Sales Activity Remains Strong
The Perth real estate market continues to show signs of resilience, with sales transactions increasing by 3.7% last week compared to the previous week. This growth was primarily driven by a surge in house sales, which saw a 13.3% increase. While unit sales experienced a decline of 21.2%, land sales remained robust, up 14%.
Top-Performing Suburbs
- Sales: Rivervale, Baldivis, Ellenbrook, Armadale, and Como led the way in terms of sales activity.
- Rentals: Perth, East Perth, Baldivis, Yanchep, and Rockingham were the most sought-after rental suburbs.
Market Dynamics
- Inventory: The number of properties available for sale increased slightly by 3.6%, mainly due to a rise in house listings. However, this figure remains 5.2% lower than levels seen a year ago.
- Rentals: The rental market saw a slight decrease in listings, but remains 14.5% higher than a year ago.
Key Takeaways
- Strong sales activity continues to underpin the Perth market.
- House sales are driving the overall growth.
- Rental demand remains steady, with a slight increase in listings compared to a year ago.
Overall, the Perth real estate market is demonstrating a healthy balance between supply and demand. While there are some fluctuations in certain segments, the overall trend remains positive.