Perth weekly market snapshot for the week ending 19 May 2024

REIWA

Sales transactions in Perth last week were down 2.6 per cent on the previous week, with REIWA members reporting 888 transactions. A closer look shows house sales were relatively stable compared to the week prior, unit sales were down 1 per cent and land sales were down 25.5 per cent.

Top performing suburbs – sales

  1. Baldivis – 19
  2. Perth – 19
  3. Halls Head – 15
  4. Scarborough – 14
  5. Canning Vale – 12

Perth’s highest sale price: Subiaco – $3,575,000

Perth’s lowest sale price: Pinjarra – $250,000

There were 3,511 properties for sale in Perth at the end of last week, which is similar to the previous week. This can be attributed to house and unit remaining stable, and listings for vacant land decreasing 4.3 per cent.

Last week’s total figure of properties available for sale is 8 per cent lower than four weeks ago and 41.2 per cent lower than levels seen a year ago.

In Perth’s rental market, REIWA members reported there were 2,326 properties for rent in Perth at the end of last week, which is 3 per cent up on the week prior. Last week’s rental listings figure is 11.9 per cent higher than four weeks ago and 12.2 per cent higher than a year ago.

Top performing suburbs – rentals

  1. Perth – 23
  2. Scarborough – 22
  3. Baldivis – 20
  4. East Perth – 15
  5. Alkimos – 10

REIWA members reported 637 properties leased last week, which is relatively similar to the previous week, stable with four weeks ago and 8.5 per cent higher than a year ago.

Visit our Perth Market Snapshot graphic for a complete breakdown of the past week.

/Public Release. View in full here.