Welcome to your weekly breakdown of the Perth real estate market! This week, we’ve seen a significant jump in market activity, with both sales transactions and the number of properties for sale on the rise.

Here’s a closer look at the numbers from last week.

📈 Sales Market Heats Up

It was a busy week for sales agents across Perth, with the latest data from REIWA showing total transactions climbing 6.4% to 903 sales.

The most significant driver of this growth was land sales, which skyrocketed by 55.8%. We also saw steady growth in other sectors, with house sales increasing by 3.4% and unit sales up 2.1%.

Top Performing Suburbs (Sales):

  • Baldivis: 18 transactions
  • Perth: 17 transactions
  • Subiaco: 14 transactions
  • Como: 10 transactions
  • Rivervale: 10 transactions

The market showcased its diversity with a wide range of price points. The highest sale recorded last week was a $6,650,000 property in Nedlands, while the most accessible was a $450,000 property in Mandurah.

🏡 Properties For Sale: More Choice for Buyers

Buyers will be pleased to see more properties hitting the market. The total number of listings in Perth increased by 3.5% last week to 2,930.

This increase was seen across the board:

  • House listings: Up 4.1%
  • Unit listings: Up 1.1%
  • Land listings: Up 4.1%

While this provides more immediate choice for buyers, it’s important to keep the long-term context in mind. The current number of listings is 40.6% lower than what we saw at the same time last year, highlighting the ongoing low-stock environment.

leasing market update

In the rental sector, stock tightened slightly with 2,178 properties available for rent, a 2.9% decrease from the previous week. However, compared to one year ago, total rental listings are up 13.7%, good news for tenants.

Activity remained strong, with 666 properties leased—a 4.7% increase on the week prior and 10.4% higher than a year ago.

Top Performing Suburbs (Rentals):

  • Baldivis: 24 leases
  • Como: 15 leases
  • East Perth: 14 leases
  • Alkimos: 13 leases
  • Mandurah: 12 leases

What This Means For You

Whether you’re buying, selling, or investing, these numbers show that the Perth market remains dynamic. The increase in sales transactions, coupled with a rise in new listings, points to a confident and active start to the month.

Thinking of making a move? Our team is here to help you navigate the current market conditions. Get in touch today for a no-obligation appraisal or a chat about your property goals.