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More WA homes for sale

There are currently around 16,000 properties on the market in Western Australia, the state's Real Estate Institute has revealed.

The number of houses on the property market in Western Australia (WA) has increased over the last year.

This is according to the Real Estate Institute of Western Australia (REIWA), which revealed in its most recent statement that there are currently around 16,000 properties on sale in the state - the highest number since December 2008.

Alan Bourke, president at the REIWA, said that listings have increased across the board, but that notable rises have been seen in Melville (26 per cent), Stirling East (21 per cent), Swan (19 per cent) and north-east Wanneroo (17 per cent).

"As a consequence, the number of sellers prepared to drop their asking price has increased from 60 to 67 per cent, with the average discount now being six per cent off the advertised price," Mr Bourke said, which could interest those seeking to invest in Australian property.

Last month, the Property Council of Australia's executive director Joe Lenzo told the Australian newspaper that he welcomed a plan created by the WA government to build more property in the state.

Posted by Steve Douglas 

- Perth, property, sales, supply, prices

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