Last week, REIWA members reported leasing 742 properties, indicating a significant 15.4% increase from the previous week. This figure is notably higher, marking a

Perth weekly market snapshot for the week ending 31 December 2023

weekly market snapshot

Perth weekly market snapshot for the week ending 31 December 2023

Last week, REIWA members reported leasing 742 properties, indicating a significant 15.4% increase from the previous week. This figure is notably higher, marking a 28.2% surge compared to four weeks ago and a 5.2% increase from a year ago, highlighting the robust activity in Perth's rental market.

Sales transactions in Perth last week witnessed a significant decline of 76%, as reported by REIWA members, totaling 217 transactions. Breaking it down further, house sales were 74.7% lower than the week prior, unit sales plummeted by 78.9%, and vacant land sales saw a substantial decrease of 76.7% compared to the previous week.

Top performing suburbs – sales

Halls Head – 8
Baldivis – 5
East Perth – 5
Greenfields – 5
Balga – 4

Perth’s most expensive sale: Mount Pleasant – $1,180,000
Perth’s most affordable sale: Safety Bay – $380,000

At the end the of last week, Perth real estate market saw 3,648 properties for sale, reflecting an 8.2% decrease from the previous week. This decline is attributed to an 8.6% decrease in house listings, an 8.2% decrease in unit listings, and a 7.6% drop in vacant land listings compared to the week prior.

The total number of properties available for sale last week marked a significant 23.6% decrease compared to four weeks ago and a substantial 48.9% drop from the levels observed a year ago. This trend underscores a notable reduction in inventory over the past month and year in the Perth real estate market.

In Perth's rental market, 1,518 properties for rent at the end of last week, a figure similar to the week prior. However, last week's rental listings are 21.3% lower than four weeks ago but 4.7% higher than a year ago, showcasing the evolving dynamics in Perth's rental landscape.

Top performing suburbs – rentals

Perth – 8
Baldivis – 5
Attadale – 3
East Perth – 3
Nedlands – 3

145 properties leased last week, which is 80.9 per cent lower than the previous week, 77.6 per cent lower than four weeks ago and 5.2 per cent lower than a year ago.