Perth weekly market snapshot for the week ending 20 August 2023

Sales transactions in Perth last week increased 6.4 per cent compared with the week prior, with REIWA members reporting 863 transactions. A closer look shows house sales increased 5.7 per cent, unit sales increased 9 per cent and vacant land sales increased 5.1 per cent.

Properties for Sale

There were 5,205 properties for sale in Perth at the end of last week, which is 1.3 per cent lower than the previous week. This can be attributed to listings for houses decreasing 1.1 per cent, unit listings decreasing by 1.8% per cent and vacant land listings decreasing 1.3 per cent.

Last week’s total figure of properties available for sale is 1.3 per cent lower than levels seen four weeks ago but 38.6 per cent lower than levels seen a year ago.

Properties for Rent

In Perth’s rental market, REIWA members reported there were 1,701 properties for rent in Perth at the end of last week, which is 7.2 per cent lower than the week prior. Last week’s rental listings figure is 14.3 per cent lower than four weeks ago and 17.2 per cent lower than a year ago.

REIWA members reported 628 properties leased last week, which is 5.2 per cent higher than the previous week and 3.5 per cent higher than four weeks ago but it’s 5.1 per cent lower than a year ago.

Median price data

Median price data last updated 25 August 2023 containing transactions for the 12 month period ending July 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.