December Quarter 2010 - Western Australian Planning Commission

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P 37,620 P 14,789 P 52,409 Department of Planning – December Quarter 2010 Dwelling sales and prices Figure 6 Dwelling sales and median sale price during the quarter Scope Houses plus units and other residential type properties. Excludes multilot, related party and institutional sales Median Price ($) 600,000 500,000 400,000 Number sold 18,000 16,000 14,000 12,000 Source Valuer General's database, Landgate 300,000 10,000 8,000 Note 200,000 6,000 Date of sale is the contract date. Recorded in the database after settlement. Recent quarters especially the last two quarters are incomplete due to this lag 100,000 0 Dec- 05 Mar- 06 Jun - 06 Sep - 06 Dec- 06 Mar- 07 Jun - 07 Sep- 07 Dec- 07 Mar- 08 Sales - Metro/Peel Jun - 08 Median price - Metro/Peel Median price - WA Sep- 08 Dec- 08 Mar- 09 Jun - 09 Sep- 09 Dec- 09 Mar - 10 Sales - Rest of WA Jun - 10 Median price - Rest of WA Sep - 10 Dec - 10 4,000 2,000 0 Note: Metro/Peel includes the Perth Metropolitan Region plus the City of Mandurah and the Shire of Murray in the Peel Region. Source: Valuer General’s database, Valuation Services, Landgate. Data for December 2008 to December 2010 updated on 24 February 2011. Table 6 Dwelling sales – annual summary and quarterly comparison 2005/ 2006 2006/ 2007 2007/ 2008 2008/ 2009 2009/ 2010 Five year average Dec Qtr 2009 Dec Qtr 2010 Five year average for Dec Qtr 3 Houses 1 Metro/PeelP 25,881 21,178 23,606 25,560 26,769 6,400 4,057 5,273 Rest of WA 12,001 9,093 6,856 5,973 6,378 8,060 1,664 983 1,579 WA 49,621 34,974 28,034 29,579 31,938 34,829 8,064 5,040 6,851 Units & Other 1 Metro/PeelP 11,774 9,251 10,558 12,016 11,678 3,034 1,932 2,395 Rest of WA 1,841 1,448 1,154 995 1,066 1,301 291 146 246 WA 16,630 13,222 10,405 11,553 13,082 12,978 3,325 2,078 2,641 Total 1 Metro/PeelP 37,545 30,339 34,204 37,632 38,426 9,421 6,059 7,683 Rest of WA 13,842 10,902 8,282 7,135 7,698 9,572 2,033 1,179 1,880 WA 66,251 48,447 38,621 41,339 45,330 47,998 11,454 7,238 9,563 Note: 1. Metro/Peel includes the Perth Metropolitan Region plus the City of Mandurah and the Shire of Murray in the Peel Region. 2. Date of sale is the contract date recorded in the database after settlement. Recent quarters are incomplete due to this lag. 3. Average of five December quarters – December 2006, December 2007, December 2008, December 2009 and December 2010. 4. Residential lots are those with residential zoning under a local planning scheme. Source: Valuer General’s database, Valuation Services, Landgate. Data for December 2008 to December 2010 updated on 24 February 2011. Sales of established dwellings in WA have declined since September 2009, with the December 2010 quarter having the lowest figure in the five year period displayed in Figure 6. The Metro/Peel Region median price for the December quarter 2010 is $475,000 which is basically equivalent to the previous December quarter figure. Prices in Regional WA have stabilised in the last year with a median price of $380,000 recorded in the December quarters of 2009 and 2010. Recent quarters’ figures should be used with care as they are preliminary. 9
326,000 Department of Planning – December Quarter 2010 Dwelling median and lower quartile sale price Figure 7 Dwelling median and lower quartile sale price Scope Vacant lots of all sizes with residential zoning Excludes multilot, related party and institutional sales Source Valuer General's database, Landgate Price ($) 600,000 550,000 500,000 450,000 400,000 350,000 300,000 250,000 Note 200,000 Date of sale is the contract date. Recorded in the database after settlement. Recent quarters expecially the last two quarters 150,000 100,000 50,000 0 Dec- 05 Mar- 06 Jun - 06 Sep - 06 Dec- 06 Mar- 07 Jun - 07 Sep- 07 Dec- 07 Mar- 08 Median price - Metro/Peel Jun - 08 Low er quartile price - Metro/Peel Sep- 08 Dec- 08 Mar- 09 Jun - 09 Sep- 09 Dec- 09 Mar - 10 Median price - Rest of WA Jun - 10 Low er quartile price - Rest of WA Sep - 10 Dec - 10 Note: Metro/Peel includes the Perth Metropolitan Region plus the City of Mandurah and the Shire of Murray in the Peel Region. Source: Valuer General’s database, Valuation Services, Landgate. Data for December 2008 to December 2010 updated on 24 February 2011 Table 7 Dwelling prices – annual summary and quarterly comparison Dec Qtr 2005 Dec Qtr 2006 Dec Qtr 2007 Dec Qtr 2008 Dec Qtr 2009 Dec Qtr 2010 Metro/Peel 1 Median 440,000 465,000 410,000 476,000 475,000 Lower quartile 257,000 355,000 374,000 340,000 380,000 375,000 Rest of WA Median 240,000 330,000 360,000 335,000 380,000 380,000 Lower quartile 143,000 210,000 255,000 245,000 277,500 280,000 WA Median 312,000 418,000 445,000 400,000 462,000 460,000 Lower quartile 238,200 328,000 350,000 325,000 365,000 360,000 Note: 1. Metro/Peel includes the Perth Metropolitan Region plus the City of Mandurah and the Shire of Murray in the Peel Region. 2. Date of sale is the contract date recorded in the database after settlement. Recent quarters are incomplete due to this lag. Source: Valuer General’s database, Valuation Services, Landgate. Data for December 2008 to December 2010 updated on 24 February 2011 Median prices in Perth/Peel and country WA have generally trended upwards in the five year period displayed in Figure 7 with occasional fluctuations, in particularly the low point in December 2008. As an approximate rule, median prices have increased on average by $5000 per quarter in Perth/Peel and $5,500 per quarter in country WA over the five year period. When considering short term trends, the data for 2010 shows median prices trending slightly downward in Perth/Peel while remaining reasonably constant across the rest of the State. 10
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December Quarter 2010 - Western Australian Planning Commission

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