Welcome to your weekly Perth property market update, brought to you by Holdsworth Real Estate! We’re here to provide you with the latest insights and trends to help you navigate the dynamic Perth real estate landscape.

Sales Market Sees Positive Growth

Last week saw a healthy increase in sales transactions across Perth, with REIWA members reporting 942 sales, a 2.7% jump compared to the previous week. This indicates a continued strong demand for Perth properties.

• House Sales: Up by 2.2%, demonstrating consistent interest in family homes.
• Unit Sales: A significant increase of 6.7%, suggesting growing appeal for apartment living.
• Land Sales: A slight decrease of 3.9%, which could indicate fluctuating demand in this sector.

Top Performing Sales Suburbs

• East Perth: 15 sales
• Como: 14 sales
• Perth: 14 sales
• Dianella: 13 sales
• Gosnells: 12 sales

These suburbs showcase diverse market activity, from inner-city living to established family areas.

Notable Sales

• Highest Sale Price: A prestigious property in Shelley sold for $2,800,000, highlighting the strength of Perth’s premium market.
• Lowest Sale Price: A property in Maylands sold for $325,000, demonstrating affordability within the Perth market.

Property Listings on the Rise

The total number of properties for sale in Perth reached 5,088 at the end of last week, marking a 1.1% increase from the previous week.

• House listings: Up by 0.7%
• Unit listings: Up by 1.2%
• Vacant land listings: Up by 3.1%

This increase in listings is a significant trend, with a 6.2% rise over the past four weeks and a substantial 24.1% increase compared to a year ago. This increase in supply gives buyers more choices.

Rental Market: Listings Dip, Leasing Activity Adjusts

In the rental market, 2,024 properties were available for rent, representing a 1.5% decrease from the previous week.

• This figure is also 8.8% lower than four weeks ago, indicating tightening rental availability.
• Year over year rental listings are up 16.8%
• 707 properties were leased last week, a 3.7% decrease from the previous week, and a 11.5% decrease from 4 weeks prior. However rental leases are up 19.8% year over year.

Top Performing Rental Suburbs

• Perth: 29 rentals
• East Perth: 20 rentals
• Rivervale: 16 rentals
• Baldivis: 15 rentals
• Wellard: 13 rentals

These suburbs remain popular for renters, offering a range of lifestyle options.

What This Means for You

• Buyers: Increased listings provide more options, but strong sales activity suggests competitive conditions remain.
• Sellers: The rising number of listings means it’s crucial to present your property effectively to stand out. Contact Holdsworth Real Estate for expert advice on maximising your property’s appeal.
• Renters: Rental availability is tightening, so act quickly when you find a suitable property.
• Investors: Stay informed about market trends and consider the long-term growth potential of Perth’s real estate market.

Holdsworth Real Estate: Your Trusted Perth Property Partner

At Holdsworth Real Estate, we’re dedicated to providing you with accurate and up-to-date market information. Whether you’re buying, selling, or renting, our experienced team is here to guide you through the process. Contact us today!

Stay tuned for our next market update!