Perth market snapshot for the week ending 1 January 2023

Sales activity decreased 73.6 per cent in Perth last week, with REIWA members reporting only 203 transactions. This significant temporary decrease was to be expected due to the time of the year and number of public holidays.

Properties for sale

There were 7,144 properties for sale in Perth at the end of last week, which is down 5.7 per cent down compared with the previous week. This can be attributed to a 5.2 per cent decrease in house listings, 6.6 per cent decrease in unit listings and 6 per cent decrease in vacant land listings.

Last week’s total figure of properties available for sale is 15.7 per cent lower than levels seen four weeks ago and 10.6 per cent lower than levels seen a year ago.

Properties for rent

In Perth’s rental market, REIWA members reported there were 1,450 properties for rent in Perth at the end of last week, which is similar to the previous week. Last week’s rental listings figure is 22.7 per cent lower than levels seen four weeks ago and 23 per cent lower than a year ago.

REIWA members reported 155 properties leased, which is 78.4 per cent lower than the previous week due to the time of the year.

Median price data

Price data last updated 10 January 2023 containing transactions for the 12 month period ending December 2022

Listing and rental trends

Data in these graphs is for houses and units in the Perth Metro region. The Listing graph includes the latest sales listings with median days to sell. The Rental graph includes the median weekly rents and median days to rent.