June Quarter 2012 market update. Quarterly review of the WA residential property market

Transcription

1 June Quarter 212 market update Quarterly review of the WA residential property market

2 Contents REIWA MARKET UPDATE WA Real Estate Indicators 3 Perth housing and land market 4 Perth Overview 6 Perth Central Sub-Region 12 Perth North-West Sub-Region 2 Perth North East Sub-Region 24 Perth South East Sub-Region 28 Perth South West Sub-Region 32 Perth Rental Report 36 Dwellilng Overview 38 Land Overview 39 Regional WA Real Estate Report 4 Lifestyle Living Summary 49 The Chartist 52 First Home Buyer Quarterly Update 54 Consumer Confidence Quarterly Update 55 Statistical Concepts and House Measurement 55 Centre Spread Lift-out colour maps Perth House s Median prices of established house sales for 12 months to June 212 Regional House s Median prices of established house sales (land less than 1Ha) in major regional centres for 12 months to June 212 About the REIWA Market Update The Market Update is a quarterly review of the property market in Western Australia and is published by the Real Estate Institute of WA. While REIWA has full confidence in the data contained in this document, no warranty, guarantee or holding out, either expressed or implied is given and persons or companies who pursue real estate investment or otherwise and act on the basis of this data do so at their own risk. Issue 85 REIWA 212 This publication is copyright. Only REIWA members may copy or reproduce any part of this publication without authorisation. Editor & analyst Stewart Darby Sonia Grewal Cover photo Aperture 22 Production & Design Jan Burt Printing Printforce Contact REIWA PO Box 899, Subiaco East 68 Telephone (8) Facsimile (8) Subscription marketupdate@reiwa.com.au In tune. Banking that understands the real estate business. In Westpac, you have a bank with the tools to keep your business in the best of health. As Australia s first bank, we ve been backing Australian businesses for almost 2 years. We re industry experts. Our Real Estate Specialists work closely within the industry, they re familiar with the challenges and opportunities facing the sector and know what works. And what doesn t. We re Focused. On delivering business strategies and solutions tailored to the real estate sector including: A specific real estate rent roll policy to help you invest in your business. Trust accounts to help you meet your regulatory obligations. An easy way to collect rents and make payments to your landlords and other suppliers. Personal banking including self managed super fund lending and commercial and residential property financing. We re local. Your Westpac Real Estate Specialist is a local, single point of contact who knows your industry and will connect you with the expert team and resources available at your local Business Banking Centre. To find out how we can help; Call Jason Roach, National Industry Leader, Real Estate on realestate@westpac.com.au Visit Your local Westpac Branch and speak to the Bank Manager Things you should know: This information is current as at September 29. Westpac Banking Corporation ABN (4/1) 2 MARKET UPDATE JUNE QUARTER 212

3 REIWA Market update WA Real Estate Indicators First Home Buyers Lead Market Recovery Strengthening first home buyer activity in both the new and established markets, increased investor interest and an upswing in land sales are further signs that the WA residential sector is returning to a more normal market. First home buyers are leading the upswing with FHOG paid for both the new and established housing sectors returning to long term average levels in the June quarter. Grants paid to the established first home buyers have experienced their strongest period of non-stimulatory increase since the FHOG was introduced in July 2. Overall turnover in WA is estimated to have only gone up marginally due to the continuing rise in turnover in Perth whilst the recent increase in activity in Regional WA fell away during the June quarter. However the steady decline in listings in both Perth and many of the Regional markets is a positive signs of a more balanced markets emerging. Perth s listings fell below the 12, equilibrium since the end of the June quarter. Some of this decline is attributed to the continuing strength of first home buyers who are takers of stock from the market and a lack of stock replenishment by vendors who are waiting and watching market signals. At this stage despite falls in listings, there is little evidence of any price pressures across WA. Western Australia Real ESTATE InDICATors - JUNE QUARTER 212 Rental markets remain the critical pressure point in both Perth and across a number of regional centres as the strong inflow of both overseas and interstate migrants look to the rental sector to meet their short term housing needs. Improving yields are attracting increased investor activity. As rents particularly in Perth move back into double digit growth, the housing affordability equation is swinging back to home purchase. This is being facilitated by stable dwelling prices, a strong local economy supporting low unemployment which is under-pinning wages growth and a steady interest rate outlook. On the new housing sector front, a number of signs indicate a positive outlook for after the industry has experienced a shock from a collapse in building approvals in the June quarter due to the introduction of the new Building Act. Putting aside the disappointing implementation of the new Act, a 2% rise in applications for new housing FHOG in the June quarter are expected to see an increase in new housing activity in the second half of 212. A solid 25% increase in land sales in the June quarter also bodes well for the new housing outlook in 213 as prospective home builders secure land for their future dwelling. June Qtr 212 Preliminary March Qtr 212 Revised % change from previous quarter % change from previous year Median sale price 1 Houses, Perth $475, $475,.% -1.% Houses, Regional WA $36, $375, -4.% -4.% Units/apartments, Perth $42,5 $47,25-1.2% -1.6% Units/apartments, Regional WA $324,5 $335, -3.1% -8.3% All Dwellings, Perth $457, $465, -1.7% -1.7% All Dwellings, Regional WA $37, $371, -.3% -.5% Land, Perth $25, $245, 2.% 6.4% Land, Regional WA $168, $165, 1.8% -4.% Buyer type 2 (% of all buyers in WA) First home buyer 27% 25% +2% pts +2% pts Trade-up Buyers 58% 63% -5% pts -7% pts Investor 15% 12% +3% pts +5% pts 1 Houses, WA 9,8 9,7 1.% 21.% Units/apartments, WA 1,9 1,9.% 18.8% Total dwellings WA 11,6 1,3 12.6% 17.% Land, WA 4, 3,1 29.% 29.% Average selling days residential 73 Days 79 Days - 6 days - 7 days property, Perth to listings ratio, Perth 95.5% 72.% 23.5% 4.5% Properties for sale (end of qtr), Perth 12,147 14,3-15.1% -3.3% Rental Market 3 Vacancy rate, Perth 1.9% 1.8%.1% -1.5% Median weekly rent $43 $42 2.4% 13.2% Construction 4 Building approvals, all dwellings WA 3,815 4,8-2.5% -24.3% Finance 5 Home loan approvals, WA 2,558 19, % 14.9% (includes refinancing) Interest Rates 6 (at quarters end) Official Cash Rate 3.5% 3.75% -.25% pts -1.25% pts Standard Variable Bank Home Loan Rate 7.1% 7.4% -.3% pts -.7% pts Preliminary median house and unit prices and estimated sales volume for current quarter based on a dataset of approximately 7-75% of transactions for the quarter. Median house & land prices for sales less than 1 Ha. Land sales estimates based on approximately 5% of expected transactions for the quarter. Figures are therefore subject to revision. 1 Median sales prices are derived from Landgate sales information & includes sales on lots less than 1 Ha. Dwelling for current quarter based on assumption that analysis conducted on 7% sample of data. Land for current & past quarters based on assumption that only 5% of sales have settled. Due to preselling & settlement lags, - final Land figures not available for up to 12 months. 2 Buyer type information, average selling time and sales to listing ration taken from REIWA.COM & Office of State Revenue. 3 Rental market data from REIWA.COM and member surveys. 4 Building approvals data from the Australian Bureau of Statistics. 5 Finance approvals data from the Australian Bureau of Statistics. 6 Interest rate data from Reserve Bank. 7 CPI data from Australian Bureau of Statistics. Consumer Index 7 Perth % 1.1% Weighted Average - Eight Capital Cities % 1.2% JUNE QUARTER 212 MARKET UPDATE 3

