Welcome back to the Holdsworth Real Estate weekly market wrap. It’s been an action-packed start to the year, and if last week’s data is any indication, the Perth property market is shaking off the holiday slumber with remarkable speed.
Whether you are looking to sell your family home, secure an investment property, or find a new rental, the latest figures from REIWA paint a picture of a market that is evolving rapidly. Let’s dive into the numbers and what they mean for you.
Sales Activity: Houses Lead the Charge
The headline for the week is a significant jump in activity. Sales transactions across the Perth metropolitan area surged by 15.8%, with a total of 490 transactions reported.
What’s particularly interesting is the composition of those sales. While the overall figure is healthy, detached houses were the star performers, seeing a massive 30.5% increase in sales volume compared to the week prior. Units also saw a solid uptick of 15.2%.
Conversely, land sales took a breather, dropping by 43.1%. This suggests that buyers are currently prioritizing established homes over the “build-it-yourself” route, likely driven by the desire for immediate occupancy and a clearer understanding of final costs in the current economic climate.
Where is the heat? The suburbs showing the most movement last week represent a diverse mix of lifestyle and affordability:
- Mandurah: 11 sales
- Armadale: 9 sales
- Perth City: 9 sales
- Aveley: 7 sales
- Dianella: 7 sales
The price gap remains vast, highlighting the diversity of the Perth market. We saw a stunning top sale of $7,000,000 in Claremont, while the more accessible end of the market saw a entry-point sale of $575,500 in Perth.
Inventory Levels: A Welcome Increase in Choice
For months, the primary frustration for buyers has been the lack of “stock on shelves.” However, last week provided some much-needed relief. At the end of the week, there were 2,427 properties for sale, marking a 16.5% increase in listings compared to the week prior.
The Breakdown: House listings rose by 16.9%, units by 23.1%, and vacant land by 5.6%.
While it’s encouraging to see more properties hitting the market (up 8.3% from four weeks ago), we have to keep things in perspective. Our current inventory is still 49.2% lower than it was this time last year. We are still very much in a “seller’s market,” but the recent influx of listings means buyers have slightly more leverage and choice than they did in December.
The Rental Market: A Surge in Listings and Leases
The rental sector is also experiencing a significant shift. Last week, rental listings jumped a substantial 24.1%, bringing the total available properties to 2,231.
Perhaps most impressive was the leasing activity. REIWA members reported 758 properties leased, a staggering 51.3% increase over the previous week. This suggests that while more stock is becoming available, the demand remains incredibly high, with tenants moving quickly to secure homes as soon as they become available.
Hot Rental Suburbs:
- East Perth: 22 properties leased
- Perth: 21 properties leased
- Baldivis & Subiaco: 17 properties leased each
- Mandurah: 12 properties leased
Despite the weekly jump, rental stock is still 4.9% lower than a year ago. The market remains tight, and competition for quality rentals continues to be fierce.
What Does This Mean for You?
For Sellers: The 30.5% jump in house sales shows that buyer appetite is ravenous. However, with listing numbers starting to climb (up 16.5% in a week), the “scarcity factor” may soften slightly. If you’ve been waiting for the right moment to list, the current combination of high demand and still-low annual stock levels creates a very favorable window.
For Buyers: The increase in listings is the best news you’ve had in months. More units and houses are entering the market, giving you a chance to be more selective. However, with sales transactions also rising, the pace of the market remains fast. Preparation is key—have your finance ready to go.
For Investors: With leasing activity up over 50% in a single week, the “velocity” of the rental market is high. Properties are not sitting vacant for long. With listing levels still below last year’s figures, yield remains strong, particularly in high-demand pockets like East Perth and the southern corridor.
Stay Ahead of the Market
At Holdsworth Real Estate, we live and breathe the Perth property market. These stats provide a great “birds-eye view,” but real estate is always local.
Contact us today to find out what your property is worth!
