Perth market snapshot for the week ending 10 May 2020

Sales activity increased 32.7 per cent in Perth this week, with REIWA members reporting 527 transactions.

This increase can be attributed to a 45.3 per cent increase  in house sales, five per cent decrease in unit sales and 18.3 per cent increase in vacant land sales over the week.

Properties for sale

There were 11,611 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 decreased by 1.5 per cent, listings for units increased by three per cent and vacant land listings remained the same.

This week’s total figure for properties listed for sale is 5.4 per cent lower than levels seen four weeks ago and is 30 per cent lower than levels seen a year ago.

Perth rental market

REIWA members reported there were 5,420 properties for rent in Perth at the end of this week, which is 3.2 per cent less than last week.

This week’s rental listings figure is four per cent lower than levels seen four weeks ago and is 23 per cent lower than levels seen a year ago.

Leasing activity increased 31.5 per cent in Perth this week, with REIWA members reporting 1,005 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