- Sales activity was up but stock remained steady last week in Perth
- The rental market remains tight
- Baldivis was (as is often the case) the top selling suburb for the week
REIWA‘s latest weekly data snapshot revealed a 14% increase in sales activity compared to the previous week, with a total of 882 sales transactions reported across Perth last week.
Baldivis – a large suburb in the south of Perth – was the top-selling suburb for the week with 22 houses sold. Shenton Park was second on the list with 17 sold, and then Balga with 13.
Property Stock Activity
At the week’s end, Perth had 9,026 properties on the market. This is mostly unchanged from the previous week.
The figure is 1% down from four weeks ago and 17% down from the same week last year.
The figure has remained steady over the past couple of weeks. These levels are an indicator of boom periods as they are some ways from what is regarded as a ‘balanced market’ (between 12,000 and 13,000 listings).
Rental Stock Activity
2,839 properties were available on the rental market at last week’s end, this is 32% down from the same week a year ago.
Looking at more recent data, rental availability fell 1% from the previous week and 5% from four weeks ago.
As with the sales market, rental stock is still very tight and will have a while to go before reaching the ‘balanced market’ (of between 7,000 and 8,000 listings), or 3% of total rental dwellings.