Perth weekly market snapshot for the week ending 11 February 2024

weekly market snapshot

Perth weekly market snapshot for the week ending 11 February 2024

Sales transactions in Perth remained steady last week, with 980 transactions, reflecting a consistent market activity compared to the previous week.

Sales transactions in Perth last week were similar to the previous week, with REIWA members reporting 980 transactions. A closer look shows house sales were similar to the week prior, while unit sales were up 12.8 per cent and land sales were down 17.3 per cent.

Top performing suburbs – sales

Scarborough – 15
East Perth – 14
Como – 13
Ellenbrook – 13
Baldivis – 12

Perth’s most expensive sale: Mount Pleasant – $3,850,000
Perth’s most affordable sale: Mount Lawley – $229,000

Last week, the number of properties for sale in Perth rose to 3,956, marking a 2.9% increase from the previous week. This uptick can be attributed to a rise in house listings by 3.0%, unit listings by 3.5%, and vacant land listings by 1.5%.

The total figure of properties available for sale last week increased by 4.3% compared to four weeks ago but remained 44.6% lower than levels seen a year ago.

In Perth's rental market, there were 1,803 properties for rent in Perth at the end of last week, which is 3.2 per cent lower than the week prior. Last week's rental listings figure is 7.7 per cent lower than four weeks ago and similar to a year ago.

Top performing suburbs – rentals

Perth – 22
Baldivis – 17
Armadale – 16
Como – 16
Rivervale – 14

Last week, 691 properties were leased, marking an 8.0% decrease from the previous week. However, this figure reflects a 12% increase compared to four weeks ago and a 4.4% increase compared to a year ago.