- Sales transactions in Perth were down 3.2% last week
- Properties available for sale increased 4% from the previous week
- Baldivis took out the top spot for most sales with 23 properties
REIWA members reported 965 sale transactions in Perth last week. This is a 3.2% decrease from the previous week, but not far off the ‘boom-time’ figure of 1,000.
The slight decline can be pinned to the staggering 23% drop in unit sales and a 1.1% decline in house sales. By contrast, vacant land sales increased 10%.
There were 8,650 properties listed for sale at the end of last week. This is 4% up from the previous week, but still well below the ‘market equilibrium’ level of around 12,000.
For context, the total listings on the market are 10% higher than four weeks ago but 31% lower than the same week last year.
Baldivis was once again the most popular suburb with 23 property sales followed by another consistent contender Scarborough with 14 property sales. These two suburbs consistently record more sales as they are relatively large areas with many listings and a good deal of active agencies competing for business.
On the rental side of the market, 2,720 properties were available for rent at the end of last week, this is a 1% increase from the previous week.
Rental listings are only 1.6% less than four weeks ago but a massive 49% lower than the same week last year. Available rentals have been stuck below 1% vacancy levels for five months now.
Perth and East Perth were the most popular suburbs with respect to rentals.