Perth weekly market snapshot for the week ending 17 March 2024

weekly market snapshot

Perth weekly market snapshot for the week ending 17 March 2024

Sales transactions in Perth last week experienced a significant increase, rising by 16.9 percent compared to the previous week. According to reports , a total of 1,044 transactions were recorded.

Sales transactions in Perth last week surged by 16.9 percent compared to the previous week, with a total of 1,044 transactions. Upon closer examination, house sales rose by 15.6 percent compared to the week prior, unit sales increased by 10.7 percent, and land sales saw a remarkable surge of 47.1 percent.

Top performing suburbs – sales

Perth – 21
Rockingham – 18
Scarborough – 17
Baldivis – 16
Gosnells – 16

Perth’s most expensive sale: South Wannanup – $1,450,000
Perth’s most affordable sale: Rivervale – $225,000

There were 3,971 properties for sale in Perth at the end of last week, representing a 0.9 percent decrease compared to the previous week. This decline can be attributed to a 1.3 percent increase in house listings compared to the week prior, offset by a 1.8 percent decrease in unit listings and a significant 6.6 percent decrease in listings for vacant land.

Last week's total figure of properties available for sale is 1.7 percent lower than four weeks ago and 45.3 percent lower than levels seen a year ago.

In Perth's rental market, 1,816 properties for rent at the end of last week, reflecting a 0.9 percent increase compared to the week prior. Last week's rental listings figure is 4.4 percent higher than four weeks ago and 7.6 percent lower than a year ago.

Top performing suburbs – rentals

East Perth – 18
Victoria Park – 16
Perth – 15
Baldivis – 14
Butler – 13

617 properties were leased last week, marking a notable increase of 26.7 percent compared to the previous week. However, this figure is 5.7 percent lower than four weeks ago and similar to the same period a year ago.