Perth weekly market snapshot for the week ending 11 February 2024

Sales transactions in Perth last week were similar to the previous week, with REIWA members reporting 980 transactions. A closer look shows house sales were similar to the week prior, while unit sales were up 12.8 per cent and land sales were down 17.3 per cent.

Top performing suburbs – sales

Scarborough – 15
East Perth – 14
Como – 13
Ellenbrook – 13
Baldivis – 12

Perth’s highest sale price: Mount Pleasant – $3,850,000

Perth’s lowest sale price: Mount Lawley – $229,000

There were 3,956 properties for sale in Perth at the end of last week, which is 2.9 per cent higher than the previous week. This can be attributed to house listings increasing 3.0 per cent, unit listings increasing 3.5 per cent and vacant land listings increasing 1.5 per cent.

Last week’s total figure of properties available for sale is 4.3 per cent higher than four weeks ago but 44.6 per cent lower than levels seen a year ago.

In Perth’s rental market, REIWA members reported there were 1,803 properties for rent in Perth at the end of last week, which is 3.2 per cent lower than the week prior. Last week’s rental listings figure is 7.7 per cent lower than four weeks ago and similar to a year ago.

Top performing suburbs – rentals

Perth – 22
Baldivis – 17
Armadale – 16
Como – 16
Rivervale – 14

REIWA members reported 691 properties leased last week, which is 8.0 per cent lower than the previous week, 12 per cent higher than four weeks ago and 4.4 per cent higher than a year ago.

Median price data

Median price data last updated 16 February 2024 containing transactions for the 12 month period ending January 2024.

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.