Perth weekly market snapshot for the week ending 5 May 2024

weekly market snapshot

Perth weekly market snapshot for the week ending 5 May 2024

Sales activity in Perth remained consistent last week compared to the prior week, with a total of 987 transactions.

Sales transactions in Perth last week remained steady, mirroring the previous week's numbers, tallying up to 987 transactions. Upon closer inspection, house sales maintained consistency from the previous week, while unit sales saw an increase of 8.8 per cent. However, land sales experienced a decline of 26.3 per cent.

Top performing suburbs – sales

Baldivis – 21
Perth – 18
Rockingham – 17
East Perth – 14
Subiaco – 14

Perth’s most expensive sale: Swanbourne – $5,440,000
Perth’s most affordable sale: Perth – $285,000

At the conclusion of last week, Perth boasted 3,551 properties for sale, marking a 2.5 per cent decline from the previous week. This dip can be attributed to a 1.4 per cent decrease in house listings, a 4.8 per cent drop in unit listings, and a 2.4 per cent reduction in vacant land listings.

Compared to four weeks ago, the total number of properties available for sale in Perth is down by 3.8 per cent, and significantly lower by 43.6 per cent compared to the same time last year.

Switching gears to the rental market, 2,216 properties were for rent in Perth by the end of last week, signifying a 5.7 per cent increase from the prior week. Last week's rental listings surged by 12.9 per cent compared to four weeks ago, and stood 9.2 per cent higher than a year ago.

Top performing suburbs – rentals

Baldivis – 18
Rivervale – 14
Mandurah – 13
Maylands – 13
East Perth – 12

Last week saw 660 properties leased, marking a notable 14.4 per cent increase from the previous week, a significant 33.3 per cent surge compared to four weeks ago, and a similar figure to that of a year ago.