4 OVERVIEW perth region Housing Market Perth Housing and Land Market Perth Region Preliminary data suggests there has been a further PERTH METRO REGION 3% rise in house sales in the June quarter as (C) $55, 1, the market inches it way back to the long term FHOG BOOST $525, 9, average level. Presently turnover is some 5% 15 Year Ave below the average. In annual terms, projected $5, 8, sales increased by 18% in compared with $475, 7, but are still some 14% below the 15 year $45, 6, average annual level. $425, 5, Perth s outer sub-markets have increased their $4, 4, share of the increasing market activity marginally in HOUSE SALES due to increasing first home buyer activity $375, HOUSE MEDIAN 3, focused on more affordable market sectors. Some $35, 2, 6% of house sales in have occurred in 3 June 27 3 June 28 3 June 29 3 June 21 3 June June 212 the Outer Sub-Regions whilst the balance is split 1:3 between the Inner and Middle Sub-Regions, with the former reflecting soft upper end activity. The reported preliminary median price for the June quarter is steady with the revised March quarter figure of $475,. Initial projections based on reiwa.com data suggest the June quarter median will reach $48, which is on par with the June quarter in 211. However at the time of writing with additional data both the March and June quarter medians had risen to $477, and $479, respectively. Of the sub-regions, only the North West (2.1%) recorded an increase in its overall median and this was not consistent across the subregion with both the coastal Joondalup North (-1.%) and Wanneroo North West (-2.6%) showing preliminary falls. The remaining outer sub-regions, whilst recording falls masks some positive sub-market increases in Mundaring and Serpentine-Jarrahdale and no median movements in a number of other outer sub-markets, namely; Armadale, Kalamunda and Rockingham. Other than Fremantle (4.7%) and Canning (no change), all other Central sub-markets were initially showing a fall in their median prices, reversing much of the positive movement in the March quarter. However with additional data, a number of the falls have moderated. The overall annual market median for the Year to June ($47,) is unchanged from the Year to March whilst the annual change compared with the year to June 211 is down 3.1%. With annual median sitting at $47,, the 5 year average annual growth rate has retreated further and is now just.7% p.a. Multi-residential Dwelling Market Multi-residential sales are up an estimated 17% on June quarter 211, as turnover continues to increase, rising an estimated 4% for the June quarter. However, due to weak investor activity, the latest quarterly figure is still down 22% on the long term average. From an annual perspective, sales are estimated to have risen 6% in despite the September quarter being the lowest since This dented the figures and put the total some 3% below the 15 year annual average. The increase in activity in the June quarter was not across the board with indications that the City of Perth and other near city markets of Vincent and Western Suburbs experiencing a decline in sales. Other mid to larger Central markets including South Perth-Victoria Park, Stirling East and West, Melville and Bayswater-Bassendean all had an upturn in sales. The preliminary multi-residential median price for the June quarter is down 1.2% to $42,5 from a revised March quarter figure of $47,25. Additional data at the time of writing has lifted these figures to $46,5 and $49, PERTH METRO REGION (C) respectively. The sub-regional summary (page $45, 3, 8) which highlights the dominance sales in the FHOG BOOST Central Sub-Region also indicates a number of the sub-markets contributed to the fall in the overall market median. The annual multi-residential median for the Year to June ($4,) also remains unchanged from the Year to March whilst the annual change $4, $35, $3, $25, 15 Year Ave 2,5 2, 1,5 1, is down 2.4%. Based on the latest annual MULTI-RES SALES $2, median, the 5 year average annual growth rate MULTI-RES MEDIAN 5 is 1.6% p.a. $15, Jun-7 Jun-8 Jun-9 Jun-1 Jun-11 Jun-12 4 MARKET UPDATE JUNE QUARTER 212

5 Perth Region Perth Housing and Land Market Land Pages 5, 8 & PERTH METRO REGION (C) Both preliminary Landgate and reiwa.com data $3, 4,5 REIWA (C) along with feedback from developers indicate FHOG BOOST 4, there was a 25% surge in land sales in the $25, 3,5 June quarter. This would take land sales back to $2, 3, just below the 15 year quarterly volume and the 2,5 highest level of activity since June 21. When the $15, projected sales settle over the coming months, it 2, is estimated that annual sales activity is up 1% $1, 1,5 for the and despite still being some 15% 1, $5, below the 15 year annual average. This is a very 5 encouraging signs for an upturn in building activity $ in 213 and beyond. The preliminary data indicates Jun-7 Jun-8 Jun-9 Jun-1 Jun-11 Jun-12 there was an increase in activity across all subregions including the Central area. PRELIM LAND SALES UPDATED LAND SALES PRELIM. MEDIAN REVISED MEDIAN The preliminary median land price for the June quarter is a lot more stable than recent quarters where the initial figure has fallen back 6-8% as more settled sales data is received. The initial June quarter median is $25,, up marginally on the revised $245, for the March quarter. This is an increase of some 6% on the June quarter 211 figure with the annual median for the Year to June 212 stable at $24,, the same as the Year to June 211. OVERVIEW perth region Listing Stock and Selling Days Listings continued their downward trend across the June quarter as the market steadily recovers, falling 15% for the quarter to 12,147, just above the market equilibrium. The end of June quarter figure is down some 3% on June 211 just after listings reached a peak in the current cycle of 18,2 in April 211. Increasing first home buyer activity which removes stock from the market along with the surge in land sales are the major contributors to the fall. Listings continued to fall across July and by mid August at the time of writing were at 1,8. AVERAGE SELLING DAYS PERTH METRO REGION FHOG BOOST Source: reiwa.com (C) Listings - PMR Ave Selling Days The Listings to Dwelling Stock ratio based on the revised dwelling stock from the 211 Census and Jun-7 Jun-8 Jun-9 Jun-1 Jun-11 Jun-12 escalated to June 212 was 1.4% with all subregions now below 2.% including the South West which has fallen to 1.8% with a notable fall in listings in the Rockingham sub-market. The North West continues to have the lowest ratio at 1.2% despite having the Wanneroo North West (2.1%) sub-market having one of the highest ratios in Perth but this is moderated by the Joondalup South (.7%) submarket with the lowest in Perth. Average selling days have fallen to 73 days with the increased turnover, down 6 days from 79 in the March quarter. A number of the sub-markets with prices at or below the overall market median, particularly in Perth s South East Corridor all experienced a fall of 1 to 12 days as market activity strengthened. A mix of sub-markets at either end of the price spectrum continue to have average selling days above the overall market whilst Joondalup South (57 days) and the near city Vincent-Stirling sub-market (5 days) with their tight listings ratios were well below the market average. 2, 18, 16, 14, 12, 1, 8, 6, 4, 2, LISTINGS Seller Sentiment All measures of seller sentiment continue to show improvement. The proportion of vendors discounting (61%) has now fallen to its lowest level in two years and is down 12 percentage points on the June quarter 211. However, for those discounting, the fall in discounting in the June quarter was negligible, down just.1% to 6.3%. This is still an improvement of some 1.2 percentage points on June 211. In terms of overall market discount, this continues to show a healthy decline due to an increase in the proportion of vendors either achieving or exceeding their price. The latest overall market discount is now 3.%, down from 3.4% for the March quarter and 5.1% in the June quarter 211. VENDORS DISCOUNTING (%) PERTH METROPOLITAN REGION Source: reiwa.com(c) Vendors Discounting Overall Market Discount 8 8 Average Discount FHOG 2 5 BOOST Jun-7 Dec-7 Jun-8 Dec-8 Jun-9 Dec-9 Jun-1 Dec-1 Jun-11 Dec-11 Jun-12 DISCOUNT (%) JUNE QUARTER 212 MARKET UPDATE 5

