Perth Market Snapshot for the week ending 2 June

Sales activity increased 14 per cent in Perth this week, with REIWA members reporting 577 transactions.

This increase can be attributed to a 13 per cent rise in house sales, a one per cent rise in unit sales and a 44 per cent rise in vacant land sales over the week.

The increase in sales activity comes as the average discount accepted by sellers to 7.7 per cent of the original listing price.

Listings for sale

There were 16,184 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 and vacant land listings decreased by three per cent whilst listings for units remained stable.

This week’s total figure is three 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 7,243 properties for rent in Perth at the end of this week.

This week’s rental listing figure is one per cent less than last week and 16 per cent lower than levels seen a year ago.

SOURCE: www.reiwa.com.au