Perth market snapshot for the week ending 24 November 2019

Sales activity remained stable in Perth this week, with REIWA members reporting 647 transactions compared to 648 the previous week.

This decrease can be attributed to a five per cent fall in house sales, a six per cent rise in unit sales, and a 45 per cent rise in vacant land sales over the week.

Properties for sale

There were 14,398 properties for sale in Perth at the end of this week, which is in line with last week.

A closer look at listing stock levels shows house listings remained stable, listings for units decreased by one per cent and listings for vacant land increased by two per cent.

This week’s total figure is one per cent higher than levels seen four weeks ago, but are 19 per cent lower than levels seen a year ago.

Perth rental market

REIWA members reported there were 6,160 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 three per cent higher than levels seen four weeks ago, but are 16 per cent lower than levels seen a year ago.

Leasing activity increased one per cent in Perth this week, with REIWA members reporting 1,003 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.

Listing and rental trends

Data in this graph includes the latest quarterly sales listings with average selling days for the Perth Metro region and median weekly rents with vacancy rates for houses and units. The preliminary median weekly rent and vacancy rate figures are an estimate.

 

SOURCE: www.reiwa.com.au