Welcome to your weekly Perth property market wrap-up. This week’s data continues a familiar story: strong demand is competing for a shrinking pool of available properties in both the sales and rental markets.

Let’s dive into the key numbers from last week.

The Sales Market: Listings Tighten Further

While the pace of sales transactions cooled slightly last week, the real headline is the ongoing squeeze on property listings.

REIWA members reported 795 sales transactions, a decrease of 5.9% from the week prior. A closer look reveals a mixed picture: house sales saw a minor dip of 4.6% and land sales dropped 22.4%, while unit sales actually bucked the trend and rose by 1.3%.

However, the critical figure for both buyers and sellers is the number of properties available for sale. That number fell by 1.6% to just 3,239 properties across all of Perth.

This extremely low inventory level highlights the competitive nature of the current market:

  • Total listings are 8.6% lower than four weeks ago.
  • Total listings are 2.2% lower than this time last year.

For sellers, this means less competition and continued high buyer interest. For buyers, it underscores the need to be prepared and act decisively when the right property comes along.

Last Week’s Sales Hotspots

  • Perth (13)
  • Baldivis (12)
  • East Perth (12)
  • Ellenbrook (12)
  • Canning Vale (11)

Price Snapshot

  • Highest Sale Price: $1,700,000 in Bicton
  • Lowest Sale Price: $350,000 in Mandurah

The Rental Market: The Squeeze Continues for Tenants

The situation in Perth’s rental market remains incredibly challenging for tenants, with available stock falling once again.

The number of properties listed for rent at the end of last week dropped by 1.6% to a critically low 2,293. This continues a sharp downward trend, with rental listings now sitting 8% lower than a month ago and 5.5% lower than a year ago.

Despite the low availability, tenant demand remains robust. A total of 703 properties were leased last week. While this is a slight 4% dip from the previous week, it represents a 0.9% increase in leasing activity compared to the same week last year, showing that demand is not slowing down.

This intense competition for rentals continues to put pressure on the market, benefiting landlords with minimal vacancy times and strong returns.

Top Suburbs for Rental Activity

  • Baldivis (23)
  • Perth (15)
  • East Perth (14)
  • Scarborough (12)
  • Mandurah (11)

Our Takeaway

The message from the market is clear: supply is not keeping up with demand.

Whether you are looking to buy or rent, the environment is competitive. For homeowners thinking of selling, these conditions present a fantastic opportunity to achieve a strong result. For investors, the rental market continues to demonstrate its strength.

If you’re considering your next property move, expert advice is more valuable than ever. Contact our team today for a confidential discussion about how we can help you navigate the current market and achieve your property goals.