Perth's real estate market saw a slight dip last week, with sales transactions declining by 3.1% compared to the previous week.

Perth weekly market snapshot for the week ending 03 Dec 2023

weekly market snapshot

Perth weekly market snapshot for the week ending 3 Ded 2023

Sales transactions in Perth last week dipped by 3.1%, as reported, totaling 1,025 transactions. While house sales remained consistent, there was a 7.6% decline in unit sales and an 8.2% decrease in vacant land sales compared to the previous week.

Top performing suburbs – sales

East Perth – 14
Rockingham – 14
Scarborough – 12
Armadale – 11
Forrestfield - 11

Perth’s most expensive sale: Wembley - $3,300,000
Perth’s most affordable sale: Wanneroo - $243,000

At the close of last week, the Perth real estate market saw a 3.1% decrease in available properties for sale, totaling 4,775. This decline is attributed to a 3.5% reduction in house listings, a 1.1% decrease in unit listings, and a 4.7% drop in vacant land listings compared to the previous week.

The total number of properties available for sale last week marked a 1.6% decrease compared to four weeks ago and a substantial 43.7% drop from the levels observed a year ago. This trend underscores a notable reduction in inventory over the past month and year in the Perth real estate market.

In Perth's rental market, 1,930 properties was for rent at the end of last week, indicating a 2.6% decrease from the week prior. Last week's rental listings figure is notably higher, marking an 11% increase compared to four weeks ago and a 2.8% rise from a year ago, showcasing the dynamic nature of Perth's rental landscape.

Top performing suburbs – rentals

East Perth – 24
Perth – 24
Baldivis – 17
Como – 12
Victoria Park – 12

Last week, a total of 653 properties were leased, representing a 7.2% increase compared to the previous week. This figure is 6% higher than four weeks ago and 3.5% higher than a year ago, indicating sustained activity in Perth's rental market.