Perth weekly market snapshot for the week ending 30 July 2023

Sales transactions increased in Perth last week, with REIWA members reporting 840 transactions. A closer look shows house sales increased 8.6 per cent while unit sales decreased by 3.9 per cent and vacant land sales decreased by 8.3 per cent.

Properties for Sale

There were 5,257 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 declining 3.7 per cent, unit listings increasing 1.1 per cent and vacant land listings increasing 4.4 per cent.

Last week’s total figure of properties available for sale is 1.3 per cent lower than levels seen four weeks ago and 38.5 per cent lower than levels seen a year ago.

Properties for Rent

In Perth’s rental market, REIWA members reported there were 1,877 properties for rent in Perth at the end of last week, which is 5.4 per cent lower than the previous week. Last week’s rental listings figure is 11 per cent lower than four weeks ago and 16.4 per cent lower than a year ago.

REIWA members reported 666 properties leased last week, which is 9.4 percent higher than the previous week but it is 3.8 per cent lower than four weeks ago and similar to a year ago.

Median price data

Median price data last updated 4 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.