Sales Transactions Surge
The Perth property market saw a significant boost in activity last week, with sales transactions up by an impressive 12.9% compared to the previous week. REIWA members reported a total of 1,024 transactions, indicating a strong level of buyer interest.
Key Sales Highlights:
- House sales: Increased by 9.1%
- Unit sales: Showed a strong surge of 24.6%
- Land sales: Rose by 14.3%
Top Performing Suburbs for Sales:
Como and Baldivis led the way with 18 sales each, followed by Perth (17), Maylands (16), and Bayswater (15).
Notable Sales:
- Highest sale price: A property in Dalkeith fetched an impressive $3,780,000.
- Lowest sale price: A property in Rockingham sold for $289,000.
Properties for Sale
The number of properties for sale in Perth increased slightly last week, reaching 4,996. This represents a 1.4% rise compared to the previous week and a 16.7% increase compared to four weeks ago. Interestingly, this figure is also 3% higher than the same time last year.
Rental Market Update
The rental market also saw an increase in available properties, with 1,941 properties listed for rent. This is a 1.4% increase from the previous week, although it’s worth noting that rental listings are down 4.1% compared to four weeks ago and up 11.6% year-on-year.
Top Performing Suburbs for Rentals:
Baldivis topped the list with 23 rental listings, followed by Perth (20), East Perth (17), and Rivervale and Victoria Park with 10 each.
Leasing Activity
Despite the increase in rental listings, the number of leased properties decreased slightly last week. REIWA members reported 601 properties leased, down 1.3% from the previous week.
Overall, the Perth property market continues to show signs of healthy activity, with strong sales transactions and a steady increase in available properties. While rental leasing activity dipped slightly, the rental market remains relatively tight.
Stay tuned for further market updates and insights!