Perth weekly market snapshot for the week ending 12 Nov 2023

Sales transactions in Perth last week were 12.7 per cent lower than the previous week, with REIWA members reporting 1,010 transactions. A closer look shows house sales were down 4.9 per cent on the week prior, unit sales were down 12.9 per cent and vacant land sales were down 47.5 per cent.

Top performing suburbs – sales

Perth – 17
Gosnells – 15
Baldivis – 14
Dianella – 13
Ellenbrook – 13

Perth’s most expensive sale: North Fremantle – $3,350,000

Perth’s most affordable sale: Orelia – $210,000

There were 4,903 properties for sale in Perth at the end of last week, which is 1.1 per cent higher than the previous week. This can be attributed to listings for houses increasing 4.2 per cent while unit listings decreased 2.3 per cent and vacant land listings decreased 1.9 per cent.

Last week’s total figure of properties available for sale is 2.6 per cent lower than four weeks ago and 41.5 per cent lower than levels seen a year ago.

In Perth’s rental market, REIWA members reported there were 1,824 properties for rent in Perth at the end of last week, which is 4.9 per cent higher than the week prior. Last week’s rental listings figure is 7.9 per cent higher than four weeks ago and 2.9 per cent higher than a year ago.

Top performing suburbs – rentals

East Perth – 20
Perth – 19
Baldivis – 14
Mandurah – 11
Maylands – 10

REIWA members reported 563 properties leased last week, which is 9.3 per cent lower than the previous week, similar to four weeks ago and 9.8 per cent lower than a year ago.

Median price data

Median price data last updated 17 November 2023 containing transactions for the 12 month period ending October 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.