Perth weekly market snapshot for the week ending 31 March 2024

weekly market snapshot

Perth weekly market snapshot for the week ending 31 March 2024

Sales transactions in Perth experienced a decline of 10.4 percent compared to the previous week, totaling 962 transactions.

Sales transactions in Perth witnessed a decrease of 10.4 percent from the previous week, totaling 962 transactions. Upon closer examination, house sales declined by 4.1 percent compared to the week prior, while unit sales experienced a significant drop of 20.3 percent. Similarly, land sales also declined by 31.6 percent.

Top performing suburbs – sales

Ellenbrook – 18
Gosnells – 14
Mandurah – 14
Perth – 14
Como – 13

Perth’s most expensive sale: South Dalkeith – $3,450,000
Perth’s most affordable sale: North Perth – $240,000

At the end of last week, there were 3,591 properties for sale in Perth, marking a 9.2 percent decrease from the previous week. This decline is attributed to a reduction in house listings by 12.8 percent and unit listings by 8.2 percent, while listings for vacant land increased by 3.1 percent.

The total number of properties available for sale last week was 9.4 percent lower than four weeks ago and 49.3 percent lower than a year ago.

In Perth's rental market, there were 1,850 properties for rent at the end of last week, showing a 0.5 percent increase from the previous week. Additionally, last week's rental listings were 9.9 percent higher than four weeks ago but 3.5 percent lower than a year ago.

Top performing suburbs – rentals

Perth – 14
South Perth – 12
Scarborough – 11
Mandurah – 10
West Perth – 10

Last week, 521 properties were leased in Perth, reflecting a 19 percent decline from the previous week. This figure also indicates a 14.2 percent decrease compared to four weeks ago and a 17.2 percent decrease compared to the same period last year.