6 OVERVIEW perth region Perth REGIONAL Overview June Qtr 212 CENTRAL SUB-REGION Perth Overview Perth Region Perth s Central Sub-Region comprises of 13 local government areas with an estimated resident population (ERP) of 782, or 45% of Perth s population as at June 211. The Sub-Region contains an estimated 313, as at June which represents some 48% of Perth s total dwellings stock. A breakdown of the dwelling stock will be provided in a subsequent edition once details of the unoccupied are known. Certainly what is known is that the majority (78%) of Perth s occupied multi-residential dwellings were located in the Central Sub-Region according to the 211 Census. In , the Central Sub-Region represents around 4% of Perth s house sales which has been progressively declining from a high of 49% in as the city expands into the corridors or sub-regions. More significantly, 85% of Perth multiresidential sales occur in the Central Sub-Region. As is evident in the subsequent analysis and accompanying graphics, the Central Sub-region can be further broken down into the Inner and Middle Sectors which display quite different market characteristics that are masked by Sub-Regional and Perth-wide data. The Inner Sector has just 1% of Perth s house sales and nearly 5% of all multi-residential sales but in aggregate terms have very similar sales volumes. By contrast, the Middle Sector has 3% of Perth s house sales and 35% of the multi-residential activity. Possibly the most striking feature on the breakdown of data into the sectors is the median price trends in the multi-residential markets with the Inner Sector consistently above the overall market whilst the Middle Sector median tracks below the overall market. NORTH WEST SUB-REGION Perth s North West Sub-Region is the largest outer sub-region with an ERP of 322, or 18% of Perth s population as at June 211. The Sub-Region comprises of just two local authorities - the Cities of Joondalup and Wanneroo with the latter contributing to the majority of the Sub-Region s 5 year average annual population growth rate of 3.3%. Wanneroo s population grew at a rate of 6.7% p.a. whilst Joondalup was just.5% p.a., reflecting its maturing nature and limited new growth opportunities. The 211 Census recorded 11,75 dwellings represents some 17% of Perth s total dwellings stock. In terms of real estate activity, the North West Sub-Region has the largest share of the outer markets with an estimated 2-21% of Perth s house sales in It also has just 5% of Perth s multi-residential sales, marginally behind the South West Sub-Region. The other prominent feature of the North West Sub-Region is the way in which it replicates the overall Perth housing market in terms of movements in the median price but has a slightly tighter market spread with a higher lower quartile and lower upper quartile. NORTH EAST SUB-REGION The North East Sub-Region comprises of the Kalamunda, Mundaring and Swan local authorities with a combined ERP of 29, or 12% of Perth s population at June 211. The Sub-Region s population has been growing at a rate of 2.4% p.a., which is below the overall metropolitan figure of 2.8% for the past five years. The City of Swan (3.2% p.a.) dominated growth in the Sub-Region. In terms of dwelling stock, the 211 Census recorded 73, dwellings which represent 11% of the metropolitan dwelling stock. Real estate activity in was in line with proportion of dwelling stock with the sub-region accounting for 11% of house sales but just 3% of multi-residential sales. The sub-region offers a range of affordable suburbs below the overall market median and lower quartile along with lifestyle opportunities. The sub-region accounted for 44% of Perth s lifestyle (>1Ha) sales in SOUTH EAST SUB-REGION Despite the South East Sub-Region being the smallest outer sub-region on a population basis with an ERP of 196, or 11% of Perth s population as at June 211, it has been growing at a rate of 3.9% p.a. for the past five years with each of the local authorities; Gosnells (3.2% p.a.), Armadale (4.4% p.a.) and Serpentine-Jarrahdale (6.7% p.a.) all contributing to the growth. Current sub-region dwelling estimates for June 211 are 68,6 or 11% of the total metropolitan dwelling stock. House sales in the South East increased its share to 13% of total metropolitan sales but just 2% of multi-residential turnover. The South East was also responsible for 32% of the lifestyle sales in The South East is also Perth s most affordable sub-region with the lowest median and lower quartile prices. SOUTH WEST SUB-REGION The South West has been the fastest growing sub-region over the past five years, achieving a rate of 4.3% p.a. which has seen the ERP rise to 235, or 13% of Perth s population at June 211. Each local authority; Cockburn (4.% p.a.), Kwinana (4.9% p.a.) and Rockingham (4.5% p.a.) have all exceeded the overall metropolitan growth rate (2.8% p.a.) over the same period. Strong building activity has seen the estimated housing stock rise to 85, dwellings which represents 13% of Perth s dwelling stock. Stronger sales activity accompanying both the population growth and building activity has also resulted in the South West increasing its share of Perth s house sales to 16% in It also accounted for an estimated 7% of the city s multiresidential turnover. Despite being Perth s second most affordable sub-region, this masks a number of high end sales in a number of coastal suburbs. 6 MARKET UPDATE JUNE QUARTER 212

7 Perth Region Perth Overview sub-regional ANALYSIS PERTH RESIDENTIAL MARKET YEAR TO june 212 ANNUAL SALES, MEDIAN & QUARTILE PRICES OVERVIEW perth region NORTH WEST House 5,8 Multi-Res 31 Land 2,4 Upper Quartile $58k $435k $31k Median $47k $37k $237k Lower Quartile $395k $31k $184k NORTH EAST House 3,1 Multi-Res 17 Land 15 Upper Quartile $499k $395k $263k Median $415k $318k $235k Lower Quartile $356k $278k $215k CENTRAL House 11,2 Multi-Res 5,1 Land 1,2 Upper Quartile $83k $549k $55k Median $58k $419k $385k Lower Quartile $447k $33k $28k PERTH METRO House 27,9 Multi-Res 6,1 Land 9, Upper Quartile $62k $52k $38k Median $47k $4k $24k Lower Quartile $377k $315k $19k SOUTH WEST House 4,3 Multi-Res 4 Land 2,3 Upper Quartile $48k $415k $285k Median $4k $326k $29k Lower Quartile $335k $243k $182k SOUTH EAST House 3,5 Multi-Res 12 Land 1,6 Upper Quartile $49k $35k $267k Median $38k $271k $225k Lower Quartile $31k $212k $174k Data is for settled and pending sales data for the Year to June 212 as at 2 July 212 and may vary from other tables in this publication. The Upper Quartile is the value of the bottom of the top 25% of the market - 25% of sales occurred above this price The Median is the middle value of all sales placed in ascending order fom the cheapest to the most expensive. The Lower Quartile is the value of the top of the bottom 25% of the market - 25% of sales occurred below this price 5% of sales fall within the values of the Upper and Lower Quartiles JUNE QUARTER 212 MARKET UPDATE 7

