Mandurah saw an active August with a rise in sales and solid pricing growth while rental volumes declined
and median leasing times edged upward.
SALES
There were 41 residential sales recorded during the month which was up from July and 2.5 percent higher
than the same time last year. The median house price rose to $570,000 reflecting a 20 percent increase over the past 12 months.
LISTINGS
Listings dropped to 22 properties for sale at the end of August which is down 15.4 percent from July but still 144 percent higher than this time last year suggesting improved choice for buyers.
LAND
Only one land sale was recorded for the month with a median price of $350,000. Ten blocks were listed for sale at the end of August offering moderate supply for the area.
SALES TIME ON MARKET
Homes sold in a median of 25 days slightly longer than the previous month but still 13 days quicker than this time last year. Land settled in a median of 20 days indicating steady buyer interest.
RENTALS
Rental activity eased with 17 leases signed across houses and units. The median rent held steady at $525 per week representing a 6 percent annual increase.
RENTALS TIME ON MARKET
There were 17 rental listings available at the end of August. Properties leased in a median of 22 days which is slightly slower than last month but still healthy by local standards.
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