Sales Activity Remains Steady
The Perth real estate market continued its steady pace last week, with REIWA members reporting a total of 868 sales transactions. This figure aligns closely with the previous week’s activity.
House Sales Up, Land Sales Down
While overall sales remained consistent, there were some notable shifts within different property types. House sales saw a slight increase of 4.5% compared to the previous week, while unit sales rose by 1.9%. However, land sales experienced a significant decline of 29.4%.
Top-Performing Suburbs
The suburbs of Perth, Gosnells, and Ellenbrook continued to dominate the sales market, with the highest number of transactions. Mandurah and Byford also recorded strong sales activity.
Highest and Lowest Sale Prices
The highest sale price recorded last week was in Mount Pleasant at $3,475,000, while the lowest sale price was in Forrestfield at $172,000.
Rental Market Shows Signs of Cooling
The Perth rental market experienced a slight cooling, with the number of properties available for rent decreasing by 3.4% compared to the previous week. This is a positive sign for renters, as it may indicate increased competition among landlords.
Key Takeaways
- Sales activity in Perth remains steady.
- House and unit sales are on the rise, while land sales have declined.
- The rental market is showing signs of cooling.
- Competition among landlords may be increasing.
Stay Updated
For more in-depth analysis and the latest trends in the Perth real estate market, be sure to check back regularly for our weekly updates.