Perth market snapshot for the week ending 23 April 2023

As expected following the Easter long weekend, sales activity increased significantly. Sales transactions were up 30.2 per cent in Perth last week, with REIWA members reporting 1,021 transactions. A closer look shows house sales increased by 29.6 per cent, unit sales increased by 33.3 per cent and vacant land sales increased by 26.2 per cent.

Last week’s total figure of properties available for sale is 9.5 per cent lower than levels seen four weeks ago and 17.1 per cent lower than levels seen a year ago.

Properties for rent

In Perth’s rental market, REIWA members reported there were 2,031 properties for rent in Perth at the end of last week, which is 3.3 per cent lower than the previous week. Last week’s rental listings figure is 3.2 per cent higher than four weeks ago but 16.8 per cent lower than a year ago.

REIWA members reported 673 properties leased last week, which is 36.2 per cent higher than the previous week, 1.1 per cent higher than four weeks ago and 17.7 per cent higher than levels seen a year ago.

Median price data

Price data last updated 28 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.