weekly market snapshot
Perth weekly market snapshot for the week ending 25 August 2024
Sales transactions in Perth last week fell by 6.8 per cent compared to the previous week, with recording 805 transactions.
Sales transactions in Perth last week fell by 6.8 per cent compared to the previous week, with REIWA members recording 805 transactions. A closer look reveals house sales declined by 2.7 per cent, unit sales dropped by 10.7 per cent, and land sales saw a significant decrease of 30 per cent.
Top performing suburbs – sales
1. Armadale – 17
2. Baldivis – 15
3. Ellenbrook – 13
4. East Perth – 12
5. Perth – 12
Perth’s most expensive sale:
Woodlands – $1,935,000
Perth’s most affordable sale:
Tuart Hill – $290,000
There were 3,465 properties for sale in Perth at the end of last week, marking a 3.2 per cent increase from the previous week. This rise can be attributed to house listings growing by 2.8 per cent, unit listings by 3.5 per cent, and vacant land listings by 4 per cent. Last week's total figure of properties for sale is 5.5 per cent higher than four weeks ago but 34.4 per cent lower than the levels seen a year ago.
Last week's total number of properties available for sale is 2.2 per cent higher than four weeks ago but remains 35.5 per cent lower than the levels recorded a year ago.
In Perth's rental market, there were 2,223 properties available for rent at the end of last week, down by 3.1 per cent from the previous week. This rental listing figure is 11.3 per cent lower than four weeks ago but remains 36 per cent higher than a year ago.
Top performing suburbs – rentals
1. Perth – 24
2. Maylands – 16
3. Baldivis – 15
4. East Perth – 14
5. South Perth – 12
670 properties were leased last week, representing a 6.6 per cent drop from the previous week, a 5 per cent decline from four weeks ago, and a 13.6 per cent increase compared to the same time last year.