Perth market snapshot for the week ending 16 April 2023

As expected with the Easter long weekend, sales activity decreased by 14.6 per cent in Perth last week, with REIWA members reporting 793 transactions. A closer look shows house sales decreased by 11.4 per cent, unit sales decreased by 7.1 per cent and vacant land sales declined by 53.3 per cent.

Properties for sale

There were 6,833 properties for sale in Perth at the end of last week, which is similar to the previous week. This can be attributed to listings for houses, units and vacant land all remaining relatively stable.

Last week’s total figure of properties available for sale is 5.9 per cent lower than levels seen four weeks ago and 11.9 per cent lower than levels seen a year ago.

Properties for rent

In Perth’s rental market, REIWA members reported there were 2,081 properties for rent in Perth at the end of last week, which is 4.4 per cent higher than the previous week. Last week’s rental listings figure is 5.8 per cent higher than four weeks ago but 11.9 per cent lower than a year ago.

REIWA members reported 500 properties leased last week, which is 2.7 per cent lower than the previous week, 19.6 per cent lower than four weeks ago and 11.5 per cent lower than levels seen a year ago.

Median price data

Price data last updated 21 April 2023 containing transactions for the 12 month period ending March 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.