Welcome to your weekly Perth property market update! This week’s data shows a familiar and powerful story: strong buyer confidence continues to drive sales, while the low supply of available properties is making it a prime time for sellers.

Let’s dive into the details from last week.

📈 Sales Market Heats Up

We saw another busy week across Perth, with data from REIWA showing total sales transactions climbing 2.1% to 918 sales.

This growth was fueled by strong demand for houses and land:

  • House sales: Jumped by 3.8%
  • Land sales: Surged by 7.4%
  • Unit sales: Saw a slight pullback, down 5.7%

This activity shows that buyers are actively competing for traditional homes and new-build opportunities.

This Week’s Top-Performing Sales Suburbs:

  • Baldivis (17 sales)
  • Alkimos (13 sales)
  • Canning Vale (13 sales)
  • Mount Lawley (12 sales)
  • Yokine (12 sales)

The market showed its full range last week, from a premium $4,355,000 sale in North Beach to an accessible $415,000 sale in Armadale.

📉 The Big Story: Stock Levels Continue to Tighten

The most significant factor influencing the market right now is the historically low number of properties for sale.

Total listings in Perth dropped again last week, falling another 2.1% to just 2,869 properties. This was led by a significant 11.1% decrease in available land.

To put this in perspective:

The total number of properties for sale is a staggering 42.6% lower than the same time last year.

What This Means for You:

  • For Sellers: This is a classic “seller’s market.” With 42.6% less competition than a year ago and strong buyer demand, properties are selling quickly and often attracting multiple offers. If you have been thinking of selling, there has rarely been a better time to achieve a premium price.
  • For Buyers: The market is competitive. It’s crucial to have your finances in order and be ready to act decisively when you find the right property.

🏘️ The Rental Market: High Demand & Fast Leasing

Perth’s rental market is telling a similar story of high demand and low supply.

The number of available rentals fell by 5.1% last week to just 2,067 properties.

While stock is low, the number of properties leased surged. Last week, 707 properties were leased, which is:

  • 6.5% higher than the previous week
  • 19% higher than the same time last year

This data shows that rental properties are being snapped up by tenants at an incredible pace.

This Week’s Top-Performing Rental Suburbs:

  • Perth (22 leases)
  • Alkimos (17 leases)
  • Baldivis (14 leases)
  • East Perth (13 leases)
  • Armadale (11 leases)

Our Takeaway

These figures paint a clear picture: it’s a fast-paced market defined by strong buyer and tenant demand competing for a limited supply of properties.

Navigating these conditions requires expert advice, whether you’re selling, buying, or managing an investment.

Thinking of selling? Curious what your home is worth in this strong market? Contact our team today for a confidential, obligation-free appraisal.