Welcome to your weekly wrap-up of the Perth real estate market. We’re diving into the latest figures to give you the insights you need, whether you’re thinking of buying, selling, or leasing.
Here’s the state of play for the past week.
Sales Market Activity
Sales transactions saw a slight moderation last week, dipping by 3.1% to 852 reported sales by REIWA. This adjustment was seen across the board:
- House sales: Down 2.7%
- Unit sales: Down 2.1%
- Land sales: Down 10.2%
Even with this slight pause, buyer interest remained concentrated in several key areas.
Top Performing Suburbs for Sales:
- Baldivis (21 sales)
- Perth (17 sales)
- Rivervale (12 sales)
- Armadale (11 sales)
- Como (11 sales)
The market continued to show its full range, with the week’s highest sale recorded in Attadale at $4,600,000, and the most accessible in Mount Lawley at $405,000.
Properties for Sale: The Inventory Story
For sellers, the most critical number remains the low level of available stock.
At the end of last week, there were 2,832 properties for sale in Perth, a small 1.9% increase from the week prior. This was almost entirely due to a 3.8% rise in new house listings, while unit and land listings both saw a slight decrease.
However, it’s essential to see the bigger picture. This total figure is:
- 3.3% lower than four weeks ago.
- A massive 40.4% lower than this same time last year.
What this means: Despite a minor weekly tick up in new listings, the market remains firmly undersupplied. Competition among buyers is high, and quality properties are attracting significant attention.
Perth’s Rental Market
The rental market held steady last week, with 2,243 properties available for rent—a similar figure to the previous week.
In good news for tenants, this is 5.8% higher than four weeks ago and 14.7% higher than a year ago, offering slightly more choice.
Leasing activity was strong, with 637 properties leased, marking a 4.3% increase from the previous week and 6.3% higher than a year ago.
Top Performing Suburbs for Rentals:
- Baldivis (23 leases)
- Perth (12 leases)
- Rivervale (12 leases)
- Brabham (11 leases)
- South Perth (11 leases)
Our Take
The market continues to move at pace. The slight dip in weekly sales volume is normal, while the critically low inventory levels remain the dominant story, continuing to place sellers in a strong position.
Thinking of making a move? Whether you’re curious about your home’s current value or looking to navigate the purchasing process, our team is here to help with expert advice.