Perth real estate: Property sales hit 12-year high

Perth property sales have hit levels not seen since 2010 on the back of strong buyer demand.

In April, the median selling time for homes was 13 days, while the volume of listings were one per cent higher than March and 11 per cent lower than April last year.

Mack Hall Sales Real Estate in association with Knight Frank Executive Greg Williams said a high sales volume and low property listings would result in a continuation of supply shortages, which had driven the market since the end of 2020.

“Low supply and stable demand means happy sellers,” he said.

“At present, property is a much more liquid asset than it normally is, and buyers therefore need to make decisions quickly to avoid missing out.”

REIWA President Damian Collins said the market was about demand and supply.

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