Western Australia's wheat belt rural sales market remains active

Western Australia's wheat belt rural sales market remains active
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.

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Western Australia's wheat belt rural sales market remains active

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.

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Western Australia's wheat belt rural sales market remains active

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.

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Western Australia's wheat belt rural sales market remains active

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.

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Western Australia's wheat belt rural sales market remains active

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.

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Western Australia Rural Market

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