Perth weekly market snapshot for the week ending 19 May 2024

weekly market snapshot

Perth weekly market snapshot for the week ending 19 May 2024

Sales transactions in Perth last week were down 2.6 per cent compared to the previous week, with 888 transactions.

Sales transactions in Perth last week were down 2.6 per cent compared to the previous week, with REIWA members reporting 888 transactions. A closer look shows house sales were relatively stable, unit sales decreased by 1 per cent, and land sales dropped by 25.5 per cent.

Top performing suburbs – sales

Baldivis – 19
Perth – 19
Halls Head – 15
Scarborough – 14
Canning Vale – 12

Perth’s most expensive sale: Subiaco – $3,575,000
Perth’s most affordable sale: Pinjarra – $250,000

There were 3,511 properties for sale in Perth at the end of last week, a figure similar to the previous week. This stability is due to house and unit listings remaining steady, while listings for vacant land decreased by 4.3 per cent.

Last week's total number of properties available for sale is 8 per cent lower than four weeks ago and 41.2 per cent lower than levels seen a year ago.

In Perth's rental market, 2,326 properties were available for rent in Perth at the end of last week, which is 3 per cent higher than the week prior. Last week's rental listings are 11.9 per cent higher than four weeks ago and 12.2 per cent higher than a year ago.

Top performing suburbs – rentals

Perth – 23
Scarborough – 22
Baldivis – 20
East Perth – 15
Alkimos – 10

Last week, 637 properties were leased, a figure relatively similar to the previous week, stable compared to four weeks ago, and 8.5 per cent higher than a year ago.