Perth Market Snapshot for the week ending 23 June

Sales activity remained steady in Perth this week, with REIWA members reporting 585 transactions – five more than last week.

This increase can be attributed to a 1.1 per cent decrease in house sales, a nine per cent rise in unit sales and a two per cent rise in vacant land sales over the week.

The level in sales activity is the highest weekly total that has been recorded since November 2018.

Listings for sale

There were 15,713 properties for sale in Perth at the end of this week, which is 0.23 per cent less than last week.

A closer look at listing stock levels shows house listings decreased by 1.82 per cent, whilst listings for units and vacant land both essentially remained steady.

This week’s total figure is five per cent lower than levels seen four weeks ago, and are 3.94 per cent lower than levels seen a year ago.

Perth rental market

REIWA members reported there were 7,504 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 two per cent higher than levels seen four weeks ago, but are 13 per cent lower than levels seen a year ago.

SOURCE: www.reiwa.com.au