Neighbouring suburbs dominate property listings

as posted here

Chalpat Sonti
June 4, 2009 - 7:01AM
Looking to buy a house? You're most likely to be in luck in the south eastern part of Perth, new figures show.

An analysis by RP Data has found almost one in ten of all houses in the neighbouring suburbs of Thornlie, Canning Vale and Gosnells were listed for sale in the state in the past year.

With 463, 461 and 350 properties listed respectively, the south eastern suburbs headed the rankings for WA, ahead of Port Kennedy and Ballajura (both 332).

With the rise in listings came a fall in prices, with all three south eastern suburbs recording drops in the median price of between 5 and 6 per cent. All bar Canning Vale of the top five suburbs had average prices below that of Perth as a whole.

It was a different story as far as units went, with Scarborough leading the way.

Of the 1390 units in the seaside suburb, 304, or 22 per cent, were listed for sale. Unit prices fell 6.8 per cent over the year.

A similar percentage of units were up for sale in Como, with 263 listed. Prices held up better in the south Perth locale, down just 0.6 per cent.

Maylands, where 218 units were listed, was next, ahead of South Perth with 179 and Rockingham (131, or 26 per cent of all units). Prices plunged 8.8 per cent in Maylands and 7.5 per cent in Rockingham, but South Perth reversed the trend with the average increasing 2.5 per cent.

RP Data senior research analyst Cameron Kusher said low consumer demand led to a build up in the number of properties for sale.

Top five suburbs - houses

Suburb, average price, 12-month growth, total listings, total dwellings

Thornlie, $362,250, -5.3 per cent, 463, 5177

Canning Vale, $493,000, -5.2 per cent, 461, 3965

Gosnells, $310,500, -5.9 per cent, 350, 3913

Port Kennedy, $370,000, -3.9 per cent, 332, 2563

Ballajura, $395,000, -3.4 per cent, 332, 4330

Top five suburbs - units

Suburb, average price, 12-month growth, total listings, total dwellings

Scarborough, $400,000, -6.8 per cent, 304, 1390

Como, $432,500, -0.6 per cent, 263, 1172

Maylands, $290,000, -8.8 per cent, 218, 2174

South Perth, $495,000, 2.5 per cent, 179, 1602

Rockingham, $245,000, -7.5 per cent, 131, 504




as posted here