Land availability picks up in Perth

Land availability picks up in Perth

Those considering a custom home project would be pleased to hear that a large amount of land has been listed for sale in Western Australia in the past week. In fact, according to the Real Estate Institute of Western Australia (REIWA), overall property listings have reached a significantly high level.

While real estate sales may have softened a bit, this could largely be due to the amount of stock that is coming to market at the moment. The temporary easing of sales should not be an area of concern, as buyers are presented with more choice and the market absorbs the effect of this. With the recent Reserve Bank of Australia decision to cut the cash rate, and plenty of lenders passing this on to buyers, it’s quite possible that buyer numbers will increase as well going forward.

According to REIWA, 13,535 properties were listed for sale as at February 25, and this includes 1,815 parcels of land. This is not only a huge amount of land that is now ripe for the picking, but overall listing sales have not been this high since May 2012. With more listings on the market, we could see land becoming relatively more affordable.

There are almost 1,000 more properties listed this week than there were four weeks ago. This time last year, there were only 9,207 listings available. While we have the pick of the bunch this year, this week in 2014 seemed to have slightly more sales: 814 compared to 707 this week in 2015. The market is still climbing out of its summer slump though, with REIWA reporting that four weeks ago there were as few as 538 sales.

If you’re interested in building a custom built home in Perth, make sure to look at available land while there is plenty available.

Share on facebook
Share on twitter
Share on linkedin
Share on email
Share on pinterest

COMMENT

ENQUIRE NOW

Experienced, Professional, Transparent

As a highly awarded and recognised luxury home builder in Perth, we are here to work with people who are at a certain stage in their lives, either financially, or in terms of the lifestyle they want to live.

ONLINE ENQUIRY
  • This field is for validation purposes and should be left unchanged.

Kinkuna Way City Beach

About the project

We are working on developing an amazing new home design to meet our Clients design brief and have submitted the completed design to shire for D.A approval. The old home ready to demolish.

While our team create the working & structural drawings , choose the selections and interior design colours and fixtures while we wait for D.A approval , we have demolished the home ready to start on site by Aug / Sept.

Banool Crescent City Beach

About the project

To support the deep excavation to the North , east and west boundaries we have chemically injected grout to shore up the sand and its holding up well as we start excavating.

We have commenced are progressing with major earthworks ,setting up compacted pad levels for our piling plant and machinery.