Perth’s housing market remained active in late August, with sales and leasing activity both rising, while strong migration-driven demand continues to tighten supply.
Sales transactions in Perth rose 3.5% in the week ending Aug. 24, with REIWA members reporting 825 transactions.
Breaking down the figures:
House sales increased 2.5% compared to the previous week
Unit sales jumped 13.5%
Land sales fell 8.3%
The top-performing suburbs for sales were Baldivis (13), Perth (13), Maylands (11), Scarborough (11), and Byford (10).
Perth’s sales ranged from a high of $5.9 million in South Perth to a low of $270,000 in Mandurah.
There were 3,145 properties for sale in Perth at the end of the week, down 0.7% from the previous week. This reflected:
A 2.6% decrease in house listings
A 3.6% decrease in unit listings
A 9.8% increase in land listings
Total sales listings are now 6.8% lower than four weeks ago and 9.3% lower than a year ago.
The median days on market has dropped to 12, forcing buyers to act quickly.
On the rental side, 2,234 properties were available for rent, down 3.4% on the week prior. This figure was 6.9% lower than four weeks ago and similar to levels a year earlier.
The top rental suburbs were Baldivis (28), Perth (17), Rockingham (15), East Perth (12), and West Perth (12).
REIWA members reported 738 properties leased last week – a strong result that was:
9.3% higher than the previous week
5.7% higher than four weeks ago
12% higher than the same week last year
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