Figures from the Real Estate Institute of Western Australia (REIWA) showed 1,048 sales in the month, reflecting a 9% increase from October and 24% gain from the same period last year.<\/p>\n REIWA President Damian Collins said this was the fourth consecutive month of increased sales for Perth.<\/p>\n “It was another strong month of sales in Perth, with REIWA members on the ground reporting high sales turnovers across all price points,\u201d he said.<\/p>\n \u201cThe Perth residential sales market is in a very good position for further growth as we exit 2021 and move into 2022.\u201d<\/p>\n Hamilton Hill, North Perth, Karrinyup, Greenfields, and Shoalwater were the five top-performing suburbs in the month, posting the biggest gains in sales activity.<\/p>\n Despite the busy housing market, Perth\u2019s median dwelling value only increased by 0.2% in the month.<\/p>\n However, annual figures show a 14% growth to $520,000.<\/p>\n “Whilst overall price growth is modest, the suburb level data tells a very different story with 90 suburbs recording price growth during the month,\u201d Mr Collins said.<\/p>\n Willagee is the suburb with the highest monthly growth in median prices, up 4% to $625,000.<\/p>\n Other suburbs also posted robust gains in the month, including Golden Bay (up 3.8% to $395,000), Kingsley (up 3% to $655,000), Spearwood<\/a> (up 2.9% to $525,000), and East Victoria Park (up 2.9% to $700,000).<\/p>\n Perhaps one factor that impacted the monthly growth in prices was the 7% increase in listings \u2014 over the month, 9,271 properties were listed on Reiwa.com.<\/p>\n “As is typical for this time of year, we’ve seen a steady increase throughout spring in the number of properties for sale in Perth as sellers look to capitalise on the strong market conditions,\u201d Mr Collins said.<\/p>\n Despite the increase in listings, the time it takes to get a property sold shrank to 14 days, one day faster than in October and seven days faster than in November last year.<\/p>\n \u201cThat is exceptionally fast and illustrates buyers are needing to act swiftly in this market and put in competitive offers to ensure they don’t miss out on a property, Mr Collins said.<\/p>\n \u2014<\/p>\n Photo by Harry Cunningham on Unsplash.<\/p>\n<\/p><\/div>\n
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November was a busy month for Perth<\/a> property sellers, as sales hit strong monthly and annual gains.<\/p>\nModest monthly gain in prices<\/h2>\n
Steady increase in listings<\/h2>\n
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