Perth weekly market snapshot for the week ending 1 Oct 2023

Sales transactions in Perth last week were 14.3 per cent lower than the previous week, with REIWA members reporting 860 transactions. Sales would have been impacted by the public holiday. A closer look shows house sales were down 9.4 per cent on the week prior, unit sales were down 25.4 per cent and vacant land sales were down 17.3 per cent.

Properties for Sale

There were 4,895 properties for sale in Perth at the end of last week, which is 2.8 per cent lower than the previous week. This can be attributed to listings for houses decreasing 0.9 per cent, unit listings decreasing 4.7 per cent and vacant land listings also decreasing 3.9 per cent on the previous week.

Last week’s total figure of properties available for sale is 4.6 per cent lower than levels seen four weeks ago and 39.7 per cent lower than levels seen a year ago.

Properties for Rent

In Perth’s rental market, REIWA members reported there were 1,679 properties for rent in Perth at the end of last week, which is relatively stable compared with the week prior. Last week’s rental listings figure is 1.5 per cent higher than four weeks ago but 2.6 per cent lower than a year ago.

REIWA members reported 482 properties leased last week, which is 18 per cent lower than the previous week, 15.1 per cent lower compared to four weeks ago and 4.4 per cent lower than a year ago.

Median price data

Median price data last updated 6 October 2023 containing transactions for the 12 month period ending September 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