- 8,025 properties were for sale across Perth as of the end of last week
- 3% lower than the same time last year
- Number of properties for rent is 17% lower than same time last year
Following the holiday season slowdown, sales activity has rebounded strongly in Perth, with transactions up 124% last week, according to REIWA.
There was a 123% increase in house sales, 210% in unit sales and a 38% increase in vacant land sales.
At the end of last week, there were 8,025 properties for sale across Perth, similar to the previous week, but well below the 10,000 equilibrium for a balanced market.
Specifically, house listings saw a 2% rise, units were stable while vacant land decreased by 1%.
This figure is 14% below the same time four weeks ago, and 3% lower than a year ago.
In terms of rentals, 2,359 properties across Perth were available for rent last week.
This is 5% lower than four weeks ago and 17% lower than this time last year.
Leasing activity did increase 121% as the peak holiday season ended.
Baldivis top suburb
Last week, usual contender Baldivis was the top-selling suburb, with 20 properties sold. This was followed by Rockingham (11), Perth CBD and Port Kennedy (both 10), then Canning Vale, Clarkson, Dianella and Ellenbrook (all 8).
Of the 594 properties sold last week, 428 were houses. However, of the 8,025 properties listed for sale last week, only about half – 4,010 – were houses, showing strong demand last week for houses but weaker demand for units and land.
In terms of rentals, 245 houses and 171 units were rented out. The 416 properties is significantly lower than the 690 from the same week last year.
East Perth was the top leased suburb (15) followed by Scarborough (12). In terms of properties available for rent, there are 1,324 houses and 1,035 units available.
This is only a few hundred houses less than the same time last year.
Perth was the suburb with the most available rentals (99) followed by East Perth (85).