Sales Activity
Perth’s real estate market saw a slight decline last week, with overall sales transactions decreasing by 4.5% compared to the previous week. REIWA members reported a total of 825 transactions during the period.
- House sales experienced a minor dip of 0.2%.
- Unit sales saw a more significant decrease of 11%.
- Land sales fell by 21.1%.
The top-performing suburbs for sales were:
- Baldivis
- Perth
- Armadale
- Scarborough
- Byford
The highest sale price recorded in Perth was $2,500,000 in Oakford, while the lowest was $190,000 in Furnissdale.
Property Listings
The number of properties available for sale in Perth increased by 3.8% last week compared to the previous week. This was primarily driven by a 4.9% increase in house listings, along with a 1.7% rise in unit listings and a 3% increase in vacant land listings.
Compared to four weeks ago, the total number of properties available for sale is 15.6% higher. However, it remains 20.4% lower than levels seen a year ago.
Rental Market
The rental market in Perth saw a slight decrease in listings last week, with REIWA members reporting 2,032 properties available for rent. This represents a 2.5% decline compared to the previous week.
Compared to four weeks ago, rental listings are down 8.6%, but they are 22% higher than levels seen a year ago.
The top-performing suburbs for rentals were:
- East Perth
- Perth
- Scarborough
- Rivervale
- Baldivis
REIWA members reported 631 properties leased last week, which is 4.4% lower than the previous week, 4.8% lower than four weeks ago, and 8.8% higher than a year ago.