Perth market surges

Sales transactions in Perth surged by 25% last week, with REIWA members reporting 1,071 transactions.

House sales increased by 12.5%, unit sales by 35.2%, and land sales by an impressive 97.3%.

Top performing suburbs – sales

1. Baldivis – 23 sales
2. Perth – 19 sales
3. Ellenbrook – 16 sales
4. Rivervale – 15 sales
5. Nollamara – 14 sales

See REIWA’s LinkedIn post.

Property listings decrease

There were 3,144 properties for sale in Perth at the end of last week, a 6.6% decrease from the previous week. House listings dropped by 5%, unit listings by 9.1%, and land listings by 8.6%.

The total figure of properties available for sale is 3.3% lower than four weeks ago and 39.8% lower than a year ago.

Rental market trends

In Perth’s rental market, there were 2,597 properties for rent at the end of last week, a 4.9% increase from the previous week. This figure is 4.5% higher than four weeks ago and 22.4% higher than a year ago.

Top performing suburbs – rentals

1. Perth – 21 rentals
2. Baldivis – 13 rentals
3. East Perth – 13 rentals
4. South Perth – 13 rentals
5. Armadale – 12 rentals

Leasing activity

REIWA members reported 645 properties leased last week, which is 12.6% lower than the previous week but 11.2% higher than four weeks ago and 2.2% higher than a year ago.

Notable sales prices

1. Highest sale price: Trigg – $3,250,000
2. Lowest sale price: Furnissdale – $178,000

The Perth market continues to show dynamic changes in both sales and rental activities, reflecting broader economic trends and local demand shifts.

For a complete breakdown of the past week, check out REIWA’s Perth Market Snapshot graphic.

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