The Perth real estate market is showing incredible momentum, with last week’s figures painting a very positive picture for both buyers and sellers! We’re seeing a significant surge in activity, making it a great time to consider your real estate options in our vibrant city.
Sales Activity Explodes!
Get this – sales transactions in Perth jumped a whopping 97% last week! That translates to 593 properties changing hands, according to REIWA members. This surge was driven by strong growth across all property types:
- Houses: Sales up a massive 90.5%
- Units: Sales saw a near doubling, increasing by 94.4%
- Land: The biggest leap of all, with sales skyrocketing by 175%
Hot Suburbs to Watch:
Several suburbs are experiencing particularly high demand. Here are some of the top performers in terms of sales volume:
- Baldivis: Leading the pack with 22 sales!
- Como: A strong contender with 10 sales.
- Forrestfield: Close behind with 9 sales.
- Ellenbrook & Rivervale: Tied with 8 sales each.
From High-End to Affordable:
Perth offers a diverse range of properties to suit every budget. Last week saw a Cottesloe property fetch a cool $5,300,000, while a more affordable option in Como sold for $265,000.
Increased Listings Offer More Choice:
The good news for buyers is that the number of properties available for sale is also on the rise. At the end of last week, there were 4,536 properties listed in Perth, a 5.3% increase from the previous week. This is due to rising listings in houses and units, up 6.3% and 6.4% respectively. While the listings have increased, we are still 15% lower than four weeks ago, indicating that there are still plenty of opportunities for buyers to move quickly.
Rental Market Showing Strong Growth
Perth’s rental market also saw a lot of activity last week. Listings are up 18.5% on the previous week, with 2,291 properties available for rent. REIWA members reported 601 properties leased, an incredible 146.3% increase! Here are some of the suburbs showing the highest rental activity:
- Perth: 18 properties leased.
- Alkimos: 17 properties leased.
- Baldivis: 15 properties leased.
- Rivervale: 12 properties leased.
- Byford: 11 properties leased.
What Does This Mean For You?
This surge in activity signifies a robust and dynamic Perth real estate market. Whether you’re looking to buy, sell, or rent, now is an excellent time to explore your options.
Thinking of buying or selling? Our team of expert agents are ready to provide you with personalized advice and guidance. Contact us today for a free market appraisal or to discuss your property needs!
Disclaimer: This information is based on data provided by REIWA. While we strive for accuracy, market conditions can change rapidly. We recommend seeking professional advice for specific real estate decisions.