Perth weekly market snapshot for the week ending 26 May 2024

weekly market snapshot

Perth weekly market snapshot for the week ending 26 May 2024

Sales transactions in Perth last week increased by 9.8 per cent compared to the previous week, with 967 transactions.

Sales transactions in Perth last week rose by 9.8 per cent compared to the previous week, with REIWA members reporting 967 transactions. A closer look reveals house sales were up 3.7 per cent, unit sales increased by 27.5 per cent, and land sales rose by 15.3 per cent.

Top performing suburbs – sales

East Perth – 24
Baldivis – 15
Como – 13
Ellenbrook – 13
Joondalup – 13

Perth’s most expensive sale: Perth – $1,900,000
Perth’s most affordable sale: East Perth – $240,000

There were 3,438 properties for sale in Perth at the end of last week, a decrease of 2.1 per cent from the previous week. This decline is attributed to house listings decreasing by 1.5 per cent, unit listings dropping by 6 per cent, and listings for vacant land increasing by 3.7 per cent.

Last week's total number of properties available for sale is 8 per cent lower than four weeks ago and 41.2 per cent lower than levels seen a year ago.

In Perth's rental market, 2,414 properties were available for rent in Perth at the end of last week, a 3.8 per cent increase from the week prior. Last week's rental listings are 15.2 per cent higher than four weeks ago and 22.5 per cent higher than a year ago.

Top performing suburbs – rentals

Perth – 26
Baldivis – 17
East Perth – 16
South Perth – 14
Maylands – 13

Last week, 681 properties were leased, which is 7.6 per cent higher than the previous week, 18 per cent higher than four weeks ago, and 1 per cent higher than a year ago.