Western Australia's wheat belt rural sales market remains active
Outside of Perth there were 8,007 residential house and agricultural sales over the year to November 2016, only 3 more sales than the 12 months to November 2015, according to Landmark Harcourts’ latest Benchmark Report (bit.ly/LHBenchmark).
While the number of sales remains virtually unchanged over the year; the value of these sales fell -1.4% to $3.7 billion over the year.
In terms of the number of sales, 69.7% of all sales were residential properties, while in value terms, residential properties accounted for 55.2% of the total value of sales across regional Western Australia.
Compared to one year ago there were -5.5% fewer agricultural sales across regional Western Australia over the year to November 2016.
Of the 2,427 sales, the majority (65.7%) were on land sizes of less than 40 hectares, while 16.4% of transactions were on lots between 40 and 100 hectares.
15.3% were on between 100 and 1,000 hectares and 2.6% of sales were on land sizes larger than 1,000 hectares.
Looking at the value of sales that transacted over the year to November 2016, agricultural sales accounted for $1.7 billion worth of sales, an increase of 1.1% compared to the same time 12 months ago.
Of the total value of sales, 43.8% were for properties on less than 40 hectares, 18.6% were for properties on between 40 and 100 hectares.
31.1 percent were for properties ranging between 100 and 1,000 hectares and 6.5 percent were for properties larger than 1,000 hectares.