 MARKET SNAPSHOT
Como - Units
Average No. of Sales 304
60%
PAGE 11 OF 24
ANNUAL SUMMARY - CITY OF SOUTH PERTH
Kensington - House Statistics No. of Sales
Median long term average
Average No. of Sales = 2017
16/01/18
Median
=
Change
$ 635,861
75 25% down on long term average
Lowest
Highest
2017 MARKET SNAPSHOT
Kensington - Houses
Average No. of Sales 75 25%
Kensington - Price Range Segmentation
PAGE 13 OF 24
ANNUAL SUMMARY - CITY OF SOUTH PERTH
Kensington - Unit Statistics No. of Sales
Median long term average
Average No. of Sales = 2017
16/01/18
Median
=
Change
$ 373,930
19 52% down on long term average
Lowest
Highest
2017 MARKET SNAPSHOT
Kensington - Units
Average No. of Sales 19
52%
Kensington - Unit Price Range Segmentation
PAGE 15 OF 24
ANNUAL SUMMARY - CITY OF SOUTH PERTH
Manning - House Statistics No. of Sales
Median long term average
Average No. of Sales = 2017
16/01/18
Median
=
Change
$ 581,991
88 39% down on long term average
Lowest
Highest
2017 MARKET SNAPSHOT
Manning - Houses
Average No. of Sales 88
39%
Manning - Price Range Segmentation
PAGE 17 OF 24
ANNUAL SUMMARY - CITY OF SOUTH PERTH
Rivervale - House Statistics No. of Sales
Median long term average
Average No. of Sales = 2017
16/01/18
=
Median
Change
$ 427,138
166 34% down on long term average
Lowest
Highest
2017 MARKET SNAPSHOT
Rivervale - Houses
Average No. of Sales 166
34%
Rivervale - Price Range Segmentation
PAGE 19 OF 24
ANNUAL SUMMARY - CITY OF SOUTH PERTH
Salter Point - House Statistics No. of Sales
Median long term average
Average No. of Sales = 2017
16/01/18
Median
=
Change
$ 845,305
44 8.2% down on long term average
Lowest
Highest
2017 MARKET SNAPSHOT
Salter Point - Houses
Average No. of Sales 44 8.2%
Salter Point - Price Range Segmentation
PAGE 21 OF 24
ANNUAL SUMMARY - CITY OF SOUTH PERTH
Victoria Park - House Statistics No. of Sales
Median long term average
Average No. of Sales = 2017 =
Median
Change
Lowest
Highest
$487,000
114.5 29% down on long term average
Average No. of Sales 114.5 29%
16/01/18
2017 MARKET SNAPSHOT
Victoria Park - Unit Statistics No. of Sales
Median long term average
Average No. of Sales = 2017 =
Median
Change
Lowest
Highest
$312,758
191 51% down on long term average
Average No. of Sales 191
51%
PAGE 23 OF 24
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