Western Australia

Benchmark April18

The regional Western Australia property market saw the number of sales slip 1.8% lower over the twelve months ending November 2017, with a 3.4% rise in residential sales offsetting a 9.5% fall in rural sales activity. Overall, 10,395 regional sales were recorded over the twelve month period. Residential sales comprised 63% of the regional Western Australia market, while rural properties with a land area less than 40Ha accounted for the second largest category (23.5% of all sales). Looking at the value of sales rather than volumes shows a softer profile of the market. The past twelve months saw the total value of regional sales reduce by 11.0%. The drop was confined to the rural sector where the 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 2017 2016 6,508 6,294 335,000 350,000 q–4.3% q–5.4% 2017 2016 2,440 2,657 170,000 179,000 q–5.0% 0.0% 2017 2016 993 1,097 457,500 460,000 q–0.5%  2.2% 2017 2016 383 460 720,000 753,000 q–4.4%  18.7% 2017 2016 71 81 1,444,830 1,300,000  11.1%  5.1% Agriculture/Rural 1,000 Ha+ annual values of sales reduced by 22.4%. The residential sector actually recorded a 2.3% rise in the gross value of sales over the year. The lift in regional residential sales was confined to the broad Outback region of Western Australia where sales activity lifted 17.4% year on year. The remaining regional areas saw a reduction in residential sales activity, with volumes down 0.8% across the Bunbury region and 6.5% lower across the Wheat Belt. The rural sector saw a reduction in transactional activity across each of the three broad regions of regional Western Australia. Volumes were Wheat Belt (–6.2%) Outback (–12.6%) and Bunbury ( –7.6%), respectively. NOV 07 NOV 08 NOV 09 NOV 10 NOV 11 NOV 12 NOV 13 NOV 14 NOV 15 NOV 16 12000 9000 6000 3000 NOV 17 0 0 NOV 07 NOV 08 NOV 09 NOV 10 NOV 11 NOV 12 NOV 13 NOV 14 NOV 15 NOV 16 6500 4875 3250 1625 NOV 17 0 0 NOV 07 NOV 08 NOV 09 NOV 10 NOV 11 NOV 12 NOV 13 NOV 14 NOV 15 NOV 16 1600 1200 800 400 NOV 17 0 0 NOV 07 NOV 08 NOV 09 NOV 10 NOV 11 NOV 12 NOV 13 NOV 14 NOV 15 NOV 16 600 450 300 150 NOV 17 0 0 NOV 07 NOV 08 NOV 09 NOV 10 NOV 11 NOV 12 NOV 13 NOV 14 NOV 15 NOV 16 160 120 80 40 NOV 17 0 0 Western Australia


Benchmark April18
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