Perth's real estate market saw a significant surge last week, with sales transactions doubling by

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weekly market snapshot

Perth weekly market snapshot for the week ending 7 January 2024

Perth's real estate market saw a significant surge last week, with sales transactions doubling by 100% compared to the previous week. A total of 434 transactions, indicating a notable uptick in the city's property activity.

Sales transactions in Perth last week 100 per cent higher than the previous week. With 434 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

Baldivis – 13
Perth – 8
East Perth – 7
Rockingham – 7
Alkimos – 6

Perth’s most expensive sale: Beeliar – $810,000
Perth’s most affordable sale: Furnissdale – $150,000

At the close of last week, the Perth real estate market saw 3,633 properties for sale, a figure similar to the previous week. The balance was influenced by a 1.3% increase in house listings, relatively stable unit listings, and a 4.0% decrease in vacant land listings compared to the week prior.

The total number of properties available for sale last week marked a significant 23.2% 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, there were 1,825 properties for rent at the end of last week, marking a significant 20.2% increase from the week prior. However, last week's rental listings figure is 7.4% lower than four weeks ago but remains similar to a year ago, reflecting the dynamic nature of Perth's rental landscape.

Top performing suburbs – rentals

Perth – 11
Baldivis – 9
Alkimos – 7
Aveley – 6
Greenfields – 6

Last week, a total of 317 properties were leased, indicating a substantial 120.1% increase from the previous week. However, this figure is 50.7% lower than four weeks ago and 9.2% lower than a year ago, reflecting variations in leasing activity in Perth's rental market.