Perth weekly market snapshot for the week ending 17 Sep 2023

Sales transactions in Perth last week were 2.3 per cent lower than the previous week, with REIWA members reporting 877 transactions. A closer look shows house sales were up 8.4 per cent on the week prior while unit sales were down 18.3 per cent and vacant land sales were down 31.8 per cent.

Properties for Sale

There were 5,175 properties for sale in Perth at the end of last week, which is 1.8 per cent higher than the previous week. This can be attributed to listings for houses increasing 1.5 per cent, unit listings increasing 3.1 per cent and vacant land listings remaining similar to the previous week.

Last week’s total figure of properties available for sale is similar to levels seen four weeks ago but 37.7 per cent lower than levels seen a year ago.

Properties for Rent

In Perth’s rental market, REIWA members reported there were 1,664 properties for rent in Perth at the end of last week, which is 1.0 per cent higher than the week prior. Last week’s rental listings figure is 2.2 per cent lower than four weeks ago and 6.3 per cent lower than a year ago.

REIWA members reported 581 properties leased last week, which is 2.5 per cent higher than the previous week but 6.4 per cent lower than four weeks ago and 14.7 per cent lower than a year ago.

Median price data

Median price data last updated 22 September 2023 containing transactions for the 12 month period ending August 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.