Perth Market Snapshot for the week ending 26 August

Sales activity decreased six per cent in Perth this week, with REIWA members reporting 494 transactions.

This can be attributed to a six per cent fall in house sales, a 12 per cent fall in unit sales, and a three per cent fall in vacant land sales over the week.

Interestingly, there was more activity at the higher end of the market with dwelling sales priced at more than $2,000,000 increasing to nine this week.  For comparison, the four week average is five sales per week.

Listings for sale

There were 13,594 properties for sale in Perth at the end of this week, which is in line with last week.

A closer look at listing stock levels shows house listings remained stable, whilst listings for units and vacant land increased by one per cent.

This week’s total figure is four per cent lower than levels seen four weeks ago, but are two per cent higher than levels seen a year ago.

Perth rental market

REIWA members reported there were 7,775 properties for rent in Perth at the end of this week, which is two per cent less than last week.

This week’s rental listings figure is five per cent lower than four weeks ago, and are 24 per cent lower than the same time last year.

Source: www.reiwa.com.au