Perth’s property market experienced an 8.8% rise in sales transactions in the week ending July 21, with REIWA members reporting a total of 838 transactions.
The surge was driven primarily by significant increases in unit and land sales, despite a drop in house sales.
Top performing suburbs – sales
Price highlights
At the end of last week, there were 3,286 properties for sale in Perth, marking a 1.8% increase from the previous week. The increase was largely due to a 4.7% rise in house listings and a 1.4% rise in unit listings, although listings for vacant land decreased by 9.9%.
Current listings are 1.3% higher than four weeks ago but 37.7% lower than a year ago, REIWA reported.
In the rental sector, REIWA members reported 2,568 properties available for rent, reflecting a 1% decrease from the previous week. The figure is 1.7% higher than four weeks ago and 29.4% higher than the same time last year.
Top performing suburbs – rentals
Last week, 642 properties were leased, a 2.9% decrease from the previous week and a 6.4% decrease from four weeks ago. However, this represents a 6.3% increase from the same period last year.
For a complete breakdown of the past week’s market activity, visit REIWA’s Perth Market Snapshot graphic. Find the REIWA report here. Compare the latest figures with the previous results.
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