Welcome to the latest market update from Holdsworth Real Estate. The Perth property landscape continues to move at a breakneck pace, and this past week provided some of the most dynamic data we’ve seen so far this year. Whether you are looking to sell, buy, or manage an investment property, understanding these local shifts is crucial to making informed decisions.
Last week, the Perth market showed significant signs of renewed energy. Overall sales transactions across the metropolitan area jumped by 15.8% compared to the previous week, with REIWA members reporting a total of 490 transactions.
Below, we break down what these numbers mean for you and how the current supply levels are shaping the journey for Western Australian homeowners.
A Tale of Two Sectors: Houses and Units Lead the Charge
The headline growth in sales was driven primarily by a massive spike in the residential house sector. House sales surged by 30.5% week-on-week, indicating that family homes remain the most sought-after commodity in the West.
The unit market also held strong, recording a 15.2% increase in activity. This suggests that “lock-up-and-leave” lifestyles and entry-level price points are continuing to attract significant buyer interest. Interestingly, land sales bucked the trend, dropping by 43.1%. This decline often reflects a shift in buyer preference toward established homes rather than the longer timelines currently associated with building.
Where is the activity happening? The top-performing suburbs for sales last week represent a diverse cross-section of the Perth market:
- Mandurah: 11 sales
- Armadale: 9 sales
- Perth City: 9 sales
- Aveley: 7 sales
- Dianella: 7 sales
The price spectrum was equally broad. We saw a prestige sale in Claremont reaching $7,000,000, highlighting the resilience of the luxury market. Meanwhile, the most accessible entry point was found in Perth with a sale price of $575,500.
Is the Inventory “Crunch” Finally Easing?
For months, the main talking point in Perth real estate has been the lack of stock. However, last week provided a glimmer of hope for frustrated buyers.
There were 2,427 properties for sale at the end of the week—a significant 16.5% increase in listings compared to the week prior. This influx was seen across all categories:
- House listings: Up 16.9%
- Unit listings: Up 23.1%
- Vacant land listings: Up 5.6%
While this “surge” in listings is a welcome relief and is 8.3% higher than it was four weeks ago, it is vital to keep things in perspective. Total inventory levels are still 49.2% lower than they were this time last year. We are still firmly in a seller’s market, but the recent uptick in listings offers more choice for those currently searching for their next home.
The Rental Market: A Spike in Availability and Activity
The rental sector also saw a flurry of movement last week. Rental listings rose to 2,231 properties, marking a 24.1% increase from the previous week. While this is a sharp weekly jump, the broader trend shows that supply remains tight, with listings still 4.9% lower than this time last year.
Rental Activity Highlights:
- Properties Leased: 758 (A huge 51.3% increase over the previous week).
- High-Demand Areas: East Perth (22 leases), Perth (21), Baldivis (17), and Subiaco (17) led the way.
The massive increase in the number of properties leased suggests that while more stock is hitting the market, it is being snapped up almost instantly. Tenants are moving quickly, and landlords are seeing very short vacancy periods.
What Does This Mean For You?
- For Sellers: High transaction volumes and a nearly 50% decrease in stock compared to last year mean your property is likely to attract significant competition. However, with listings starting to rise, now is the time to ensure your home is presented perfectly to stand out.
- For Buyers: The 16.5% increase in listings is the best news you’ve had in weeks. It’s an opportunity to view more properties, but with 758 properties leased and nearly 500 sold in seven days, you must have your finances ready to act fast.
- For Investors: Rental demand remains incredibly high, particularly in urban hubs like East Perth and Subiaco.
At Holdsworth Real Estate, we live and breathe the Perth market. If you’re curious about how these city-wide statistics translate to the value of your specific home or suburb, we’d love to help.
