REIWA Market Update (June Quarter)

REIWA Market Update (June Quarter)

REIWA Market Update (June Quarter)

Looking for accurate information about what's happening in your local market? Recent information prepared by REIWA for the June Quarter for the Broome Urban Area suggests that sales activity has experienced declining trends during the June 2018 quarter. 

Listings for sale in the Broome urban area have increased by 67% against the previous quarter and are 8% higher than the same time last year. The average time to sell a property has decreased by 6 days to 81 days. 

152 Properties have been leased for the quarter with the overall median weekly rent at $468 per week which is $18 higher than the March 2018 quarter.


SALES ACTIVITY UPDATE
  • Sales activity in the Broome urban area has experienced declining trends during the June 2018 quarter.
  • Total of 20 house transactions have settled so far for the quarter
  • Median house price is $466,000
  • Represents a depreciation of 0.9% in median house prices over the latest quarter and a 31% fall in sales activity.

 

 

LISTINGS FOR SALE & AVERAGE SELLING DAYS 
  • Listings for sale in the Broome urban area have increased by 67% against the previous quarter and are 8% higher than the same time last year.
  • The average time to sell a property has decreased by 6 days to 81 days.


RENTAL MARKET
  • 152 Properties Reported as Leased (by REIWA Agents) for the quarter.
  • Represents a decrease of 7.3% for the quarter.
  • The overall median weekly rent in the area came in at $468 per week which is $18 higher than the March 2018 quarter.

 

MARKET SNAPSHOT – JUNE 2018 QUARTER 
BROOME URBAN AREA 15 AUGUST 2018, PREPARED BY DILLON KANBI (REIWA)
This analysis is based on information available at the time of compilation and is subject to revision.

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