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
- Baldivis – 17
- South Perth – 16
- Perth – 15
- Como – 14
- 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
- East Perth – 21
- Perth – 21
- Maylands – 17
- Baldivis – 16
- 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.