Perth market snapshot for the week ending 29 September 2019

Sales activity increased 24 per cent in Perth this week, with REIWA members reporting 675 transactions compared to 551 last week.

The strong sales activity is the highest weekly reading since August 2017.

This increase can be attributed to a 21 per cent rise in house sales, 16 per cent rise in unit sales and 50 per cent rise in vacant land sales over the week.

Listings for sale

There were 13,749 properties for sale in Perth at the end of this week, which is one per cent less than last week.

This week’s total figure is 11 per cent lower than levels seen a year ago and the lowest since October 2014.

Perth rental market

REIWA members reported there were 6,187 properties for rent in Perth at the end of this week, which is two per cent less than last week.

This week’s rental listings figure is six per cent lower than levels seen four weeks ago and are 19 per cent lower than levels seen a year ago.

Leasing activity increased one per cent in Perth this week with REIWA members reporting 1,019 properties leased.

Quarterly median price data

Data in this graph is revised periodically as more transactions settle. The latest quarterly house, unit and land sales are an estimate.

SOURCE: www.reiwa.com.au