If you’ve been keeping an eye on the Perth property market lately, you know it feels a bit like a high-stakes game of musical chairs. The music is playing, everyone is moving, but the chairs—or in this case, the houses—are getting harder and harder to find.
At Holdsworth Real Estate, we believe that data is the best antidote to uncertainty. Last week’s numbers from the Real Estate Institute of Western Australia (REIWA) show a market that is simultaneously cooling in volume but remaining incredibly heated in demand. Whether you are looking to sell your family home, secure an investment, or finally find that perfect rental, here is everything you need to know about the current state of play in Perth.
The Sales Snapshot: Volume vs. Velocity
Last week, Perth saw a total of 764 transactions, representing a 10.2% dip compared to the previous week. While a double-digit drop in sales might sound like a cause for concern, a look under the hood tells a more nuanced story.
The breakdown of these sales reveals where the movement is happening:
- House Sales: Down 13.5%
- Unit Sales: Down 2.5%
- Land Sales: Up 3.4%
The significant drop in house sales isn’t necessarily a sign of waning buyer interest. In fact, it’s quite the opposite. We are seeing a “stock-starved” market. You can’t buy what isn’t there, and with house listings continuing to slide, the total transaction volume is naturally being throttled by a lack of inventory rather than a lack of eager buyers.
Where is the Action?
Despite the overall dip, several suburbs are punching well above their weight. Baldivis continues its reign as a volume powerhouse, leading the pack with 16 sales. This outer-metro gem remains a magnet for families and investors alike, offering a blend of lifestyle and affordability that is hard to beat.
Top Performing Sales Suburbs:
| Suburb | Sales Last Week |
| Baldivis | 16 |
| Ellenbrook | 12 |
| Morley | 12 |
| Perth (CBD) | 10 |
| Scarborough | 10 |
On the pricing spectrum, we saw the full breadth of the Perth market last week. At the pinnacle, a stunning property in Peppermint Grove changed hands for $7,000,000. On the more accessible end of the scale, Fremantle recorded the lowest sale price of the week at $460,000—proving that while the median is rising, there are still entry points for savvy buyers if they move fast.
The Inventory Crunch: A 35% Year-on-Year Gap
The most telling statistic from last week is the total number of properties for sale: 3,279. This is 2.3% lower than the previous week.
To put that in perspective, our current stock levels are a staggering 35.4% lower than they were this time last year. While listings are actually 14.4% higher than they were just four weeks ago (indicating a small seasonal spring/autumn surge), we are still operating in a historically tight environment.
Interestingly, while house and unit listings both fell (down 3.9% and 4.6% respectively), vacant land listings jumped by 14.2%. This suggests that some owners are looking to capitalize on the building boom by offloading blocks, providing a slight glimmer of hope for those looking to build their dream home from the ground up.
The Rental Market: A Tiny Breather?
For tenants, the news is a mixed bag. There were 1,948 properties for rent at the end of last week, which is a 3.8% increase on the week prior.
Expert Insight: While any increase in rental listings is welcomed, we must remain realistic. Current rental stock is still 13% lower than a year ago. The slight uptick we are seeing now is a minor fluctuation in what remains an incredibly competitive landscape.
Top Suburbs for Rental Availability:
- Baldivis: 15
- Joondalup: 9
- South Perth: 9
- Como: 8
- East Perth: 8
The most dramatic shift in the rental sector was the leasing activity itself. Only 490 properties were leased last week—a 21.1% drop from the week before and 20.1% lower than the same time last year. This suggests that while there are a few more properties hitting the market, the “churn” has slowed down, likely because tenants are staying put longer to avoid the stress of re-entering the competitive search process.
What This Means for You
If you are a Seller:
You are currently in the driver’s seat. With stock levels 35% lower than last year, your property is competing against fewer “neighbors.” At Holdsworth Real Estate, we are seeing multiple offers on well-presented homes within days of the first home open. If you’ve been waiting for the “peak,” the current inventory shortage makes now an incredibly strategic time to list.
If you are a Buyer:
Patience and preparation are your best friends. With 10.2% fewer transactions happening, you need to be finance-ready and have your “must-have” list finalized. The jump in land listings might offer an alternative route if you’ve been frustrated by the lack of existing houses.
If you are a Landlord:
While rental listings have ticked up slightly, the long-term trend still favors the investor. However, the drop in leasing activity suggests that finding the right tenant—rather than just any tenant—is becoming the priority as the market stabilizes.
Final Thoughts
Perth remains one of the most resilient and interesting property markets in Australia. While the weekly fluctuations in sales can seem volatile, the underlying trend is clear: demand is high, supply is low, and the lifestyle Perth offers continues to draw people in.
Are you curious about how your property fits into these latest figures? Whether you’re in Baldivis, Morley, or Peppermint Grove, the team at Holdsworth Real Estate is here to help you navigate these numbers and turn them into a winning strategy.
Give us a call today, and let’s discuss your next move.
