- 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.