{"id":29922,"date":"2021-01-05T17:57:29","date_gmt":"2021-01-05T04:57:29","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=29922"},"modified":"2021-01-05T17:57:29","modified_gmt":"2021-01-05T04:57:29","slug":"real-estate-market-heats-up-in-perth-with-forecast-10-per-cent-jump-in-median-house-price","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/real-estate-market-heats-up-in-perth-with-forecast-10-per-cent-jump-in-median-house-price\/","title":{"rendered":"Real estate market heats up in Perth with forecast 10 per cent jump in median house price"},"content":{"rendered":"<p><strong>PHOTO: Ray White CEO Mark Whiteman says both buyers and sellers can take advantage of the market.<cite class=\"_21SmZ _3_Aqg _1hGzz _1-RZJ P8HGV _16dJg\" data-component=\"Figure__cite\">(ABC News: Amy Johnston)<\/cite><\/strong><\/p>\n<p class=\"_1HzXw\">Perth&#8217;s property market is on the rise as reduced travel increases buyer activity, with expectations the median house price could grow by as much as 10 per cent during 2021.<\/p>\n<section class=\"vB11C _1tnlo _1w6Cw _1pc-9 _2EbnQ\" role=\"contentinfo\" aria-label=\"key points\" data-component=\"KeyPoints\">\n<h2 class=\"_3mduI _2gTdF _1deB8 jwLlj _1O6ck _1GKnS _2o9MN _1-RZJ\" data-component=\"Heading\">Key points:<\/h2>\n<ul class=\"W8pqX\" role=\"list\" data-component=\"List\">\n<li class=\"\" data-component=\"ListItem\">Housing sales jumped 42.5pc last month on December 2019, REIWA says<\/li>\n<li class=\"\" data-component=\"ListItem\">Kelmscott saw the largest increase in its median sale price at 6.2 per cent<\/li>\n<li class=\"\" data-component=\"ListItem\">REIWA expects house prices to jump between 6 and 10pc this year<\/li>\n<\/ul>\n<\/section>\n<p class=\"_1HzXw\">According to data from the Real Estate Institute of Western Australia (REIWA), December 2020 saw a jump of 42.5 per cent in house sales compared to December 2019.<\/p>\n<p class=\"_1HzXw\">REIWA president Damian Collins said reduced travel during December had allowed people to benefit from the favourable real estate market.<\/p>\n<p class=\"_1HzXw\">&#8220;Traditionally December experiences a reduction in the number of house sales due to buyers going away for the festive period,&#8221; he said.<\/p>\n<p class=\"_1HzXw\">&#8220;Yet this year we have seen a significant increase in buyer activity, which suggests that people are taking advantage of the market conditions whilst they are unable to travel.&#8221;<\/p>\n<p class=\"_1HzXw\">Perth&#8217;s average house price remained stable in December, sitting at $480,000, while REIWA data showed 45 per cent of suburbs saw an increase in property value during the month.<\/p>\n<figure id=\"13030948\" class=\"_2w-Eq _1w6Cw _1pc-9 _357jP\" role=\"group\" data-print=\"inline-media\" aria-labelledby=\"dls-id-214032\" data-component=\"Figure\">\n<div class=\"_3L4rN\" data-component=\"IntersectionObserver\">\n<div class=\"lt7xz\" data-component=\"AspectRatioContainer\"><img decoding=\"async\" class=\"_1MKdo _3lrlT lazyload\" data-src=\"https:\/\/www.abc.net.au\/cm\/rimage\/11758492-3x2-xlarge.jpg?v=2\" data-sizes=\"100vw\" alt=\"An aerial shot of the inner-city Perth suburb of Mount Hawthorn\" data-component=\"Image\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" \/><\/div>\n<\/div><figcaption id=\"dls-id-214032\" class=\"_21SmZ _3_Aqg _1hGzz _1-RZJ P8HGV _2FwWh\" data-component=\"Figure__figcaption\"><em><strong>REIWA buyer activity rose significantly in December compared to the same time in 2019.<cite class=\"_21SmZ _3_Aqg _1hGzz _1-RZJ P8HGV _16dJg\" data-component=\"Figure__cite\">(ABC News: Gian De Poloni)<\/cite><\/strong><\/em><\/figcaption><\/figure>\n<p class=\"_1HzXw\">Kelmscott saw the largest increase in its median sales price during December, jumping 6.2 per cent to $375,000.<\/p>\n<p class=\"_1HzXw\">Yokine followed with a 4.8 per cent increase to a median price of $650,000 house price average, while the median price in Wellard rose 4 per cent to $399,500.<\/p>\n<p class=\"_1HzXw\">&#8220;With listings for sale decreasing 16.5 per cent in December, it is only a matter of time before median prices start to increase,&#8221; Mr Collins said.<\/p>\n<h2 class=\"NVRkN _38pgX _1deB8 jwLlj hsTMN _1GKnS _2o9MN _1-RZJ\" data-component=\"Heading\">&#8216;If they don&#8217;t buy, it may well be gone&#8217;<\/h2>\n<p>READ MORE VIA <a href=\"https:\/\/www.abc.net.au\/news\/2021-01-05\/perth-real-estate-market-heats-up-with-increased-buyer-activity\/13030876\">ABC<\/a><\/p>\n<h3 class=\"widget-title\"><span class=\"accent-typo\">MOST POPULAR<\/span><\/h3>\n<ul class=\"widgets-list-layout no-grav\">\n<li><a class=\"bump-view\" title=\"Suspect charged with the murder of beloved real estate agent\" href=\"https:\/\/propertynoise.co.nz\/au\/suspect-charged-with-the-murder-of-beloved-real-estate-agent\/\" 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dollars<\/a><\/div>\n<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>PHOTO: Ray White CEO Mark Whiteman says both buyers and<span class=\"more-link\"><a href=\"https:\/\/propertynoise.co.nz\/au\/real-estate-market-heats-up-in-perth-with-forecast-10-per-cent-jump-in-median-house-price\/\">Read More &rarr;<\/a><\/span><\/p>\n","protected":false},"author":1,"featured_media":29923,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[461747081],"tags":[478105305,478113972,478098539,478107078,478106294,478102611,478113973,478105408,478099379,478107204,478110132,478110135,478100654,478098561,478111473,478107641,478105304],"class_list":["entry","author-data123nz","post-29922","post","type-post","status-publish","format-standard","has-post-thumbnail","category-australian-property-real-estate-news","tag-damian-collins","tag-mark-whiteman","tag-perth","tag-perth-agent","tag-perth-homeowners","tag-perth-house-prices","tag-perth-median-prices","tag-perth-prices","tag-perth-property-market","tag-perth-property-prices","tag-perth-real-estate-agency","tag-perth-real-estate-agents","tag-perth-real-estate-group","tag-ray-white","tag-ray-white-ceo","tag-real-estate-institute-of-western-australia","tag-reiwa"],"yoast_head":"<!-- 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