Perth weekly market snapshot for the week ending 22 Oct 2023

Sales transactions in Perth last week were 1.4 per cent higher than the previous week, with REIWA members reporting 987 transactions. A closer look shows house sales were up by 3.1 per cent on the week prior while unit sales were similar to the previous week and vacant land sales were down 11.1 per cent.

Properties for Sale

There were 5,012 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 remaining relatively stable while unit listings decreased 1.2 per cent and vacant land listings decreased by 2.0 per cent.

Last week’s total figure of properties available for sale is similar to four weeks ago but 39.4 per cent lower than levels seen a year ago.

Properties for Rent

In Perth’s rental market, REIWA members reported there were 1,708 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 2.5 per cent higher than four weeks ago and 2.4 per cent higher than a year ago.

REIWA members reported 623 properties leased last week, which is 9.1 per cent higher than the previous week and 6.1 per cent higher than four weeks ago but 5.0 per cent lower than a year ago.

Median price data

Median price data last updated 27 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.