Perth weekly market snapshot for the week ending 21 April 2024

weekly market snapshot

Perth weekly market snapshot for the week ending 21 April 2024

Sales transactions in Perth last week saw a 4.4 percent uptick compared to the previous wee. This increase, totaling 968 transactions, hints at potential shifts in market dynamics or buyer and seller behavior.

Sales transactions in Perth last week saw a 4.4 percent increase compared to the previous week, totaling 968 transactions. Upon closer examination, the data reveals that house sales were up 4.8 percent, unit sales increased by 3.7 percent, and land sales experienced a 3 percent uptick.

Top performing suburbs – sales

Baldivis – 24
Rockingham – 15
Maylands – 14
Scarborough – 14
Armadale – 13

Perth’s most expensive sale: South Cottesloe – $4,000,000
Perth’s most affordable sale: West Wembley – $230,000

At the end of last week, there were 3,818 properties available for sale in Perth, marking a 2.7 percent increase from the previous week. This rise can be attributed to a 2.7 percent increase in house listings, while unit listings remained steady and listings for vacant land surged by 9.1 percent.

Despite this uptick, last week's total figure for properties on the market is still 3.4 percent lower than four weeks ago and a significant 42.5 percent lower than levels seen a year ago.

Meanwhile, in Perth's rental market, reported 2,078 properties for rent at the end of last week, reflecting a 1.6 percent increase from the prior week. These rental listings have surged by 12.9 percent over the past four weeks and are 3.2 percent higher than a year ago.

Top performing suburbs – rentals

East Perth – 19
Perth – 19
Alkimos – 13
Rivervale – 13
Scarborough – 13

Last week saw 644 properties leased in Perth, marking a 2.5 percent increase from the previous week. Compared to four weeks ago, lease numbers were up by 1.1 percent, yet they showed a slight decrease of 2.7 percent compared to the same period last year.