Perth's real estate market experienced a slight dip last week, with sales transactions decreasing by 2.4% compared to the previous week. Reported a total of 959 transactions, indicating a minor adjustment in the city's property activity.

Perth weekly market snapshot for the week ending 17 December 2023

weekly market snapshot

Perth weekly market snapshot for the week ending 10 Ded 2023

Sales transactions in Perth last week were 2.4 per cent lower than the previous week, with 959 transactions. A closer look shows house sales were 1.4 per cent higher than the week prior, unit sales were down 1.4 per cent and vacant land sales were down 26.5 per cent.

Top performing suburbs – sales

Ellenbrook – 18
Perth – 14
Scarborough – 14
South Perth – 14
Balga – 12

Perth’s most expensive sale: Floreat – $2,060,000
Perth’s most affordable sale: Furnissdale – $199,000

At the close of last week, the Perth real estate market saw 4,459 properties for sale, reflecting a 5.7% decrease from the previous week. This decline is attributed to an 8.6% decrease in house listings, a 3.7% decrease in unit listings, and a 1.2% drop in vacant land listings compared to the week prior.

The total number of properties available for sale last week marked a 9.4% decrease compared to four weeks ago and a substantial 44.9% drop from the levels observed a year ago. This trend highlights a significant reduction in inventory over the past month and year in the Perth real estate market.

In Perth's rental market, there were 1,838 properties for rent at the end of last week, marking a 6.7% decrease from the week prior. Last week's rental listings figure is 3.5% lower than four weeks ago and 1.3% higher than a year ago, indicating dynamic fluctuations in Perth's rental landscape.

Top performing suburbs – rentals

Perth – 21
East Perth – 18
Morley – 16
Baldivis – 14
Como – 12

Last week, reported leasing 742 properties, indicating a significant 15.4% increase from the previous week. This figure is notably higher, marking a 28.2% surge compared to four weeks ago and a 5.2% increase from a year ago, highlighting the robust activity in Perth's rental market.