8 OVERVIEW perth region Central (Inner and Middle) Bassendean-Bayswater 1 Belmont 2 Canning 3 Fremantle 4 Melville 5 Perth City 6 South Perth-Victoria Park 7 Stirling East 8 Stirling West 9 Vincent-Stirling SE 1 Western Suburbs 11 North West Joondalup North 12 Joondalup South 13 Wanneroo North East 14 Wanneroo North West 15 Wanneroo South 16 North East Kalamunda 17 Mundaring 18 Swan 19 South East Armadale 2 Gosnells 21 Serpentine 22 South West Cockburn 23 Kwinana 24 Rockingham 25 Perth Overview Perth Region Perth Sub-regional Summary June Quarter 212 Perth Sub-regional Areas Lower Quartile HOUSES UNITS LAND % Qtly % Qtly Median Upper Lower Median Upper Lower Median (p) Quartile Quartile (p) Quartile Quartile (p) (p) (p) Source : Landgate/REIWA Central Sub-Region 1,997 $44, $575, $775, -1.9% 993 $33, $42, $542, -2.3% 214 $31, $4, $578, 9.3% Bassendean/Bayswater 235 $42, $485, $55, -3.% 72 $243, $332, $44, -.9% 34 $23, $38,75 $345, 8.3% Belmont 112 $385, $459, $51, -3.1% 26 $326,5 $37, $458, -5.1% 12 $23, $35, $38, 2.1% Canning 233 $4, $47, $572,5.% 3 $332, $37, $44, 2.9% 19 $261, $266, $37,5 1.9% Fremantle 81 $528,5 $67, $86, 4.7% 49 $426,25 $55, $74, 5.8% 17 $28, $349, $432,5-13.8% Melville 246 $559, $65, $835, -8.5% 71 $38, $43, $51, -.6% 29 $387,5 $545, $657,5 3.5% Perth City 8 $655, $766, $86, -9.1% 185 $41, $5, $65, 1.% 1 $954, % South Perth/Victoria Park 159 $5, $615, $755, -3.9% 139 $376,5 $465, $575, -6.1% 16 $31, $42, $481, -24.9% Stirling East 398 $36, $425, $545, -1.4% 136 $27, $32, $379, -5.2% 3 $325, $377, $43, 1.9% Stirling West 225 $579,5 $7, $827,5-1.4% 1 $369, $443,5 $53, 2.2% 3 $475, $585, $695, 23.7% Vincent/Stirling SE 9 $69, $87,5 $96, -1.5% 62 $299, $419,5 $55, -3.6% 7 $34, $36, $465, -21.4% Western Suburbs 21 $9, $1,167,5 $1,57, -4.7% 123 $31, $45, $625, -9.1% 19 $525, $85, $1,88, -9.8% North West Sub-Region 1,34 $45,25 $48, $585, 2.1% 63 $295, $365, $438, 1.5% 322 $17,125 $257,5 $325, -1.% Joondalup North 182 $45, $515, $639, -1.% 24 $335, $37,5 $45, -4.1% 35 $4, $44, $475, 3.3% Joondalup South 31 $475, $557, $7, 1.7% 16 $28, $35, $429, -7.9% 13 $315,65 $4, $562,5-25.8% Wanneroo North East 158 $4, $46, $51, 3.4% 1 $382,5 n.a. 39 $2, $235, $288, -.9% Wanneroo North West 238 $35, $399,5 $47, -2.6% 14 $358, $399, $437, 12.6% 168 $13, $178,5 $259, Wanneroo South 146 $355,75 $442,5 $51, 5.1% 8 $249, $265,5 $27, -8.9% 67 $28, $295, $315, 3.8% 9.% North East Sub-Region 482 $36, $412,25 $492, % 38 $287,75 $342,5 $46,5 7.% 211 $25, $235, $265, -1.2% Kalamunda 137 $38, $445, $52,.% 8 $282,5 $32,25 $355, -37.6% 29 $22, $25, $27, 4.4% Mundaring 4 $434, $52, $596,5 4.% 1 $41, $41, $41, -6.2% $6 $22, $222,5-14.2% Swan 35 $35,75 $389, $46, -4.% 29 $283,5 $362, $44, 15.7% 176 $199, $233, $26, 1.7% Upper Quartile % Qtly (p) South East Sub-Region 637 $312, $379, $5, -.3% 2 $21,5 $278,875 $3,5-1.1% 197 $198, $23, $268, -4.6% Armadale 27 $285, $345, $482,5.% 12 $195,525 $235, $289,25-9.9% 114 $215, $243, $267, -.4% Gosnells 4 $32, $389,25 $51, -.2% 8 $268,75 $295, $32, -6.3% 55 $2, $237, $282, -14.7% Serpentine-Jarrahdale 3 $36, $42,5 $511,25 3.9% 28 $155,75 $173, $21,13 4.8% South West Sub-Region 749 $335, $4, $475, -2.4% 75 $225, $32, $387,5-1.5% 28 $18, $22, $297, 3.% Cockburn 234 $45, $465, $52, -1.1% 31 $325, $355, $43, 5.2% 93 $25, $3, $447,5.% Kwinana 18 $25, $316,5 $351,25 -.2% 5 $169, $17, $27,5-7.% 37 $179,269 $198, $242, 3.4% Rockingham 47 $332,5 $39, $4,34.% 39 $212,5 $27, $33,78-5.5% 15 $169,75 $19, $22, -1.6% Perth Planning Regions 4,899 $38, $475, $62,.% 1,189 $315, $42,5 $525, -1.2% 1,224 $193, $25, $33,75 2.% Data based on a sample of 65-7% of sales evidence for the quarter at time of data extraction & compilation Land sales data significantly influenced of pre-selling that delays sales evidence by up to 12 months House and Land sales data only includes properties less than 1 Ha 8 MARKET UPDATE JUNE QUARTER 212

