Perth's real estate market surged last week, marking a 13.6% increase in sales transactions compared to the previous week. With a robust 1,068 transactions,

Perth's real estate market surged last week, marking a 13.6% increase in sales transactions compared to the previous week. REIWA members reported a robust 1,068 transactions, reflecting the dynamic activity in the city's property landscape.

weekly market snapshot

Perth weekly market snapshot for the week ending 26 Nov 2023

Perth's real estate market experienced a notable 13.6% surge in sales transactions last week, totaling 1,068 transactions. Breaking it down further, house sales rose by 8.8%, unit sales by 17.6%, and vacant land sales skyrocketed by an impressive 44.7% compared to the previous week.

Top performing suburbs – sales

Baldivis – 20
Scarborough – 20
Mandurah – 18
Armadale – 16
Canning Vale - 15

Perth’s most expensive sale: Dalkeith – $3,800,000
Perth’s most affordable sale: Inglewood – $220,000

At the close of last week, the Perth real estate market maintained stability with 4,928 properties for sale, a figure consistent with the previous week. The balance was influenced by a 1.4% rise in house listings, stable unit listings, and a 2.7% decrease in vacant land listings compared to the prior week.

The total number of properties available for sale last week marked a 2% decrease compared to four weeks ago and a substantial 42.9% drop from the levels observed a year ago. This trend indicates a notable reduction in inventory over the past month and year.

In Perth's rental market, 1,982 properties was for rent at the end of last week, reflecting a 4.1% increase from the previous week. This figure is notably higher, marking a 15.3% increase compared to four weeks ago and a 4.8% rise from a year ago, indicating a dynamic landscape in the city's rental market.

Top performing suburbs – rentals

Perth – 25
East Perth – 15
Alkimos – 12
Gosnells – 12
Scarborough – 11

Last week, leased 613 properties, signifying a 5.1% increase from the previous week. This figure is 2.3% higher than four weeks ago but registers a 6.8% decrease compared to a year ago, illustrating the ongoing dynamics in Perth's rental market.