Sales Activity

Perth’s real estate market saw a slight decline in sales activity last week. A total of 805 transactions were reported by REIWA members, representing a 6.8% decrease compared to the previous week. House sales were down 2.7%, while unit sales experienced a more significant drop of 10.7%. The land market saw the steepest decline, with sales falling by 30%.

Top Performing Suburbs

The top-performing suburbs for sales last week were Armadale, Baldivis, Ellenbrook, East Perth, and Perth.

Highest and Lowest Sale Prices

The highest sale price recorded was in Woodlands at $1,935,000. The lowest sale price was found in Tuart Hill at $290,000.

Property Listings

The number of properties available for sale in Perth increased slightly last week, rising by 3.2%. This was primarily driven by a rise in house and unit listings.

Rental Market

The rental market also experienced a slight decline, with 2,223 properties available for rent at the end of last week. This represents a 3.1% decrease compared to the previous week.

Top Performing Suburbs for Rentals

The top-performing suburbs for rentals were Perth, Maylands, Baldivis, East Perth, and South Perth.

Rental Listings

The number of rental listings was down 11.3% compared to four weeks ago but remains 36% higher than levels seen a year ago.

Overall

While the Perth real estate market experienced a slight downturn in sales activity last week, the rental market continues to show strong demand. Overall, the market remains stable, but it’s worth keeping an eye on emerging trends and factors that may influence future activity.