Perth market snapshot for the week ending 24 May 2020

Sales activity increased 16 per cent in Perth this week, with REIWA members reporting 590 transactions.

This increase can be attributed to a 18.6 per cent increase in house sales, 4.3 per cent decrease in unit sales and 31.8 per cent increase in vacant land sales over the week.

This week’s sales of 590 compares to 413 four weeks ago and 475 one year ago.

Properties for sale

There were 11,567 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 one per cent, listings for units decreased by 0.5 per cent and vacant land listings increased 1.4 per cent.

This week’s total figure for properties listed for sale is 2.8 per cent lower than levels seen four weeks ago and 30 per cent lower than levels seen a year ago.

Perth rental market

REIWA members reported there were 5,028 properties for rent in Perth at the end of this week, which is 2.6 per cent less than last week.

This week’s rental listings figure is 11.7 per cent lower than levels seen four weeks ago and is 31.5 per cent lower than levels seen a year ago.

Leasing activity decreased 9.8 per cent in Perth this week, with REIWA members reporting 946 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