Welcome back! We hope you enjoyed a refreshing Easter long weekend filled with family, friends, and perhaps a few too many chocolate eggs. As Perth settles back into its rhythm after the holiday break, the property market naturally shows some signs of the quieter period, but the underlying trends continue to reveal interesting dynamics for buyers, sellers, landlords, and tenants alike.

Here at Holdsworth Real Estate, we keep our finger firmly on the pulse of the Perth market. Let’s dive into the latest figures reported by REIWA members for the week ending April 20th, 2025, and unpack what they mean for you.

Sales Activity: A Holiday Breather

It’s typical to see a slight dip in market activity immediately following a long weekend, and this past week was no exception. Overall sales transactions saw a modest decrease of 5 per cent compared to the previous week, with 891 properties changing hands across the metropolitan area.

• Houses: House sales experienced a slight softening, down 3.4 per cent week-on-week. This minor dip likely reflects buyers and sellers taking a pause over the Easter break rather than a significant shift in demand. The fundamental drivers for house purchases – lifestyle changes, growing families, seeking more space – remain strong in the Perth market.
• Units: Interestingly, the unit market bucked the overall trend, showing resilience with a 7.8 per cent increase in sales compared to the week prior. This suggests continued, perhaps growing, interest in apartments, townhouses, and villas. Factors like affordability, lower maintenance lifestyles, and proximity to urban hubs or transport links often drive demand in this sector, and it appears these factors remained compelling even during the holiday period.
• Land: Vacant land sales saw the most significant adjustment, dropping by 44.7 per cent. This volatility isn’t unusual for land sales, which can fluctuate more dramatically week-to-week based on specific land releases or individual high-value transactions (or lack thereof). The Easter break likely amplified this effect, with fewer buyers actively finalising land purchases.

Where Was the Action? Top Selling Suburbs

Despite the overall dip, certain suburbs remained popular transaction hubs:

1. Perth (CBD): 16 sales – Inner-city living continues to attract buyers seeking convenience and vibrancy.
2. Baldivis: 14 sales – Popular for its family-friendly amenities and relative affordability.
3. Cockburn Central: 14 sales – A key activity centre with strong transport links and established infrastructure.
4. Scarborough: 14 sales – Coastal lifestyle appeal remains a powerful drawcard.
5. East Perth: 12 sales – Blending riverside living with proximity to the CBD.

The breadth of the market was also evident, with the highest recorded sale fetching $3,250,000 in the premium riverside suburb of Mount Pleasant, while the most accessible sale occurred in Mandurah at $110,000, showcasing the diverse opportunities available across Greater Perth.

Listings Landscape: Inventory Levels Shift

The total number of properties available for sale in Perth saw a noticeable decrease last week, settling at 4,628. This represents a 7.2 per cent drop compared to the previous week.

• Houses & Units: Both established dwelling types saw fewer listings, with house listings down 9.1 per cent and unit listings down 7.7 per cent. This suggests fewer new properties came onto the market over the Easter period, and potentially, properties continued to sell relatively quickly, further reducing available stock.
• Vacant Land: Conversely, listings for vacant land saw a slight increase of 2.3 per cent.

Looking at the bigger picture provides crucial context. While weekly stock levels dipped, the total number of properties for sale is still significantly higher (21.2 per cent) than it was this time last year. Compared to four weeks ago, however, current stock levels are down 9.9 per cent.

• What this means for Sellers: While the year-on-year increase suggests more competition than in early 2024, the recent tightening of stock (weekly and monthly dips) indicates that well-presented and correctly priced properties are still attracting strong buyer interest. The post-Easter period could see a return of more buyers to the market, potentially meeting slightly constrained supply.
• What this means for Buyers: Although there’s more choice than a year ago, the recent drop in available listings reinforces the need to act decisively when you find the right property. Pre-approved finance remains essential to be competitive.

Perth’s Rental Market: Stability Amidst Tight Conditions

The rental market remains a critical focus for many Perth residents. At the end of last week, there were 2,245 properties available for rent, marking a very slight decrease of 0.8 per cent from the week prior.

While this weekly change is minimal, it’s worth noting that current rental stock is 4.4 per cent higher than four weeks ago and 8 per cent higher than this time last year. This indicates a slight easing in the extreme tightness experienced previously, although conditions remain challenging for tenants overall.

Leasing Activity & Top Rental Suburbs

REIWA members reported 584 properties leased last week. Similar to the sales market, this figure reflects a post-holiday slowdown, down 14.5 per cent compared to the previous week. It’s also lower than leasing activity levels seen four weeks ago (-10.8 per cent) and one year ago (-7.2 per cent). This dip in leasing volume, especially year-on-year, warrants watching in the coming weeks to see if it’s purely a holiday blip or indicates a subtle shift.

Demand remained concentrated in several key areas:

1. Perth (CBD): 18 leases
2. East Perth: 16 leases
3. Alkimos: 13 leases
4. Baldivis: 11 leases
5. Dianella: 11 leases

These suburbs offer a mix of lifestyle, transport, and relative affordability, making them attractive options for renters.

• What this means for Landlords: While leasing activity dipped last week (likely due to Easter), the overall low vacancy rates and slight year-on-year increase in available stock suggest a relatively stable environment. Ensuring your property is well-maintained and competitively priced remains key to attracting quality tenants quickly.
• What this means for Tenants: While the number of available properties is slightly higher than last year, the market is still competitive. Be prepared with your applications, attend viewings promptly, and consider areas slightly further out if your preferred suburbs are proving difficult.

Looking Ahead

The Easter long weekend provided a brief pause in market momentum, reflected particularly in the weekly sales and leasing figures. However, the underlying story remains one of constrained supply relative to demand in many segments, particularly for established houses. The unit market continues to show strength, and while rental availability has slightly improved year-on-year, it remains tight.

As we move further into April and towards May, we’ll be watching closely to see how activity levels rebound. Will the dip in listings persist, or will we see a post-holiday surge? How will buyer and tenant demand respond?

Need Personalised Advice?

Market statistics provide a valuable overview, but your property journey is unique. Whether you’re considering selling your home, searching for your next purchase, looking for the right investment property, or navigating the rental market, tailored advice is crucial.

Our experienced team at Holdsworth Real Estate understands the nuances of the Perth market down to the suburb level. We combine this market intelligence with a deep understanding of your individual goals to help you achieve the best possible outcome.

Contact us today for a no-obligation chat about how we can help you navigate the current Perth property market.