Perth Market Snapshot for the week ending 31 March

Sales activity increased 16 per cent in Perth this week, with REIWA members reporting 574 transactions.

This increase can be attributed to an 18 per cent rise in house sales, a 18 per cent rise in unit sales, and a two per cent rise in vacant land sales over the week.

The top selling suburbs this week were Scarborough, Seville Grove, Wembley, Cottesloe and Armadale.

Listings for sale

There were 16,957 properties for sale in Perth at the end of this week, which is two per cent less than last week.

A closer look at listing stock levels shows house listings decreased by one per cent, listings for units decreased by two per cent and listings for vacant land decreased by four per cent.

This week’s total figure is one per cent higher than levels seen four weeks ago and are five per cent higher than levels seen a year ago.

Perth rental market

REIWA members reported there were 6,738 properties for rent in Perth at the end of this week, which is in line with last week.

This week’s rental listings figure is three per cent higher than levels seen four weeks ago, but are 25 per cent lower than levels seen a year ago.

SOURCE: reiwa.com.au