Sales in Perth increased by 1% for the week ending October 27, with REIWA members reporting 914 transactions.
However, property categories performed differently. House sales dipped 2.1% compared to the prior week, while unit sales grew 4.7%, and land sales surged by 28.6%.
Several Perth suburbs led the week in terms of sales:
The most expensive property sold last week was in West Leederville for $2.2 million, while the most affordable was in South Perth, sold for $399,000.
The number of properties for sale in Perth reached 4,929, representing a 3.7% increase from the previous week. This rise was driven by a 4.3% increase in house listings, a 2.8% uptick in unit listings, and a 2.9% rise in vacant land listings.
Compared to four weeks ago, listings are 21.6% higher, though they remain 2% below the levels seen a year earlier.
REIWA members reported 1,915 rental properties available at the end of last week, marking a 2% decline compared to the previous week. This figure is also 8.3% lower than four weeks ago but 11.4% higher than a year ago, reflecting ongoing market shifts.
These suburbs reported the highest number of rental properties leased:
REIWA members reported that 614 properties were leased last week, an increase of 1.2% from the previous week. This is 21.3% higher than four weeks ago and 3% above last year’s figures, showing a steady improvement in leasing activity.
With both the sales and rental markets showing varying trends, Perth brokers and investors can leverage these insights to adjust their strategies as the year-end approaches.
To view the Perth market snapshot infographics, click here.
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