Perth market snapshot for the week ending 7 June 2020

Sales activity decreased six per cent in Perth this week, with REIWA members reporting 593 transactions.

This decrease can be attributed to a 15 per cent fall in house sales, one per cent fall in unit sales and 35 per cent rise in vacant land sales over the week.

Properties for sale

There were 11,319 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 remained stable and listings for vacant land increased by one per cent.

This week’s total figure is three per cent lower than levels seen four weeks ago and are 30 per cent lower than levels seen a year ago.

Perth rental market

REIWA members reported there were 4,676 properties for rent in Perth at the end of this week, which is three per cent less than last week.

This week’s rental listings figure is 16 per cent lower than levels seen four weeks ago and are 38 per cent lower than levels seen a year ago.

Leasing activity decreased 16 per cent in Perth this week, with REIWA members reporting 803 properties leased. The decline in leasing activity can be attributed to the WA Day holiday last week.

Compared to the same week last year, leasing activity is eight per cent higher, an encouraging improvement.

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.