Perth's real estate market saw a significant surge last week, with sales transactions go higher by 45.2 percent from the previous week.
weekly market snapshot
Perth weekly market snapshot for the week ending 14 January 2024
Perth's real estate market experienced a significant uptick last week, with sales transactions surging by 45.9% compared to the previous week. REIWA members reported a total of 626 transactions, indicating a notable increase in the city's property activity.
Sales transactions in Perth last week witnessed a significant surge of 45.9%, , totaling 626 transactions. Breaking it down further, house sales were 46.0% higher than the week prior, unit sales saw a notable increase of 45.1%, and vacant land sales surged by 47.1% compared to the previous week.
Top performing suburbs – sales
- Baldivis – 11
- Mandurah – 10
- Butler – 9
- East Perth – 9
- Rivervale – 9
Perth’s most expensive sale: Hamilton Hill – $2,100,000
Perth’s most affordable sale: Furnissdale – $115,000
At the close of last week, the Perth real estate market saw 3,792 properties for sale, marking a 4.4% increase from the previous week. This uptick is attributed to a 9.0% increase in house listings, a 3.1% increase in unit listings, while vacant land listings decreased by 4.0% compared to the week prior.
The total number of properties available for sale last week marked a 4.4% increase compared to four weeks ago. However, this figure remains 47.2% lower than the levels observed a year ago, indicating continued scarcity in inventory in the Perth real estate market.
In Perth's rental market, there were 1,954 properties for rent at the end of last week, reflecting a 7.1% increase from the week prior. Last week's rental listings figure is 6.3% higher than four weeks ago but 2.1% lower than a year ago, highlighting the dynamic nature of Perth's rental landscape.
Top performing suburbs – rentals
- West Perth – 15
- Canning Vale – 13
- Perth – 13
- Maylands – 12
- Baldivis – 11
Last week, a total of 619 properties were leased, indicating a substantial 98.4% increase from the previous week. However, this figure is 15.1% lower than four weeks ago and 3.5% lower than a year ago, illustrating the varied leasing activity in Perth's rental market.