Baldivis houses
Baldivis houses. Image: Canva
  • Baldivis tops the charts in REIWA's freshly released Perth Market Snapshot
  • Perth's city centre takes the podium on the rental side of the market
  • Rental listing levels are a staggering 48% lower than the same time a year ago

Baldivis tops the charts in REIWA’s freshly released Perth Market Snapshot for this past week. 26 properties were sold in the south of the river suburb, leaving the others in the dust.

Mosman Park came in second with 13 homes sold, just ahead of Rockingham on 12 sold.

Total sales activity in the city increased a staggering 16% last week, with REIWA members reporting 966 transactions. The same week last year, property sales were at 667.

Closing in on 1,000 sales in a week is a flashback to the property boom running up to 2006. During those years, 50,000 sales a year were commonplace. Are we returning to those kinds of boom years?

Total properties for sale increased by 1% to 7,905, still well below the levels seen pre-pandemic and well below what REIWA refer to as a “balanced market”, which is around 12,000 to 13,000 listings.

Unit listings, in particular, are responsible for driving the rise last week. The week’s total listing figures are 5% lower than levels seen 4 weeks ago and 38% lower than the same time a year ago.

On the rental side of the market, Perth’s city centre tops the podium at 27 properties leased. This was followed by East Perth and Scarborough, both having had 18 properties leased.

Perth had a total of 842 properties leased last week.

Total properties listed on the rental market dropped by 2% with, REIWA members reporting 2,840 properties for rent in Perth.

The rental listings are 1% lower than four weeks ago and a significant 48% lower than a year ago.

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.