Perth's real estate market saw a significant surge last week, with sales transactions go higher by 45.2 percent from the previous week.

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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.