Sales activity decreased by 2.5 cent in Perth last week, with REIWA members reporting 836 transactions. A closer look shows house sales decreased by 2.6 per cent and unit sales decreased by 2.3 per cent whereas vacant land sales were the same as the week prior.
Properties for sale
There were 7,137 properties for sale in Perth at the end of last week, which is down 1.7 per cent compared with the previous week. This can be attributed to house listings decreasing by 2.6 per cent and unit listings decreasing by 1.5 per cent while vacant land listings were stable.
Last week’s total figure of properties available for sale is similar to levels seen four weeks ago and 11.7 per cent lower than levels seen a year ago.
Properties for rent
In Perth’s rental market, REIWA members reported there were 1,905 properties for rent in Perth at the end of last week, which is 3.6 per cent lower than the previous week. Last week’s rental listings figure is 31.4 per cent higher than levels seen four weeks ago but 17.4 per cent lower than a year ago.
REIWA members reported 582 properties leased, which is 22 per cent lower than the previous week and significantly higher than levels seen four weeks ago (the last week of 2022 when transactions are typically lower due to public holidays and office closures) but 6.3 per cent lower than levels seen a year ago.
Visit our Perth Market Snapshot graphic for a complete breakdown of the past week.
Source: reiwa.com.au
31 January 2023
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