Western Australia

LH Benchmark_Nineteenth_Ed

There were 10,405 house and rural property sales settled across regional WA over the twelve months ending March 2018; 2.9% lower than a year ago. The fall in settled sales activity was confined to the rural and agricultural sector where sales were 8.9% lower while residential house sales trended 1.1% higher over the year. Although residential house sales activity trended higher over the year, prices have remained soft. The overall value of residential house sales was down 0.4% over the year, reflective of falling dwelling values across the state. The combination of less activity and soft values contributed to a larger reduction across the rural and agricultural sector, with the gross value of sales declining by 8.2% over the year. Price Trends Gross value of sales – rolling 12 months Residential houses (Less than 4 Ha) 4000 3000 2000 1000 Agriculture/Rural Less than 40 Ha 1500 1125 750 375 Agriculture/Rural 40 Ha to 100 Ha 1200 900 600 300 Agriculture/Rural 100 Ha to 1,000 Ha 800 600 400 200 280 210 140 70 Left axis: Total value of sales $ (millions) Right axis: Number of sales 20 | www.landmarkharcourts.com.au 2018 2017 6,487 6,417 330,000 $342,000 q–3.5% q–6.3% 2018 2017 2,380 2,660 169,000 175,000 q–3.4% q–2.8% 2018 2017 1,038 1,102 480,000 450,000  6.7%  0.0% 2018 2017 417 454 773,000 800,000 q–3.4%  19.9% 2018 2017 83 85 2,030,000 1,415,000  43.5%  11.0% Agriculture/Rural 1,000 Ha+ Across the sub-regions, the only broad area to record a lift in transactional activity was the Outback region where sales activity rose 9.8% to 2,370 over the year. The remaining sub-regions generally showed subdued conditions, with the Bunbury region recording the weakest reading with residential house sales down 4.8% and rural property sales down 13.6% over the year. The Bunbury region was also the largest market for regional house sales, recording 2,438 settlements over the year. The Wheat Belt recorded the highest number of rural and agricultural property sales over the year at 1,652, which was 5.5% lower than a year ago. MAR 08 MAR 09 MAR 10 MAR 11 MAR 12 MAR 13 MAR 14 MAR 15 MAR 16 MAR 17 12000 9000 6000 3000 MAR 18 0 0 MAR 08 MAR 09 MAR 10 MAR 11 MAR 12 MAR 13 MAR 14 MAR 15 MAR 16 MAR 17 6500 4875 3250 1625 MAR 18 0 0 MAR 08 MAR 09 MAR 10 MAR 11 MAR 12 MAR 13 MAR 14 MAR 15 MAR 16 MAR 17 1600 1200 800 400 MAR 18 0 0 MAR 08 MAR 09 MAR 10 MAR 11 MAR 12 MAR 13 MAR 14 MAR 15 MAR 16 MAR 17 600 450 300 150 MAR 18 0 0 MAR 08 MAR 09 MAR 10 MAR 11 MAR 12 MAR 13 MAR 14 MAR 15 MAR 16 MAR 17 160 120 80 40 MAR 18 0 0 Western Australia


LH Benchmark_Nineteenth_Ed
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