Perth weekly market snapshot for the week ending 31 December 2023

Sales transactions in Perth last week were 76 per cent lower than the previous week, with REIWA members reporting 217 transactions. A closer look shows house sales were 74.7 per cent lower than the week prior, unit sales were down 78.9 per cent and vacant land sales were down 76.7 per cent.

Top performing suburbs – sales

Halls Head – 8
Baldivis – 5
East Perth – 5
Greenfields – 5
Balga – 4

Perth’s highest sale price: Mount Pleasant – $1,180,000

Perth’s lowest sale price: Safety Bay – $380,000

There were 3,648 properties for sale in Perth at the end of last week, which is 8.2 per cent lower than the previous week. This can be attributed to house listings decreasing 8.6 per cent compared to the week prior, unit listings decreasing 8.2 per cent and vacant land listings decreasing 7.6 per cent.

Last week’s total figure of properties available for sale is 23.6 per cent lower than four weeks ago and 48.9 per cent lower than levels seen a year ago.

In Perth’s rental market, REIWA members reported there were 1,518 properties for rent in Perth at the end of last week, which is similar to the week prior. Last week’s rental listings figure is 21.3 per cent lower than four weeks ago but 4.7 per cent higher than a year ago.

Top performing suburbs – rentals

Perth – 8
Baldivis – 5
Attadale – 3
East Perth – 3
Nedlands – 3

REIWA members reported 145 properties leased last week, which is 80.9 per cent lower than the previous week, 77.6 per cent lower than four weeks ago and 5.2 per cent lower than a year ago.

Median price data

Median price data last updated 5 January 2024 containing transactions for the 12 month period ending December 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.