Perth market snapshot for the week ending 12 February 2023

Sales activity decreased by 10.9 cent in Perth last week, with REIWA members reporting 917 transactions. A closer look shows house sales decreased by 10.5 per cent, unit sales decreased by 4.5 per cent and vacant land sales decreased by 30.5 per cent.

Properties for sale

There were 7,143 properties for sale in Perth at the end of last week, which is up 2.1 per cent compared with the previous week. This can be attributed to house listings increasing by 1.9 per cent, unit listings increasing by 2.5 per cent and vacant land listings increasing by 2.3 per cent.

Last week’s total figure of properties available for sale is similar to levels seen four weeks ago but it is 10.5 per cent lower than levels seen a year ago.

Properties for rent

In Perth’s rental market, REIWA members reported there were 1,802 properties for rent in Perth at the end of last week, which is 2.6 per cent lower than the previous week. Last week’s rental listings figure is 9.7 per cent lower than levels seen four weeks ago and 23.2 per cent lower than a year ago.

REIWA members reported 676 properties leased, which is 6.8 per cent lower than the previous week, 12.5 per cent higher than levels seen four weeks ago and 3.6 per cent lower than levels seen a year ago.

Median price data

Price data last updated 17 February 2023 containing transactions for the 12 month period ending January 2023

Sales data is annual up to the latest completed month. Rental data is year-on-year 3-month rolling up to the latest completed month. Data in this graph is revised as more transactions are settled.

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.