Perth weekly market snapshot for the week ending 3 March 2024

Sales transactions in Perth last week were up 5.2 per cent on the previous week, with REIWA members reporting 1,054 transactions. A closer look shows house sales were up 2.2 per cent compared to the week prior, unit sales were up 3.3 per cent and land sales were up 38.2 per cent.

Top performing suburbs – sales

Baldivis – 26
Perth – 19
Scarborough – 15
Mandurah – 14
Mount Lawley – 13

Perth’s highest sale price: East Perth – $3,250,000

Perth’s lowest sale price: Perth – $321,000

There were 3,962 properties for sale in Perth at the end of last week, which is 3.4 per cent lower than the previous week. This can be attributed to house listings decreasing 3.1 per cent compared to the week prior, unit listings decreasing 1.8 per cent and listings for vacant land decreasing 6.7 per cent.

Last week’s total figure of properties available for sale is 3 per cent higher than four weeks ago and 44.2 per cent lower than levels seen a year ago.

In Perth’s rental market, REIWA members reported there were 1,683 properties for rent in Perth at the end of last week, which is 2.9 per cent down on the week prior. Last week’s rental listings figure is 9.6 per cent lower than four weeks ago and 9.3 per cent lower than a year ago.

Top performing suburbs – rentals

Perth – 23
Baldivis – 13
East Perth – 13
West Perth – 13
Como – 10

REIWA members reported 612 properties leased last week, which is 2.7 per cent higher than the previous week, 18.2 per cent lower than four weeks ago and 11.1 per cent higher than a year ago.

Median price data

Median price data last updated 8 March 2024 containing transactions for the 12 month period ending February 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.