The Perth real estate market surged, with sales transactions spiking by 34.1% last week, as reported by REIWA members, totaling an impressive 830 transactions.

weekly market snapshot

Perth weekly market snapshot for the week ending 21 January 2024

Last week, Perth's real estate market saw a slight dip, with sales transactions decreasing by 3.8% compared to the previous week. With a total of 792 transactions during this period.

Last week in Perth, sales transactions dipped by 3.8% compared to the previous week, totaling 792 transactions. House sales decreased by 8.3%, while unit sales increased by 7.1%, with land sales remaining steady.

Top performing suburbs – sales

Rockingham – 17
Como – 16
Ellenbrook – 15
Perth – 12
East Perth – 11

Perth’s most expensive sale: Wannanup – $1,900,000
Perth’s most affordable sale: Furnissdale – $179,000

Perth saw 3,860 properties for sale last week, holding steady from the previous week. House listings rose by 1.0%, while vacant land listings increased by 2.5%. However, unit listings experienced a 4.1% decrease.

The total properties available for sale last week increased by 5.8% compared to four weeks ago, yet remained 45.9% lower than a year ago, indicating continued market stability amidst fluctuating trends.

In Perth's rental market, the number of properties for rent decreased by 2.0% last week, yet remained 28.9% higher than four weeks ago and 2.7% higher than a year ago, reflecting ongoing fluctuations in rental supply amidst evolving market conditions.

Top performing suburbs – rentals

East Perth – 19
Maylands – 18
Perth – 18
Subiaco – 13
Rivervale – 11

597 properties leased last week, which is 14.7 per cent lower than the previous week, 317.5 per cent higher than four weeks ago and 4.6 per cent higher than a year ago.