Sales Activity Remains Strong

The Perth real estate market continues to show signs of resilience, with sales transactions increasing by 3.7% last week compared to the previous week. This growth was primarily driven by a surge in house sales, which saw a 13.3% increase. While unit sales experienced a decline of 21.2%, land sales remained robust, up 14%.

Top-Performing Suburbs

  • Sales: Rivervale, Baldivis, Ellenbrook, Armadale, and Como led the way in terms of sales activity.
  • Rentals: Perth, East Perth, Baldivis, Yanchep, and Rockingham were the most sought-after rental suburbs.

Market Dynamics

  • Inventory: The number of properties available for sale increased slightly by 3.6%, mainly due to a rise in house listings. However, this figure remains 5.2% lower than levels seen a year ago.
  • Rentals: The rental market saw a slight decrease in listings, but remains 14.5% higher than a year ago.

Key Takeaways

  • Strong sales activity continues to underpin the Perth market.
  • House sales are driving the overall growth.
  • Rental demand remains steady, with a slight increase in listings compared to a year ago.

Overall, the Perth real estate market is demonstrating a healthy balance between supply and demand. While there are some fluctuations in certain segments, the overall trend remains positive.

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