Perth Market Snapshot for the week ending 19 May

Sales activity decreased four per cent in Perth this week, with REIWA members reporting 505 transactions.

This decrease can be attributed to a 10 per cent fall in house sales and a one per cent rise in unit sales, despite a 40 per cent rise in vacant land sales over the week.

Perth’s top selling suburbs this week were Como, East Victoria Park, Dianella, East Perth and Canning Vale.

Listings for sale

There were 16,551 properties for sale in Perth at the end of this week, which is in line with last week.

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

Perth rental market

REIWA members reported there were 7,307 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 four per cent higher than levels seen four weeks ago, but 17 per cent lower than levels seen a year ago.

Source: www.reiwa.com.au