Welcome to the latest comprehensive property market update from the team at Holdsworth Real Estate. As your trusted local property experts, we continuously monitor the latest data from the Real Estate Institute of Western Australia (REIWA) to ensure our clients—whether buying, selling, investing, or renting—are armed with the insights needed to make informed financial decisions.

The latest weekly data paints a fascinating picture of the current Perth property climate: a marketplace characterized by a brief cooling in short-term sales velocity, a welcome injection of new listings for buyers, and a rental sector that continues to exhibit tight, highly competitive dynamics. Furthermore, macro-economic factors such as the newly handed-down Federal Budget are poised to influence the market in the coming months.

Here is our deep-dive analysis of what happened in the Perth real estate market over the past week and what it means for you.

The Sales Market: A Temporary Dip in Volume but Choice Extends

According to the latest figures released by REIWA, sales transactions in Perth experienced a notable drop last week, with local members reporting a total of 732 transactions. This represents a 16.7 per cent decline compared to the week before.

When we break this data down by property type, we see a diverse story:

  • Houses: House sales bore a significant portion of the decline, falling by 12.2 per cent week-on-week.
  • Units: Conversely, unit sales remained relatively stable and similar to the previous week’s figures, showcasing the ongoing demand for more affordable, low-maintenance lifestyle options.
  • Land: Vacant land sales experienced the sharpest downturn, plummeting by 58.5 per cent. This dramatic shift often reflects weekly variations in developer releases or a cautious approach from buyers balancing construction timelines and builder availability.

Despite the weekly drop in sales transactions, the good news for active buyers is that choice is beginning to improve. At the conclusion of last week, there were 4,809 properties listed for sale in Perth, which is a 4.5 per cent increase compared to the prior week.

This growth in inventory was driven by a 5 per cent rise in house listings and a 5.6 per cent increase in unit listings, while vacant land listings contracted slightly by 1.4 per cent. Looking at the broader horizon, last week’s total available stock is an impressive 21.3 per cent higher than four weeks ago and, crucially, 1.4 per cent higher than the exact same period last year. While the market remains structurally undersupplied, this incremental increase in listings offers fresh opportunities for buyers who have previously faced intense competition and limited choices.

Suburb Spotlight: Sales Performance

Perth’s outer and inner suburbs continue to display strong micro-market activity. The top-performing suburbs for sales volume last week were:

  • Baldivis (16 sales)
  • Perth (15 sales)
  • Rockingham (13 sales)
  • Aveley (11 sales)
  • Cockburn Central (11 sales)

The diversity of the market was also highlighted by the week’s extreme price points. The highest recorded sale occurred in the premium coastal enclave of Sorrento, commands an impressive $3,362,000. On the other end of the spectrum, the most affordable transaction was a unit in Perth CBD, changing hands for $370,000—proving that opportunities still exist across all budgets.

The Rental Market: Listings Creep Higher, but Supply Constraints Persist

For tenants and property investors, the Perth rental market remains an area of intense focus. REIWA members reported 2,304 properties available for rent at the end of last week. This represents a 2.6 per cent increase on the previous week and a 7 per cent increase compared to four weeks ago.

While this short-term rise in available rentals provides a small sigh of relief for tenants searching for a home, the annual comparison reminds us that the market remains historically tight: current rental listings are still 3.3 per cent lower than they were a year ago.

In terms of actual leasing activity, 621 properties were leased last week. This figure is 3.7 per cent lower than the previous week and 2.5 per cent lower than four weeks ago, indicating that while there are slightly more properties on the market, the matching process or tenant movement has slowed slightly. However, leasing activity is still 3.8 per cent higher than last year, proving that when properties hit the market, they are being absorbed quickly by eager tenants.

Suburb Spotlight: Rental Performance

Demand for rentals remains concentrated in high-amenity and growth corridors. The top-performing suburbs for rental properties leased last week were:

  • East Perth (17 rentals)
  • Baldivis (16 rentals)
  • Scarborough (15 rentals)
  • Perth (11 rentals)
  • Eglinton (10 rentals)

Connecting the Dots: The Influence of the Federal Budget

When analyzing local property data, we cannot ignore the broader economic landscape. The recently handed-down Federal Budget plays a pivotal role in shaping consumer sentiment, borrowing capacity, and long-term supply trends in Western Australia.

In this year’s budget, the federal government has continued its focus on addressing housing supply and affordability across the nation. For Perth, the ongoing commitments to infrastructure funding and targeted housing initiatives are designed to help unlock new land and fast-track residential developments. Furthermore, broad cost-of-living relief measures embedded in the budget—such as energy bill rebates and changes to tax thresholds—are designed to provide breathing room for household budgets.

From a real estate perspective, these cost-of-living reliefs may indirectly support the property market. By easing everyday financial pressures, the budget helps stabilize household incomes, which supports mortgage serviceability and tenant stability. However, with the budget also injecting capital into the economy, the Reserve Bank of Australia (RBA) will be keeping a watchful eye on inflation. For buyers and sellers in Perth, this means that while immediate interest rate relief may not be on the horizon, the underlying economic pillars of WA—underpinned by strong employment and population growth—remain exceptionally robust.

The Holdsworth Real Estate Takeaway

What does all of this mean for you?

  • For Sellers: While weekly sales transaction volumes fluctuated downward, property prices remain strong, as evidenced by premium sales like the $3.36M property in Sorrento. With overall stock levels still low by historical standards, it remains an excellent time to list your property while competition among buyers remains healthy.
  • For Buyers: The 21.3 per cent increase in listings over the last four weeks is the silver lining you have been waiting for. There is more stock on the market today than there was this time last year. Getting pre-approval now will allow you to act swiftly as new properties emerge.
  • For Investors & Landlords: The rental market remains tightly contested. Despite a slight weekly increase in listings, available rental stock is lower than last year, meaning vacancy rates remain low and yields remain highly attractive.

At Holdsworth Real Estate, we pride ourselves on helping you cut through the noise of the headlines. Whether you are curious about the current value of your home in light of recent sales or need assistance managing your investment property in this fast-paced market, our team is always here to help.

Reach out to us today for a confidential discussion about your property goals!