Sales transactions in Perth decreased by 6.8% last week, with REIWA members reporting 805 transactions.
House sales were down by 2.7%, unit sales fell 10.7%, and land sales saw the largest drop, falling by 30%.
Top-performing suburbs for sales included Armadale with 17 transactions, followed by Baldivis with 15.
Despite the drop in sales, the number of properties for sale in Perth increased by 3.2% from the previous week, reaching 3,465. This rise can be attributed to higher house, unit, and land listings.
However, the current number of listings is still 34.4% lower than the same period last year.
In Perth’s rental market, listings dropped by 3.1%, with 2,223 rental properties available.
Despite the week-on-week decline, this figure is 36% higher than a year ago. Top rental suburbs included Perth (24 listings) and Maylands (16).
Rental activity also slowed, with 670 properties leased last week—6.6% lower than the previous week. Despite the dip, leasing activity remains 13.6% higher than the same time last year, indicating a healthy demand for rentals across the city, REIWA reported.
Read the report in full via LinkedIn or the REIWA website.
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