Sales Activity
Sales transactions in Perth saw a slight increase last week, rising 1% from the previous week. REIWA members reported a total of 914 transactions.
- House sales: Dipped 2.1% compared to the week prior.
- Unit sales: Showed positive momentum, increasing by 4.7%.
- Land sales: Experienced the most significant growth, surging by 28.6%.
Top Performing Suburbs for Sales:
Perth, Baldivis, and Dianella led the pack with 13 or more sales each. Rivervale and Scarborough also showed strong activity with 12 sales each.
Notable Sales:
- Highest sale price: A property in West Leederville fetched an impressive $2,200,000.
- Lowest sale price: A property in South Perth sold for $399,000.
Properties for Sale
The number of properties for sale in Perth climbed to 4,929 last week, a 3.7% increase from the previous week. This rise was fueled by increases in house, unit, and land listings.
Year-on-Year Comparison:
Interestingly, while listings are up week-on-week, they remain 2% lower than the same time last year.
Rental Market Overview
The rental market showed signs of tightening, with 1,915 properties for rent in Perth at the end of last week – a 2% decrease from the previous week.
Top Performing Suburbs for Rentals:
Baldivis, East Perth, and Perth were popular among renters, with Baldivis leading with 21 leases.
Leasing Activity:
REIWA members reported 614 properties leased last week, indicating a healthy rental market with activity exceeding the levels seen both four weeks ago and a year ago.
Key Takeaways:
- The Perth property market continues to show resilience with a slight increase in sales transactions.
- The rise in listings provides more choice for buyers, although stock levels are still below last year.
- The rental market remains competitive, with strong leasing activity and decreasing rental stock.
Stay tuned for further market updates and insights!