Stay informed with the latest insights from Perth’s dynamic property market. Here’s a snapshot of the activity reported by REIWA members for the past week:

Sales Market Snapshot

• Overall Activity: Sales transactions saw a slight dip last week, totalling 944, which is a 3.8% decrease compared to the previous week.
• Sales Mix:
  • House sales decreased moderately by 3.4%.
  • Unit sales experienced a larger drop of 18%.
  • Conversely, land sales showed significant buyer interest, increasing by a substantial 45.8%.
• Listings: The total number of properties available for sale eased slightly to 4,986, down 1.8% from the prior week.
  • This was mainly driven by a 3.1% decrease in house listings.
  • Unit listings saw a small increase of 0.8%.
  • Vacant land listings remained stable.
• Listing Trends: While weekly listings are down slightly (1.2% lower than four weeks ago), prospective buyers have significantly more choice than this time last year, with total listings up 34.2% compared to 12 months ago.
• Price Spectrum: Last week saw a wide range of sale prices, highlighted by:
  • Highest Sale: $4,150,000 in Carine
  • Lowest Sale: $430,000 in Bellevue

Rental Market Snapshot

• Available Rentals: The number of properties available for rent increased slightly to 2,263, up 1.1% from the previous week.
• Rental Listing Trends: Compared to recent periods, there’s slightly more rental stock available – listings are 6.2% higher than four weeks ago and 10.7% higher than this time last year.
• Leasing Activity: Demand remains strong, with 684 properties leased last week. This represents a significant increase of 10.1% compared to the previous week, 10% higher than four weeks ago, and 10.3% higher than a year ago.

Hotspot Suburbs Last Week

• Top 5 Suburbs for Sales Transactions:
  1. Scarborough (20)
  2. Baldivis (18)
  3. Perth (14)
  4. East Perth (13)
  5. Gosnells (12)
• Top 5 Suburbs for Rental Activity (Leased):
  1. Perth (29)
  2. East Perth (21)
  3. Baldivis (19)
  4. Rivervale (13)
  5. Armadale (12)

What This Means For You

The Perth market continues to show distinct trends across different property types. While overall sales moderated slightly last week, the surge in land sales indicates ongoing confidence and development interest. For buyers, the year-on-year increase in listings offers more choice than seen previously, although quality properties still move quickly.

In the rental sector, while listing numbers have edged up slightly, the strong leasing activity highlights persistent tenant demand.

Thinking of buying, selling, or leasing? Understanding these market movements is key. Contact Holdsworth Real Estate today for expert advice tailored to your specific property goals in the current Perth market.