weekly market snapshot

Perth weekly market snapshot for the week ending 14 April 2024

Sales transactions in Perth surged last week, marking a significant increase of 30.5 percent compared to the previous week. A total of 938 transactions were reported, indicating a notable uptick in real estate activity within the region.

Sales transactions in Perth experienced a notable surge last week, rising by 30.5 percent compared to the previous week. The total number of transactions reached 938, reflecting increased activity in the real estate market. Further analysis reveals that house sales saw a substantial increase of 43 percent from the week prior, while unit sales also saw a significant uptick of 41.3 percent. However, sales of vacant land experienced a decline of 38 percent during the same period.

Top performing suburbs – sales

Baldivis – 22
Perth – 21
East Perth – 15
Subiaco – 15
Ellenbrook – 12

Perth’s most expensive sale: South Dalkeith – $1,800,000
Perth’s most affordable sale: West Perth – $320,000

There were 3,716 properties for sale in Perth at the end of last week, marking a slight increase of 0.7 percent compared to the previous week. This uptick can be attributed to various factors, including a 1.2 percent rise in house listings, a similar increase of 1.2 percent in unit listings, and a modest decrease of 2.5 percent in listings for vacant land.

Last week's total figure of properties available for sale reflects a decline of 6.4 percent compared to four weeks ago. Additionally, it stands significantly lower, at 45.6 percent, than the levels observed a year ago. These figures indicate ongoing dynamics within the Perth real estate market, with fluctuations influenced by various economic and seasonal factors.

In Perth's rental market, a total of 2,045 properties was available for rent at the end of last week, representing a notable increase of 4.2 percent compared to the previous week. Moreover, last week's rental listings figure surged by 12.6 percent from four weeks ago, although it remained slightly lower, by 1.7 percent, than the figures reported a year ago. These trends suggest a dynamic rental landscape influenced by shifting demand and supply dynamics.

Top performing suburbs – rentals

Baldivis – 23
East Perth – 22
Perth – 18
Maylands – 13
Rivervale – 11

630 properties leased last week, which is 26.8 per cent higher than the previous week, 3.6 per cent higher than four weeks ago and 28.6 per cent higher than a year ago.