Perth market snapshot for the week ending 5 February 2023

Sales activity increased by 25.1 cent in Perth last week, with REIWA members reporting 1,036 transactions. A closer look shows house sales increased by 20 per cent, unit sales increased by 20.8 per cent and vacant land sales increased by 141.2 per cent.

Properties for sale

There were 6,993 properties for sale in Perth at the end of last week, which is down 2 per cent compared with the previous week. This can be attributed to house listings decreasing by 2.8 per cent and unit listings decreasing by 2.3 per cent while vacant land listings were relatively stable.

Last week’s total figure of properties available for sale is 1.7 per cent lower than levels seen four weeks ago and 12.3 per cent lower than levels seen a year ago.

Properties for rent

In Perth’s rental market, REIWA members reported there were 1,851 properties for rent in Perth at the end of last week, which is 2.8 per cent lower than the previous week. Last week’s rental listings figure is 1.4 per cent higher than levels seen four weeks ago but 21.5 per cent lower than a year ago.

REIWA members reported 728 properties leased, which is 26.2 per cent higher than the previous week, 106.2 per cent higher than levels seen four weeks ago and 3.3 per cent higher than levels seen a year ago.

Median price data

Price data last updated 10 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.