9 Perth Region Perth Overview RESIDENTIAL REAL ESTATE SALES BY PRICE RANGE June Quarter 212 PERTH METRO REGION Houses Year to June 211 Year to June 212 March qtr 211 June qtr 212 % of total sales % of total sales % of total sales % of total sales $2 - $25, % % % 96 2.% $25 - $3, % % % % $3 - $35, % % % % $35 - $4, % % % % $4 - $45, % % % % $45 - $5, % % % % $5 - $55, % % % % $55 - $6, % % 57 7.% % $6 - $7, % % % % $7 - $8, % % % % $8k - $1 million % % % % $1 - $1.5 million % % % % Over $1.5 million 7 2.9% % % % Multi-Residential Up to $2, % % % % $2 - $25, % % 1 6.1% % $25 - $3, % % % % $3 - $35, % % % % $35 - $4, % % % % $4 - $45, % % % % $45 - $5, % % % % $5 - $55, % % % % $55 - $6, % % 1 6.1% % $6 - $7, % % 97 6.% % $7k - $1 million % % % % Over $1million % % % % Land Up to $15, % % % % $15 - $175, % % % % $175 - $2, % % % % $2 - $225, % % % % $225 - $25, % % % % $25 - $275, % % % % $275 - $3, % % % % $3 - $35, % % % % $35 - $4, % % % % $4 - $5, % % % % $5 - $75, % % % % $75k -$1,, % % 22 1.% % Over $1,, % % % % Source : Landgate/REIWA Housing Market Quarterly sales distribution indicate a small increase in turnover in several price ranges at or above the median, namely; $45-5k, $6-7k and $7-8k indicating increased trade-up activity. Equally, two of the major sub-median price ranges, namely the $3-35k and $35-4k ranges also recorded stronger activity due to first home buyers. The nett effect of increased lower end and tradeup activity has been a reasonably stable median price. By comparison, the annual data for the Year to June highlights the strength of the increased first home buyer sales in compared with which has contributed to a 3% fall in the annual median price from $485k to $47k. Multi-residential Market There is little direction on multi-residential price trends based on the quarterly sales distribution data for June quarter compared with the March quarter. There is some significant variability in the latest quarterly data whereas the annual data indicates stronger lower end activity in annual terms in Land Stronger quarterly sales activity in the sub $175, ranges, a lesser share in the $175-$3k ranges have balanced off an increase in the $35-75k which have contributed to the preliminary median land price of $25, being some 6% lower than the preliminary March figure of $265, which has subsequently moderated to $245,. The annual data indicates some variability across price ranges despite the annual median remaining stable at $24, between and OVERVIEW perth region Analysis includes all sales transactions including houses and land on lots > 1 Ha PERTH HOUSE SALES PRICE DISTRIBUTION Over $1.5 million $1 - $1.5 million March Qtr 211 $8k - $1 million June Qtr 212 $7 - $8, $6 - $7, $55 - $6, $5 - $55, $45 - $5, $4 - $45, $35 - $4, $3 - $35, $25 - $3, $2 - $25, % 2% 4% 6% 8% 1% 12% 14% 16% 18% PERTH MULTI-RES SALES PRICE DISTRIBUTION Over $1million March Qtr 211 $7k - $1 million $6 - $7, June Qtr 212 $55 - $6, $5 - $55, $45 - $5, $4 - $45, $35 - $4, $3 - $35, $25 - $3, $2 - $25, Up to $2, % 2% 4% 6% 8% 1% 12% 14% 16% 18% JUNE QUARTER 212 MARKET UPDATE 9

10 OVERVIEW perth region Sub- Markets Median Perth Overview Perth Region Sub-Market Distribution House Bedroom Analysis June Quarter 212 Source : Landgate/REIWA Distribution by Bedroom Numbers 1-2 Beds 3 Beds 4 Beds 5+ Beds All Houses 1-2 Beds 3 Beds 4 Beds 5+ Beds 1-2 Beds 3 Beds 4 Beds 5+ Beds Perth Planning Regions $492,5 $43, $496,2 $63, $475, 1.% 1.% 1.% 1.% 11.5% 44.4% 41.4% 2.7% Central Sub-Region $55, $528, $7, $79, $575, 75.9% 48.3% 22.3% 41.% 21.5% 52.9% 22.8% 2.8% Bassendean/Bayswater $46, $48, $523, $44, $485, 12.8% 5.1% 2.2% 5.2% 3.8% 47.% 19.2% 3.% Belmont $425, $452,5 $474, $475, $459, 5.3% 2.7% 1.1% 1.5% 26.8% 51.8% 19.6% 1.8% Canning $42, $435, $537,5 $535, $47, 6.2% 5.5% 3.6% 4.5% 15.1% 51.3% 31.% 2.6% Melville $611,5 $72, $81, $1,392,5 $67, 5.% 1.9%.5%.7% 34.6% 5.6% 13.6% 1.2% Stirling East $64,5 $633,5 $72, $693,75 $65, 6.1% 5.% 4.7% 7.5% 13.8% 43.9% 38.2% 4.1% Stirling West $673,5 $1,12,5 $766, 1.1%.1%.%.% 75.% 25.%.%.% Fremantle $625, $56, $785, $971, $615, 7.1% 4.1% 1.3% 1.5% 25.3% 56.3% 17.1% 1.3% Perth City $376, $413, $63, $64, $425, 1.% 11.7% 3.5% 3.% 14.6% 65.9% 18.5% 1.% South Perth/Victoria Park $692,5 $645, $912,5 $79, $7, 6.1% 6.2% 2.4% 3.7% 15.3% 6.8% 21.6% 2.3% Vincent/Stirling SE $735, $845, $1,22,5 $1,337,5 $87,5 7.% 1.8%.5% 1.5% 43.3% 43.3% 11.1% 2.2% Western Suburbs $931,25 $1,75, $1,57, $1,825, $1,167,5 9.3% 4.2% 2.5% 11.9% 24.8% 43.3% 24.3% 7.6% North West Sub-Region $342,5 $42, $51, $671,5 $48, 3.9% 17.5% 29.6% 27.6% 2.1% 36.6% 57.7% 3.6% Joondalup North $38, $425, $552,5 $77, $515,.5% 2.4% 5.9% 5.2% 1.6% 28.6% 65.9% 3.8% Joondalup South $59, $49, $625, $79, $557, 1.1% 6.4% 7.2% 14.9% 1.9% 44.8% 46.8% 6.5% Wanneroo North East $36, $385, $485, $55, $46,.2% 1.9% 5.6% 2.2%.6% 25.9% 71.5% 1.9% Wanneroo North West $335, $36, $43, $557,5 $399,5.5% 4.% 7.1% 3.% 1.3% 36.6% 6.5% 1.7% Wanneroo South $295, $372,5 $5, $53, $442,5 1.6% 2.7% 3.7% 2.2% 6.2% 4.4% 51.4% 2.1% North East Sub-Region $338, $375, $45, $57,5 $412,25 5.2% 9.3% 11.5% 13.4% 6.% 41.9% 48.3% 3.7% Kalamunda $3, $4, $497, $455, $445, 1.1% 2.7% 3.1% 6.7% 4.4% 43.1% 46.% 6.6% Mundaring $498, $522,5 $545, $52, 1.2%.7%.8%.% 17.5% 4.% 42.5%.% Swan $327, $36, $426, $565, $389, 2.9% 5.9% 7.6% 6.7% 5.2% 41.6% 5.2% 3.% South East Sub-Region $28, $325, $472,5 $425, $379, 7.8% 12.8% 15.1% 9.% 6.9% 43.4% 47.8% 1.9% Armadale $28, $315, $421, $557,5 $345, 4.1% 4.5% 4.1% 3.% 11.2% 47.1% 39.8% 1.9% Gosnells $28, $33, $49, $384,5 $389,25 3.7% 7.9% 9.9% 6.% 5.3% 42.8% 5.% 2.% Serpentine-Jarrahdale $368,5 $44, $42,5.%.4% 1.1%.%.% 26.7% 73.3%.% South West Sub-Region $378, $347, $43, $494, $4, 7.1% 12.1% 21.5% 9.% 5.3% 35.% 58.% 1.6% Cockburn $423,5 $413,75 $495, $51,5 $465, 2.9% 4.% 6.4% 1.5% 6.9% 36.9% 55.4%.9% Kwinana $225, $267, $345, $418, $316,5 2.% 2.3% 2.3%.7% 1.2% 45.4% 43.5%.9% Rockingham $399, $332, $41, $5, $39, 2.3% 5.9% 12.8% 6.7% 3.2% 31.2% 63.4% 2.2% Perth Metro Region $492,5 $43, $496,2 $63, $475, 1.% 1.% 1.% 1.% 11.5% 44.4% 41.4% 2.7% BEDROOM ANALYSIS HOUSES (C) PROPORTION OF SALES (%) 5% 45% 4% 35% 3% 25% 2% 15% 1% 5% % % of Sale Median 1-2 Beds 3 Beds 4 Beds 5+ Beds All Houses $7, $6, $5, $4, $3, $2, $1, $ 1 MARKET UPDATE JUNE QUARTER 212

