Perth weekly market snapshot for the week ending 3 March 2024

weekly market snapshot

Perth weekly market snapshot for the week ending 3 March 2024

Sales transactions in Perth experienced a notable increase last week, rising by 5.2 percent compared to the previous week. With a total of 1,054 transactions, indicating heightened activity in the local real estate market.

Sales transactions in Perth last week experienced a notable increase, rising by 5.2 percent compared to the previous week. According to data, a total of 1,054 transactions were reported. Delving deeper, house sales saw a 2.2 percent uptick, unit sales rose by 3.3 percent, and land sales surged by an impressive 38.2 percent compared to the preceding week.

Top performing suburbs – sales

Baldivis – 26
Perth – 19
Scarborough – 15
Mandurah – 14
Mount Lawley – 13

Perth’s most expensive sale: South East Perth – $3,250,000
Perth’s most affordable sale: Perth – $321,000

At the end of last week, there were 3,962 properties for sale in Perth, reflecting a 3.4 percent decrease compared to the previous week. This decline is attributed to a 3.1 percent decrease in house listings, a 1.8 percent decrease in unit listings, and a significant 6.7 percent decrease in listings for vacant land compared to the preceding week.

The total figure of properties available for sale last week was 3 percent higher than four weeks ago but 44.2 percent lower than levels seen a year ago.

1,683 properties was available for rent at the end of last week, reflecting a 2.9 percent decrease compared to the previous week. Additionally, last week's rental listings figure is 9.6 percent lower than four weeks ago and 9.3 percent lower than a year ago.

Top performing suburbs – rentals

Perth – 23
Baldivis – 13
East Perth – 13
West Perth – 13
Como – 10

Last week, a total of 612 properties were leased in Perth, marking a 2.7 percent increase compared to the previous week. However, this figure represents an 18.2 percent decrease compared to four weeks ago and an 11.1 percent increase compared to the same period last year.