Perth’s housing market saw a modest uptick in sales last week, with 918 transactions recorded — up 2.1% from the previous week, according to REIWA.
House sales rose 3.8%, while unit sales fell 5.7% and land sales climbed 7.4%, reflecting steady demand in the established market.
The city’s top-selling suburbs were Baldivis (17 sales), Alkimos (13), Canning Vale (13), Mount Lawley (12), and Yokine (12).
Perth’s highest sale for the week was in North Beach ($4.36 million), while the lowest sale was in Armadale ($415,000).
The lift in Perth’s weekly activity aligns with broader national momentum, with Cotality data showing home values climbed 1.9% in Perth during October — the strongest rise of any capital city. Analysts say three rate cuts this year and the government’s 5% deposit scheme have fuelled fresh buyer confidence across both owner-occupier and investor segments.
There were 2,869 properties for sale in Perth at the end of the week — 2.1% lower than the week prior.
House listings declined 1.3%, unit listings increased 1.9%, and vacant land listings dropped 11.1%.
Despite the dip, total listings remain 1.7% higher than a month ago, but are still 42.6% below last year’s levels, underscoring Perth’s ongoing supply shortage.
Nationally, listings have risen modestly through spring, but Cotality’s research shows housing supply remains critically short — with rental vacancies near 1.4% and demand outpacing new construction across most states.
In the rental market, 2,067 properties were available at week’s end — 5.1% down from the previous week and 5.1% lower than four weeks ago.
However, rental listings are 6.5% higher than at the same time last year.
The top leasing suburbs were Perth (22 leased), Alkimos (17), Baldivis (14), East Perth (13), and Armadale (11).
REIWA members reported 707 properties leased during the week — a 6.5% rise from the week prior, 24.9% higher than four weeks ago, and 19% higher year-on-year, highlighting strong tenant demand.
With listings remaining well below long-term averages and buyer demand holding steady, Perth’s housing market is entering summer with renewed momentum.
Both the sales and rental sectors continue to reflect tight supply conditions, suggesting that prices and rents are likely to remain supported through the coming months.
Read the REIWA report and see the Perth Market Snapshot graphic.
Get the hottest and freshest mortgage news delivered right into your inbox. Subscribe now to our FREE daily newsletter.