11 Perth Region Perth Overview multi-residential Bedroom Analysis June Quarter 212 Sub- Markets Median Source : Landgate/REIWA Sub-Market Distribution Distribution by Bedroom Numbers 1 Bed 2 Beds 3 Beds 4 Beds All Units 1 Bed 2 Beds 3 Beds 4 Beds 1 Bed 2 Beds 3 Beds 4 Beds Perth Planning Regions $285, $37, $48, $672,5 $42,5 1.% 1.% 1.% 1.% 11.7% 56.3% 3.9% 1.% Central Sub-Region $282, $379, $52, $73, $42, 91.1% 87.5% 77.8% 64.3% 12.6% 58.2% 28.4%.8% Bassendean/Bayswater $216,6 $261,5 $46, $332, 7.% 6.1% 6.3%.% 13.3% 55.4% 31.3%.% Belmont $223, $31, $43, $37, 1.9% 1.5% 3.6%.% 1.3% 37.9% 51.7%.% Canning $32, $32, $371, $455, $37,.6%.9% 5.3% 7.1% 3.2% 22.6% 71.% 3.2% Melville $399,95 $479, $62, $55, 4.5% 4.2% 4.1%.% 12.5% 57.1% 3.4%.% Stirling East $362,5 $385, $5, $73, $43, 1.3% 5.2% 7.5% 7.1% 2.7% 53.4% 42.5% 1.4% Stirling West $387,5 $475, $71, $72, $5, 3.6% 2.6% 6.8% 7.1% 2.7% 66.8% 12.1%.4% Fremantle $24, $397,45 $575, $465, 7.% 1.9% 13.8%.% 7.3% 54.7% 38.%.% Perth City $212,5 $296,5 $385, $74, $32, 7.6% 11.3% 11.6% 21.4% 8.1% 57.4% 32.4% 2.% South Perth/Victoria Park $253, $385, $514,833 $745, $443,5 1.9% 7.3% 1.1% 21.4% 2.9% 53.4% 4.8% 2.9% Vincent/Stirling SE $255, $392, $591, $419,5 8.3% 6.6% 2.7%.% 17.6% 67.6% 14.9%.% Western Suburbs $31, $369, $745, $45, 2.4% 13.% 6.%.% 2.6% 63.2% 16.1%.% OVERVIEW perth region North West Sub-Region $311,75 $352,5 $429, $65, $365, 3.8% 4.% 7.2% 7.1% 9.% 44.8% 44.8% 1.5% Joondalup North $295, $36, $446, $65, $37,5 2.5% 1.7% 2.4% 7.1% 14.3% 46.4% 35.7% 3.6% Joondalup South $375, $287,5 $432,5 $35,.6% 1.3% 1.%.% 6.7% 66.7% 26.7%.% Wanneroo North East $382,5 $382,5 Wanneroo North West $358, $384,5 $433,5 $399,.6%.8% 1.9%.% 6.7% 4.% 53.3%.% Wanneroo South $355, $262, $265,5.%.1% 1.7%.%.% 12.5% 87.5%.% North East Sub-Region $32, $342,5 $44, $342,5.% 2.7% 3.9% 14.3%.% 52.6% 42.1% 5.3% Kalamunda $298,5 $49, $32,25.%.7%.7%.%.% 62.5% 37.5%.% Swan $41, $41, Mundaring $394, $335, $44, $362,.% 1.9% 3.1% 14.3%.% 48.3% 44.8% 6.9% South East Sub-Region $182,1 $289, $32, $278,875.%.7% 3.1% 7.1%.% 26.3% 68.4% 5.3% Serpentine-Jarrahdale $182,1 $255, $235,.%.4% 2.2%.%.% 25.% 75.%.% Gosnells $233,5 $295, $32, $295,.%.3% 1.% 7.1%.% 28.6% 57.1% 14.3% Armadale.%.%.%.% South West Sub-Region $22, $239, $345, $52, $32, 5.1% 5.2% 8.% 7.1% 9.9% 48.1% 4.7% 1.2% Rockingham $21,5 $385, $353,75 $355, 2.5% 2.% 3.9%.% 11.4% 42.9% 45.7%.% Kwinana $159,5 $27,5 $17,.%.3%.7%.%.% 4.% 6.%.% Cockburn $287, $231, $292, $52, $27, 2.5% 2.9% 3.4% 7.1% 9.8% 53.7% 34.1% 2.4% Perth Metro Region $285, $37, $48, $672,5 $42,5 1.% 1.% 1.% 1.% 11.7% 56.3% 3.9% 1.% BEDROOM ANALYSIS MULTI-RESIDENTIAL (C) PROPORTION OF SALES (%) 6% $8, 55% 5% % of Sale Median $7, 45% 4% 35% 3% 25% 2% 15% 1% $6, $5, $4, $3, $2, $1, 5% % $ 1-2 Beds 3 Beds 4 Beds 5+ Beds JUNE QUARTER 212 MARKET UPDATE 11

