Perth Market Snapshot for the week ending 12 May

Sales activity increased eight per cent in Perth this week, with REIWA members reporting 534 transactions.

This increase can be attributed to a 12 per cent increase in house sales and a 13 per cent increase in unit sales, however vacant land sales declined by 21 per cent.

Perth’s top selling suburbs this week were Baldivis, Scarborough, Wembley, Duncraig and Subiaco.

Listings for sale

There were 16,560 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, listings for units decreased by one per cent and listings for vacant land remained stable.

This week’s total figure is three per cent lower than four weeks ago and are unchanged from levels recorded this time last year.

Perth rental market

REIWA members reported there were 7,317 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 five per cent higher than four weeks ago and 18 per cent lower than a year ago.

SOURCE: www.reiwa.com.au