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

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

Sales transactions in Perth last week soared by 34.1%, with a total of 830 transactions. Breaking it down, house sales surged by 39.3%, unit sales saw a remarkable 45.2% increase, while vacant land sales experienced a modest decline of 16.2%.

Top performing suburbs – sales

  1. Baldivis – 17
  2. South Perth – 16
  3. Perth – 15
  4. Como – 14
  5. Banksia Grove – 13

Perth’s most expensive sale: Mandurah – $1,390,000
Perth’s most affordable sale: Furnissdale – Maylands – $330,000

At the close of last week, the Perth real estate market recorded 3,864 properties for sale, reflecting a modest increase of 1.9% from the previous week. This uptick can be attributed to a 4.1% rise in house listings and a 1.3% increase in unit listings, although vacant land listings experienced a slight dip of 2.6%.

The total properties available for sale in Perth last week marked a 2.8% decline from four weeks ago, further emphasizing the tightening real estate market. This figure is notably 46.8% lower than the levels observed a year ago.

"In Perth's bustling rental market, the number of properties for rent increased by 2.1% last week, with 1,996 available rentals. This figure reflects a substantial 32.2% surge from four weeks ago and a modest 1% increase compared to the same time last year.

Top performing suburbs – rentals

  1. East Perth – 21
  2. Perth – 21
  3. Maylands – 17
  4. Baldivis – 16
  5. Como – 12

In a dynamic week for Perth's rental landscape, 703 leased properties, marking a 13.9% increase from the previous week. Despite a 6.4% dip from four weeks ago, the market remains 5.1% lower compared to the same period last year.