weekly market snapshot
Perth weekly market snapshot for the week ending 18 February 2024
Sales transactions in Perth last week dipped by 1.7% compared to the previous week, totaling 957 transactions.
Sales transactions in Perth last week were similar to the previous week, with REIWA members reporting 980 transactions. A closer look shows house sales were similar to the week prior, while unit sales were up 12.8 per cent and land sales were down 17.3 per cent.
Top performing suburbs – sales
Baldivis – 25
East Perth – 16
Mandurah – 16
Balga – 14
Rivervale – 14
Perth’s most expensive sale: South Perth – $4,600,000
Perth’s most affordable sale: Mandurah – $225,000
Last week, the number of properties for sale in Perth increased by 2.1% compared to the previous week, reaching a total of 4,040 listings. This uptick can be attributed to a 3.7% increase in house listings, a 1.6% rise in unit listings, and a 1.6% decrease in vacant land listings.
The total number of properties available for sale last week increased by 4.6% compared to four weeks ago, reaching a total of 4,040 listings. However, this figure is still 44.2% lower than the levels seen a year ago.
In Perth's rental market, reported 1,740 properties for rent at the end of last week, marking a 3.5% decrease compared to the previous week. This reduction aligns with a broader trend, as last week's rental listings figure was 12.8% lower than four weeks ago and 2.6% lower than a year ago.
Top performing suburbs – rentals
East Perth – 24
Perth – 22
Baldivis – 14
Como – 12
Maylands – 11
Last week, 658 properties leased in Perth. This indicates a 4.2% decrease compared to the previous week, a 5.9% decrease compared to four weeks ago, but a 5.6% increase compared to the same period last year.