Sales transactions across Perth rose 10.8% in the week ending May 25, with 1,017 sales reported by REIWA members.
House sales increased 10.4%, unit sales were up 9.8%, and land sales jumped 19%.
Top-selling suburbs for the week were Baldivis (25 sales), Perth (17), South Perth (14), East Perth (13), and Balga (12). The highest recorded sale was a $2.9 million home in Claremont, while the most affordable was in Pinjarra at $392,000.
At the end of last week, there were 4,546 properties for sale in Perth, down 4.2% from the previous week. House listings declined 6.4%, while unit and land listings held steady. Stock levels are now 4.6% lower than four weeks ago, but still 32.2% higher than a year ago.
On the rental side, REIWA members reported 2,371 properties available, relatively unchanged week-on-week. However, leasing activity rose sharply, with 680 properties leased – a 12.6% increase on the previous week and 47.8% higher than four weeks ago.
Leading suburbs for rental activity were Baldivis (21 leases), East Perth (18), Perth (14), Scarborough (13), and Maylands (12).
REIWA expects Perth house prices to rise 10% in 2025, with unit prices likely to grow even faster – well above KPMG’s forecast of 4% and 5% respectively.
Read the REIWA update on LinkedIn. Visit the Perth Market Snapshot graphic for the full update.
