Sales Activity
Sales transactions in Perth last week ending 29/09/2024 saw a slight decline of 0.9% compared to the previous week, with REIWA members reporting 811 transactions. While house sales remained relatively steady, unit sales dropped by 13.4%, and land sales saw a significant increase of 27.3%.
The top-performing suburbs for sales last week were:
- Baldivis
- East Perth
- Ellenbrook
- Maylands
- Byford
The highest sale price recorded in Perth was in Applecross at $6,200,000, while the lowest sale price was found in Fremantle at $340,000.
Property Listings
At the end of last week, there were 4,054 properties for sale in Perth, representing a 1.2% increase from the previous week. This rise was primarily driven by a 1.2% increase in house listings and a 2% increase in unit listings. Listings for vacant land remained unchanged.
Compared to four weeks ago, the total number of properties available for sale is 11.5% higher. However, it’s still 17.2% lower than levels seen a year ago.
Rental Market
The rental market in Perth saw a slight increase of 2.8% in listings at the end of last week, with REIWA members reporting 2,088 properties available for rent. This figure is 4.7% lower than four weeks ago but 24.4% higher than a year ago.
The top-performing suburbs for rentals were:
- Baldivis
- Perth
- East Perth
- South Perth
- Rivervale
In terms of leases, REIWA members reported 514 properties leased last week, a significant decrease of 18.4% compared to the previous week and 24.5% lower than four weeks ago. However, it’s still 7.5% higher than a year ago.