Perth market snapshot for the week ending 14 May 2023

Sales transactions were down 9.3 per cent in Perth last week, with REIWA members reporting 898 transactions. A closer look shows house sales decreased by 6.9 per cent, unit sales increased by 2.8 per cent, and vacant land sales decreased by 49.5 per cent.

Properties for Sale

There were 6,157 properties for sale in Perth at the end of last week, which is 2.1 per cent lower than the previous week. This can be attributed to listings for houses decreasing by 3.5 per cent, listings for units decreasing by 2.0 per cent and listings for land remaining relatively stable.

Last week’s total figure of properties available for sale is 9.9 per cent lower than levels seen four weeks ago and 25.8 per cent lower than levels seen a year ago.

Properties for Rent

In Perth’s rental market, REIWA members reported there were 2,047 properties for rent in Perth at the end of last week, which is an increase of 0.9 per cent compared with the previous week. Last week’s rental listings figure is 1.6 per cent lower than four weeks ago and 16.6 per cent lower than a year ago.

REIWA members reported 634 properties leased last week, which is 3.4 per cent lower than the previous week, 28.6 per cent higher than four weeks ago and 9.3 per cent lower than levels seen a year ago.

Median price data

Median price data last updated 19 May 2023 containing transactions for the 12 month period ending April 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.

SOURCE: www.reiwa.com.au