Perth skyline night
Image: akenarinc from Pixabay
  • 763 Sales transactions occurred last week, according to REIWA
  • 34 per cent less houses for sale compared to this time last year
  • Scarborough followed by Baldivis are top selling suburbs
  • Number of rentals also down;  53 per cent lower compared to this time last year

The data also reveals the number of properties for sale in Perth at the end of last week was up one per cent at 8,312. However, this represents a 34 per cent drop compared to  this time last year.

A nine per cent rise in in both house sales and vacant land sales – alongside a 17 percent rise in unit sales – all contributed to the sales activity rise.

Of the 540 houses sold in Perth last week, 15 came from Scarborough, making the coastal suburb the top selling suburb in Perth with Baldivis coming in a close second place.  The next most popular suburb was Innaloo with nine followed by Butler, Ellenbrook and Canning Vale all with eight sales each.

Rentals up too

Activity in the rental market is higher with 2,912 properties for rent in Perth, three per cent higher than last week.

812 properties were leased last week with 38 of these located in East Perth. The following three most leased suburbs were also located in the inner metropolitan area; Perth, Rivervale and South Perth.

Most notably the number of rentals listed is 53 per cent lower than level seen a year ago; 2912 properties are available for rent now compared to 6154 this week last year.

Perth and East Perth have by far the most available rentals at 133 and 131 respectively.


You May Also Like

Melbourne property market sees mom and dad builders flock to outer suburbs for the best bang for buck

The cost of building a house in these top 20 suburbs started at $272,944 and topped out at $387,688.

Australian rental market clocks in a near-40% price growth, while wages struggle to keep up

Rents soared by almost 40% across the pandemic, while wages barely clocked in 20% growth.

Gender gap closes? Women outpace men in overall property ownership

Challenges persist for younger women in achieving homeownership, highlighting the need for targeted solutions.

Exclusive: Top five regional New South Wales housing markets revealed, the affordable alternatives to Sydney

Hotspotting has exclusively revealed to TPT New South Wales housing market’s five best regional hotspots for homebuyers and investors.

Top Articles

PropertyGuru Asia Property Awards (Australia) returns for its 7th edition, including several brand new award ...

This year's awards include several brand new categories, with entries closing 2 August 2024.

Housing crisis survival guide: How to buy your first Australian property

Three property experts give the low down on how to nab a home in this tough housing market.

Strata properties as investments: All you need to know about investing in a Perth unit

As the cost of renting approaches the cost of a mortgage, more people are investing in units to escape the rental trap.