Perth weekly market snapshot for the week ending 25 February 2024

weekly market snapshot

Perth weekly market snapshot for the week ending 25 February 2024

Sales transactions in Perth experienced a 6.7% increase compared to the previous week, with a total of 1,010 transactions.

Sales transactions in Perth surged by 6.7% compared to the previous week, totaling 1,010 transactions. Analyzing the data further reveals that house sales increased by 6.0% and unit sales by 11.3%, although land sales experienced a slight decrease of 1.3%.

Top performing suburbs – sales

Baldivis – 16
East Perth – 16
Como – 13
Perth – 13
Rockingham – 13

Perth’s most expensive sale: South Karrinyup – $2,202,000
Perth’s most affordable sale: Furnissdale – $139,000

Last week, the number of properties available for sale in Perth increased by 1.5% compared to the previous week, totaling 4,101 properties. This uptick can be attributed to a 4.7% increase in unit listings, while house and vacant land listings remained similar to the previous week.

The total number of properties available for sale last week increased by 6.2% compared to four weeks ago. However, despite this recent rise, the inventory remains significantly lower, showing a 44.0% decrease compared to levels observed a year ago.

In Perth's rental market, the number of properties available for rent remained stable at 1,733 at the end of last week, consistent with the previous week's figures. However, compared to four weeks ago, there has been an 11.4% decrease in rental listings. Interestingly, compared to a year ago, the current rental listings are 1.2% higher.

Top performing suburbs – rentals

Perth – 21
East Perth – 17
South Perth – 15
Maylands – 11
Alkimos – 10

Last week, 597 properties were leased, a figure similar to four weeks ago but 9.1% lower than the previous week. Compared to a year ago, there was an 8.6% decrease in the number of properties leased.