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
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.