Activity in the Perth property market continued to heat up last week, with positive movement recorded across both sales and leasing sectors. Whether you are looking to buy, sell, or invest, here is the latest data on how the market performed.
Sales Market Overview
Transaction numbers are trending upward. Overall sales transactions rose by 2.4% last week, with a total of 933 transactions reported by REIWA members.
When we look closer at the property types, established homes and units are driving this growth:
- House Sales: Up 5.4%
- Unit Sales: Up 8.2%
- Land Sales: Down 28.1%
Top Performing Suburbs (Sales)
Activity was strong across the metropolitan area, with Rockingham taking the top spot for the week. The top 5 suburbs for sales volume were:
- Rockingham (15 sales)
- Baldivis (13 sales)
- East Perth (13 sales)
- Armadale (12 sales)
- Balga (12 sales)
Market Extremes:
- Highest Sale: South Perth ($6,500,000)
- Lowest Sale: Perth ($400,000)
Listings and Stock Levels
For buyers waiting for more choice, there is some modest relief. The total number of properties available for sale in Perth ended the week at 3,026, a 2.9% increase from the previous week.
This rise in stock is primarily driven by a 4.2% increase in house listings and a 5.8% lift in vacant land listings, while unit listings tightened slightly (-2.7%).
The Bigger Picture: While stock has risen slightly over the last month (+6.8% vs. 4 weeks ago), inventory remains critically low compared to historical trends. Current listings are still 44.3% lower than they were at this time last year. This indicates that competition among buyers remains fierce.
Rental Market Update
The rental market remains incredibly active. Leasing activity saw a significant jump, with 696 properties leased last week. This represents an 11.9% increase in leasing activity compared to the previous week and is 15% higher than the same time last year.
Rental Stock: There were 2,169 properties available for rent at the end of the week (up 3.2% on the week prior). While listings are slightly down compared to four weeks ago, they are sitting 1.3% higher than this time last year, offering a glimmer of stability for tenants.
Top Performing Suburbs (Rentals)
High demand continues in key growth corridors and the inner city:
- Baldivis (29 leased)
- East Perth (19 leased)
- Perth (18 leased)
- Alkimos (16 leased)
- Rivervale (13 leased)
What This Means For You
- Sellers: With total stock still down over 44% year-on-year and sales transactions rising, demand for established homes is heavily outstripping supply. Now remains an excellent time to come to market.
- Buyers: While stock remains tight, the slight week-on-week increase in listings suggests new opportunities are hitting the market. Being prepared with your finance approval is essential to moving quickly.
- Landlords: Leasing activity is up nearly 12% in a single week. Tenant demand is as strong as ever, minimising vacancy periods and sustaining yield performance.
Are you ready to make your move in the Perth market? Contact our team today for an appraisal or to discuss your property goals.
