Perth weekly market snapshot for the week ending 18 February 2024

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.