perth listings

Property listed for sale week ending 27/9/12
Houses = 6137 Units = 1762 Land = 2149 total = 10,048
Perth listings at lowest level since 2006.
Down approx 400 properties on last week. Houses had biggest drop down 352 on last week.
Whats selling. Cheap houses.
Whats not happening. The 50% of the market comprising second home buyers, upgraders, migrants etc. are not buying 1mil properties on mass like the years leading up to 2007. The people selling their cheap houses to first home buyers are upgrading modestly. In the boom years the top selling suburbs by numbers were regularly, Cottesloe, Mosman Park, Applecross etc. Now the cheaper middle ring and outer burbs. The market has returned to reality, affordable is hot. Ego megamansions are not.