Perth market snapshot for the week ending 12 March 2023

Sales activity decreased by 21.9 cent in Perth last week, with REIWA members reporting 871 transactions. A closer look shows house sales decreased by 21.2 per cent, unit sales decreased by 17.6 per cent and vacant land sales decreased by 40.7 per cent. This follows increases of similar percentages the week prior.

Properties for sale

There were 7,160 properties for sale in Perth at the end of last week, which is up 0.8 per cent compared with the previous week. This can be attributed to house listings increasing by 0.6 per cent, unit listings remaining relatively stable and vacant land listings increasing by 1.7 per cent.

Last week’s total figure of properties available for sale is similar to levels seen four weeks ago but it is 9.8 per cent lower than levels seen a year ago.

Properties for rent

In Perth’s rental market, REIWA members reported there were 1,900 properties for rent in Perth at the end of last week, which is 2.4 per cent higher than the previous week. Last week’s rental listings figure is 5.4 per cent higher than four weeks ago but 18.2 per cent lower than a year ago.

REIWA members reported 542 properties leased, which is 3.2 per cent lower than the previous week, 18.7 per cent lower than levels seen four weeks ago and 10.6 per cent lower than levels seen a year ago.

Median price data

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.
Source: Landgate/REIWA

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.

SOURCE: www.reiwa.com.au