Perth Market Snapshot for the week ending 5 May

Sales activity increased 47 per cent in Perth this week after the lull of the Easter and ANZAC holidays, with REIWA members reporting 499 transactions.

This increase can be attributed to a 40 per cent increase in house sales, an 88 per cent increase in unit sales and a 49 per cent rise in vacant land sales.

Perth’s top selling suburbs this week were Canning Vale, Thornlie, Perth, Waikiki and Willetton.

Listings for sale

There were 16,642 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 two per cent, listings for units decreased by two per cent and listings for vacant land decreased by one per cent.

This week’s total figure is two per cent lower than levels seen four weeks ago and one per cent higher than this time last year.

Perth rental market

REIWA members reported there were 7,277 properties for rent in Perth at the end of this week, which is two per cent more than last week.

This week’s rental listings figure is seven per cent higher than levels seen four weeks ago and 19 per cent lower than the same time last year.

SOURCE: www.reiwa.com.au