12 perth region Central Sub-Region Perth Region CENTRAL sub-region Housing Market Preliminary data indicates that the Central Sub-Region experienced an increased share in activity in the June quarter after three quarters of suppressed activity. The increase comes as the turnover continues to improve from the cyclical low in the June and September quarters of 211. As a result of the weaker activity in earlier quarters, the annual share of house sales in the Central Region fell back to 4% in , down from a recent high of 43% in Both the Inner and Middle Sectors shed 1% point of market share in with the Inner capturing 1% of the Perth s turnover whilst the Middle Sector had 3%. The preliminary median house price for the Central Sub-Region is down by 1.9% to $575, in the June quarter but this is expected to moderate as more settlements are received as the 2.6% preliminary fall in the March quarter has turned around with more data and in fact rose by.4% to $586,. Unlike the March quarter, both the Inner (-1.2%) and Middle (-1.9%) Sectors contributed to the Central TOP 1 SUBURBS BY QUARTERLY CHANGE IN PRICE SUBURBS Year to June 212 Quarterly in Region fall with most sub-markets other than the small Fremantle (4.7%) and Canning (.%) markets all recording falls in their preliminary medians (see page 8 summary). There is a broad distribution of suburbs comprising the Top 1 performing suburbs based on the quarterly change in the more stable annual median. Four of the Top 1 are located within the Inner Sector with two located in the Fremantle sub-market whilst another two are within the coastal Stirling West sub-market. With the Central Sub-Region annual median price continuing to fall (-3.3% for compared with 21-11) in line with the overall Perth annual median, so too is the 5 year Average Growth Rate (AAGR) continuing to slide. The latest measure of the 5 year AAGR for the Central Sub-Region is.5% p.a. with both Fremantle (-.5% p.a.) and Stirling East (-.5% p.a.) joining the Western Suburbs (-.8% p.a.) in negative territory. House Median Highest price Ascot 34 $62, $1,55, 1.2% Leederville 31 $85, $1,7, 7.5% Churchlands 3 $1,25, $1,75, 6.6% Wembley Downs 83 $925, $1,56, 5.9% Ardross 57 $87, $1,6, 5.6% North Fremantle 26 $85, $2,6, 4.4% Joondanna 89 $65, $1,25, 4.3% Cannington 97 $385, $795, 3.9% Noranda 73 $535, $795, 3.7% Fremantle 9 $765, $1,92, 3.6% Excludes suburbs with less than 5 sales for the year & dwellings on lots greater than 1 Ha. $7, $65, $6, $55, $5, $45, $4, $35, $3, Jun-7 PERTH CENTRAL SUB-REGION FHOG BOOST Jun-8 Jun-9 (C) 4,5 4, 3,5 3, 2,5 2, 1,5 HOUSE SALES - CENTRAL 1, HOUSE MEDIAN - CENTRAL 5 PMR HOUSE MEDIAN Jun-1 Jun-11 Jun-12 $1,, $9, $8, PERTH INNER SUB-REGION FHOG BOOST (C) 1, 9 8 $65, $55, PERTH MIDDLE SUB-REGION FHOG BOOST (C) 3, 2,5 $7, 7 $45, 2, $6, $5, $4, $3, Jun-7 Jun-8 Jun HOUSE SALES - INNER HOUSE MEDIAN - INNER 4 PMR HOUSE MEDIAN 3 Jun-1 Jun-11 Jun-12 $35, $25, $15, Jun-7 Jun-8 Jun-9 1,5 HOUSE SALES - MIDDLE 1, HOUSE MEDIAN - MIDDLE PMR HOUSE MEDIAN 5 Jun-1 Jun-11 Jun MARKET UPDATE JUNE QUARTER 212

13 Perth Region Central Sub-Region STOCK LISTINGS & SELLING DAYS June Quarter 212 Listings at June Indicative Land SUB-MARKETS & SUBURBS Qtr 212 Listings Source: reiwa.com Quarterly Ave Selling Days - Quarterly June Qtr 212 (p) INNER % -33.6% % Fremantle % -35.4% % Perth City % -44.2% % South Perth-Victoria Park % -29.4% % Vincent-Stirling SE % -25.6% % Western Suburbs % -31.4% % MIDDLE % -33.2% % Bassendean-Bayswater % -37.9% % Belmont % -45.4% % Canning % -32.3% % Melville % -29.5% % Stirling East % -34.% % Stirling West % -24.8% % CENTRAL SUB-REGION 4, % -33.2% % PERTH METRO REGION 12,157 2,566-15% -28.6% % Listings to Dwelling Stock CENTRAL sub-region perth region Listings to Dwelling Stock Ratio = Dwelling Listings as a percentage of estimated Dwelling Stock AVERAGE SELLING DAYS PERTH CENTRAL SUB-REGION FHOG BOOST Jun-7 Jun-8 Jun-9 Source: reiwa.com (C) 1, 8, 6, 4, Listings - CENTRAL 2, Ave Selling Days - CENTRAL Ave Selling Days - PMR Jun-1 Jun-11 Jun-12 LISTINGS Listing Stock and Selling Days Listings in the Central Sub-Region have fallen by a third over the past 12 months and were down some 19% in the June quarter but the more detailed sub-market data indicates some notable variability in the decline. The latest Listings to Dwelling Stock ratio provides a better measure of the local supply situation with the overall ratio for Central Sub- Region (1.4%) in line with overall market but there is also some significant variability between Vincent-Stirling SE (.8%) and City of Perth (3.8%). There was generally a positive trend across the Central Sub- Region in terms of a decline in the average selling days (69 days) which remain below the overall market (73 days). The tight supply situation reflected in listings ratios in Vincent- Stirling (.8%) and Belmont (1.%) are evident in falls in average selling days well below the overall market level. SELLER SENTIMENT June Quarter 212 SUBMARKETS Overall Market Variance Listing vs Sold June Quarter 212 March Quarter 212 June Quarter 211 Proportion of Vendors Discounting Listing & Sold Variance for Discounting Vendors Overall Market Variance Listing vs Sold Proportion of Vendors Discounting Listing & Sold Variance for Discounting Vendors Overall Market Variance Listing vs Sold Proportion of Vendors Discounting Source: reiwa.com Listing & Sold Variance for Discounting Vendors Central Sub-Region Bassendean/Bayswater Belmont Canning Fremantle Melville Perth City South Perth/Victoria Park Stirling East Stirling West Vincent/Stirling SE Western Suburbs Perth Metro Region PERTH CENTRAL SUB- REGION Source: reiwa.com(c) 1 1 Vendors Discounting 9 Overall Market Discount 8 Average Discount FHOG 5 BOOST Jun-7 Dec-7 Jun-8 Dec-8 Jun-9 Dec-9 Jun-1 Dec-1 Jun-11 Dec-11 Jun-12 VENDORS DISCOUNTING (%) DISCOUNT (%) Seller Sentiment The latest read of seller sentiment has two of the three measures in the Central Sub-Region showing some marked shifts with the proportion of vendors discounting (58%) now below the overall market (61%). This fall is attributed to a number of sub-markets. The level of overall discounting (3.1%) has fallen due to a smaller portions of sellers discounting but interestingly, of those vendors discounting, their level of discounting remains static (6.7%). The small Fremantle market makes for an interesting assessment with dramatic fall in the proportion of vendors discounting but the overall discount has risen sharply with a large rise in those vendors discounting increasing their discount to 1%. JUNE QUARTER 212 MARKET UPDATE 13

