For the week ending Sept. 1, Perth saw a 5% increase in property sales, with 833 transactions reported by REIWA members.
House sales rose by 1.4%, while unit sales surged by 19%, although land sales dropped by 4.1%. Top-selling suburbs included Perth, Baldivis, and Scarborough.
The number of properties for sale in Perth climbed by 5% last week, totaling 3,637. The surge was driven by a 22% increase in vacant land listings, while house listings rose by 3.3%.
Despite the recent increase, listings remain 29.1% lower than the same time last year.
Rental listings in Perth dipped by 1.5% last week, with 2,190 properties available.
“The rental market remains tight, with last week's figure down 13% compared to four weeks ago,” REIWA said.
However, rental listings have increased 32.4% year-on-year.
Perth and Baldivis topped both sales and rental markets. Nedlands recorded the highest sale price at $2.36 million, while Success had the lowest at $380,000, REIWA reported.
See the REIWA report in full on its website or on LinkedIn. Compare the latest figures with that of the previous week. REIWA also recently discussed the real issue behind rising property prices in Perth.
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