Perth weekly market snapshot for the week ending 10 March 2024

weekly market snapshot

Perth weekly market snapshot for the week ending 10 March 2024

Sales transactions in Perth experienced a decline last week, decreasing by 12.9 percent compared to the previous week. According to data, a total of 902 transactions were reported.

Sales transactions in Perth last week experienced a notable decrease, dropping by 12.9 percent compared to the previous week. A total of 902 transactions were reported. Upon closer examination, it's evident that house sales experienced a 10.1 percent decline, unit sales dropped by 12.1 percent, and land sales saw a substantial decrease of 33.3 percent compared to the preceding week.

Top performing suburbs – sales

Baldivis – 22
Perth – 19
Armadale – 14
Maylands – 14
Byford – 13

Perth’s most expensive sale: South Claremont – $7,100,000
Perth’s most affordable sale: Wanneroo – $210,000

There were 4,007 properties for sale in Perth at the end of last week, reflecting a 1.1 percent increase compared to the previous week. This increase can be attributed to house listings rising by 3.2 percent, while unit listings remained similar to the week prior, and listings for vacant land decreased by 4.2 percent.

Last week's total figure of properties available for sale is 1.3 percent higher than four weeks ago but 44 percent lower than levels seen a year ago.

In Perth's rental market, there were 1,799 properties for rent in Perth at the end of last week, which is 6.9 percent up on the week prior. Last week's rental listings figure is similar to four weeks ago and 5.3 percent lower than a year ago.

Top performing suburbs – rentals

Perth – 22
East Perth – 15
West Perth – 13
Rivervale – 10
Victoria Park – 9

489 properties were leased last week, marking a 20.1 percent decrease compared to the previous week, a 28.5 percent decrease compared to four weeks ago, and an 8.9 percent decrease compared to a year ago.