14 perth region Central Sub-Region Perth Region MEDIAN PRICE OF ESTABLISHED HOUSE SALES - PERTH CENTRAL SUBURBS June Quarter 212 CENTRAL sub-region SUB-MARKETS & SUBURBS House Lower Quartile Year to June 212 % Quarterly Median Upper Quartile Highest price Quarterly in in Ave over 5 Years % Ave over 1 Years % Jun Qtr 211 Mar Qtr 211 June Qtr 212 (p) Prelim Qtly Mar Qtr 211 Jun Qtr 212 (p) Central Sub-Region 1,66 $447 $58 $83 $15 -.9% -3.3%.5% 9.2% $595 $586 $ % 2,95 1,997 Bassendean/Bayswater 1,176 $42 $49 $565 $115.% -2.%.8% 1.4% $49 $5 $485-3.% Ashfield 24 $393 $42 $453 $ % -6.7% -.1% 11.1% $475 $435 $43-1.1% 4 4 Bassendean 174 $4 $455 $52 $11-1.2% -.1% 1.% 1.7% $495 $471 $46-2.3% Bayswater 245 $465 $52 $6 $17.8% -3.9% 1.7% 1.% $516 $53 $52-1.9% 62 5 Bedford 98 $57 $583 $698 $17-1.1% -6.5%.6% 9.5% $593 $593 $ % 3 21 Eden Hill 48 $33 $379 $431 $ % -7.6% -.3% 1.9% $418 $385 $ % Embleton 65 $385 $458 $5 $65 -.1%.5%.% 1.6% $467 $458 $ % Maylands 122 $445 $539 $695 $16-3.% -5.5% -1.7% 9.% $572 $68 $ % Morley 327 $41 $475 $513 $ % -1.%.7% 1.8% $468 $486 $ % Noranda 73 $48 $535 $628 $ % -3.6% -.2% 9.% $48 $55 $ % Belmont 629 $395 $463 $52 $155.5%.5% 1.7% 1.2% $455 $474 $ % Ascot 34 $466 $62 $814 $ %.4% -3.9% 1.9% $515 $52 $ % 11 5 Belmont 114 $39 $46 $56 $87 2.2% -.9% 2.4% 11.3% $422 $47 $ % Cloverdale 144 $378 $428 $485 $1 -.5%.6% 1.4% 1.9% $445 $428 $ % Kewdale 12 $385 $465 $527 $775.% 5.% 2.1% 1.3% $448 $48 $ % Redcliffe 119 $385 $42 $484 $662.% -4.% -.2% 8.9% $435 $455 $ % Rivervale 116 $47 $533 $618 $ % 5.1% 3.4% 1.5% $478 $513 $ % Canning 1,154 $4 $465 $575 $21.% -2.1% 2.1% 1.5% $464 $47 $47.% Bentley 99 $49 $445 $483 $ %.6% 1.5% 9.8% $43 $451 $ % 3 24 Cannington 97 $345 $385 $448 $ %.% 1.6% 9.2% $366 $356 $ % East Cannington 74 $371 $418 $48 $59 1.8% 1.7% -.1% 1.8% $41 $392 $ % Ferndale 75 $35 $4 $437 $55.% -6.7% 1.4% 1.9% $391 $415 $ % 2 2 Lynwood 57 $35 $39 $42 $ %.5% 1.6% 12.1% $38 $418 $41-1.7% Parkwood 75 $378 $421 $466 $63-2.1% -6.1% 1.5% 11.% $444 $48 $ % Queens Park 82 $356 $4 $44 $51-1.2% -2.2% 2.1% 12.1% $42 $4 $39-2.5% Riverton 82 $469 $553 $629 $ % -2.2% 2.9% 11.3% $514 $55 $ % Rossmoyne 38 $828 $933 $1135 $16 1.7% 9.7% 1.4% 1.3% $85 $855 $ % 1 7 Shelley 54 $51 $76 $943 $21-1.9% -5.% 3.1% 1.% $779 $829 $ % 2 8 St James 98 $416 $459 $536 $78-3.9% -7.6% 1.8% 9.5% $49 $49 $ % Willetton 239 $52 $58 $65 $9 1.4% 4.3% 3.9% 11.8% $555 $588 $ % Wilson 84 $427 $494 $575 $155.5% -2.5% 1.6% 1.5% $462 $485 $55 4.1% Fremantle 444 $514 $666 $885 $39 1.7% -7.5% -.5% 8.5% $65 $64 $67 4.7% Beaconsfield 51 $533 $64 $733 $15.8% 1.2%.6% 9.9% $623 $638 $ % 16 1 East Fremantle 79 $78 $1 $133 $39.% -4.8% 1.% 9.7% $955 $9 $92 2.2% Fremantle 9 $661 $765 $933 $ % 2.7% 1.1% 9.5% $658 $775 $85 9.7% Hilton 86 $439 $48 $52 $88-1.% -6.3%.8% 1.6% $515 $48 $47-2.1% North Fremantle 26 $751 $85 $999 $26 4.4% -1.4% -4.% 7.1% $56 $87 $875.6% 4 2 O'Connor 6 $325 $363 $56 $638.7% -3.3% -4.7% 7.% $445 $317 $ % 2 1 Samson 26 $453 $519 $589 $65-2.4% -4.9% 2.3% 1.3% $574 $549 $ % 6 6 South Fremantle 35 $77 $89 $97 $ % -4.2% 1.4% 1.3% $9 $845 $ % 9 6 White Gum Valley 45 $564 $63 $72 $ % -1.% 1.1% 9.7% $66 $643 $68-5.5% 15 1 Melville 1,33 $555 $679 $859 $61-1.2% -1.6% 1.2% 9.3% $685 $71 $65-8.5% Alfred Cove 32 $598 $671 $771 $ % -9.9% 1.2% 8.4% $72 $752 $ % 1 6 Applecross 78 $129 $1341 $1629 $45 3.2% -1.6% -1.9% 8.6% $18 $1316 $14 6.4% Ardross 57 $69 $87 $198 $16 5.6% 1.5% 1.7% 9.1% $71 $87 $92 5.7% 21 8 Attadale 77 $775 $1 $123 $ % -14.2% -1.% 8.6% $115 $173 $ % Bateman 39 $515 $625 $695 $946.3% 2.5% 2.6% 1.% $592 $56 $61 8.8% 9 8 Bicton 79 $676 $855 $12 $26.6% -5.%.8% 8.8% $888 $86 $96 5.3% 21 2 Booragoon 78 $612 $74 $846 $128.4% -1.7% 2.% 9.5% $697 $74 $83 8.4% 27 6 Brentwood 25 $525 $579 $625 $86 1.6% 5.3% 1.% 9.4% $55 $57 $ % 9 3 Bull Creek 18 $56 $63 $711 $1145.% 5.% 3.1% 11.% $65 $633 $639.9% Kardinya 16 $471 $57 $659 $15.4% -2.1% 1.1% 9.5% $566 $68 $57-6.2% Leeming 125 $525 $65 $67 $88.% -2.6% 1.9% 9.7% $615 $65 $ % Melville 11 $593 $75 $821 $14-1.4% -4.9% 2.4% 9.9% $75 $745 $73-5.7% Mount Pleasant 97 $69 $92 $14 $61.% -14.% -1.5% 8.4% $838 $812 $ % 31 2 Murdoch 19 $587 $65 $739 $87.% -9.7%.8% 8.8% $68 $72 $713-1.% 7 6 Myaree 15 $561 $633 $74 $ % 16.1% 1.4% 1.1% $5 $71 $ % 4 3 Palmyra 122 $59 $65 $749 $ % -4.9% 1.2% 9.7% $66 $655 $ % Willagee 17 $43 $477 $539 $724.2% -3.% 1.6% 1.5% $5 $489 $53 8.4% Winthrop 56 $741 $89 $929 $22 2.4% 2.4% 2.% 9.7% $755 $78 $ % 17 8 Perth City 54 $651 $75 $933 $192 2.% -5.7% 1.5% 8.9% $7 $843 $ % 12 8 East Perth 12 $798 $958 $13 $ % -13.% -6.6% 7.1% $1213 $975 $ % 3 3 Perth 23 $656 $722 $773 $ %.3% 2.5% 9.7% $699 $763 $ % 6 2 West Perth 18 $639 $728 $848 $1-3.% 12.8% 4.3% 1.3% $798 $91 $ % 3 3 Excludes suburbs with less than 5 sales for the year & dwellings on lots greater than 1 Ha. All figures are preliminary for up to 4 months after end of quarter REIWA - For the exclusive use of REIWA Subscribers Unauthorised distribution, reproduction or sale of the data will breach REIWA s copyright 14 MARKET UPDATE JUNE QUARTER 212