Not enough houses for sale in WA, say analysts

by Caroline Dann13 Aug 2012

The number of properties for sale in WA remains a big concern for analysts.

The Real Estate Institute of Western Australia (REIWA) released the data last week, warning that despite solid figures for house sales, the market wasn't being "replenished" adequately.
The number of properties for sale in June dropped to 11,000.
"This is well below the 14,300 properties we had on the market in March and sits below the equilibrium of around 12,000 listings, suggesting the market is swinging back to favour sellers,” said David Airey, president of REIWA.
Meanwhile, modest growth in land sales, a small increase in unit sales and a fall in property prices in regional areas resulted in a "steady-as-she-goes" market, said Airey.

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