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,
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.