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The slowdown in the mining and construction sector is pointing to a drop in sales for the December quarter in Western Australia.
An analysis of the quarter released by REIWA (Real Estate Institute of Western Australia) indicated falling sales, but steady prices.
REIWA president David Airey said sales activity had peaked two years ago and had been trending down since the March quarter of 2013.
“Turnover of the December quarter is about 14% below the 15 year average,’’ he said.
A downturn in the mining and resources sector was a continuing factor in causing the population growth rate to fall.
“This situation is likely to affect the housing market for all of 2015, but we shWesterould have a clearer picture of trends by the end of the March quarter.”