Perth Market Snapshot for the week ending 17 March

Sales activity increased 10 per cent in Perth this week, with REIWA members reporting 581 transactions.

This increase can be attributed to a 10 per cent rise in house sales and a 24 per cent rise in vacant land, while unit sales were unchanged.

Perth’s top selling suburbs this week were Baldivis, Gosnells, Rivervale, Bayswater and Mount Lawley.

Listings for sale

There were 17,044 properties for sale in Perth at the end of this week, which is one per cent more than last week.

A closer look at listing stock levels shows house and unit listings both increased by one per cent while vacant land listings decreased by one per cent.

This week’s total figure is on par with levels seen four weeks ago and are three per cent higher than levels seen a year ago.

Perth’s rental market

REIWA members reported there were 6,706 properties for rent in Perth at the end of this week, which is one per cent more than last week.

This week’s rental listings figure is on par with levels seen four weeks ago and are 25 per cent lower than levels seen a year ago.

SOURCE: www.reiwa.com.au