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The property market is an ever-changing industry, so it pays to keep an eye on trends and movement in the sector when making buying, selling or investing decisions. We take a look at some current market statistics for WA.

Over the past month, houses and units showed equal rates of capital gains. However, it showed housing to be the stronger performer for capital growth. The scarcity of land and lower supply levels is driving detached housing values higher. Median house prices in Perth were recorded at $548,500, whilst the median price for units was recorded at $430,000.

There’s also been an increase in stock available on the property market, with a total 12,818 properties currently listed for sale, compared to 8,638 from this time last year. This, combined with the record low interest rates, makes it a perfect market for buyers at the moment.

Furthermore, recent ABS data found apartment approvals reached an all-time high in November meaning there will be more new stock coming onto the property market throughout the year.

According to REIWA data, median weekly rent prices have remained steady at $450 which is good new for investors as well. The vacancy rate is sitting at just under 4.0 per cent, which is slightly down from the June quarter.

Look forwards; the record low interest rates in 2015 could potentially add fuel to the housing market, particularly the investor segment, which continues to remain strong. The RBA credit aggregates showed a rise in investor loan commitments by just over 10 per cent, around the threshold that The Australian Prudential Regulation Authority (APRA) indicated they would be comfortable with.

These figures show a very interesting beginning to the year for the WA property market and great opportunities on the market currently for first homebuyers or investors. To take advantage of this buyers’ market, contact a Launch Broker today.

Written by Duncan McKinnon.