Welcome to your weekly Perth property market update. We’re analysing the latest figures to give you a clear snapshot of what’s happening in both the sales and rental sectors.
This past week, the market saw a steady increase in sales activity, with total transactions climbing 1.2% to 921 according to REIWA. While house sales held steady, the real movement was in land and unit sales, demonstrating sustained buyer confidence across different segments of the market.
Here’s a detailed breakdown.
📈 The Sales Market
Overall sales volume was healthy, but the most significant jump was in land sales, which surged by 14%—a strong indicator of future building and development activity.
- House Sales: Remained stable compared to the week prior.
- Unit Sales: Increased by 1.7%.
- Land Sales: Jumped by 14.0%.
This Week’s Sales Hotspots
Activity was strong across a diverse range of suburbs:
- Baldivis: 17 sales
- Rockingham: 14 sales
- Fremantle: 13 sales
- Subiaco: 13 sales
- East Perth: 12 sales
Weekly Price Snapshot
- Highest Sale Price: $2,950,000 in Nedlands
- Lowest Sale Price: $351,000 in West Perth
🏡 Properties for Sale: The Big Picture
For buyers, there was a small amount of welcome relief as the total number of properties for sale increased by 2.5% to 2,942. This was driven by a 3.9% rise in house listings and a 3.6% rise in unit listings.
However, the bigger story remains the long-term supply. Total listings are still down a staggering 43.4% compared to the same time last year.
This low-inventory environment continues to be the defining feature of the Perth market, creating strong competition among buyers and putting upward pressure on values.
🔑 The Rental Market
Activity in the rental sector remains high. While the number of properties leased last week (624) was down from the previous week, the broader trend shows persistent demand.
Leasing activity is up 9.9% compared to one year ago.
On the supply side, the number of properties available for rent rose slightly by 1.7% to 2,102. Despite this small weekly increase, the rental pool is 6.4% smaller than it was just four weeks ago, keeping the market extremely tight for tenants.
Top Suburbs for Rentals
- Perth: 22 properties leased
- Baldivis: 18 properties leased
- Rivervale: 13 properties leased
- Rockingham: 12 properties leased
- East Perth: 11 properties leased
What This Means For You
- For Sellers: The data continues to highlight a seller’s market. Historically low inventory and steady buyer demand create ideal conditions for achieving a premium result.
- For Buyers: The slight increase in new listings is positive, but competition remains high. Being pre-approved and ready to act decisively is crucial for success.
- For Landlords: Strong leasing demand and a tight supply of rental properties underscore a positive environment for investors, with minimal vacancy periods.
Whether you’re looking to sell, buy, or lease, navigating this fast-moving market requires expert advice. Contact our team today for a confidential discussion about your property goals.
