Sales transactions in Perth last week remained relatively stable compared with the previous week, with REIWA members reporting 871 transactions.
House sales were up 7.1% compared to the week prior, unit sales rose 4.2%, while land sales dropped 40.8%.
Highest sale price: Hillarys – $2,450,000
Lowest sale price: Mosman Park – $386,000
There were 2,841 properties for sale in Perth at the end of last week, 3% lower than the previous week. House listings fell 4%, unit listings dropped 2.6%, while vacant land was steady.
Last week’s figure is 4.7% lower than four weeks ago and 29.9% lower than a year ago.
This stability comes against the backdrop of new REIA data showing Perth’s inner suburbs led house price growth in the June quarter, with median values up 4.7%. Across the city, the overall median house price rose 1.9% to $815,000 – up 9.2% over the year.
In the rental market, REIWA members reported 2,063 properties for rent, down 2.7% from the week prior. Rental listings were 7.6% lower than four weeks ago and 1.2% below levels from a year ago.
Top performing suburbs – rentals
REIWA members reported 686 properties leased last week, up 2.2% from the week before, 2.3% lower than four weeks ago, but 35.8% higher year-on-year.
REIA president Suzanne Brown said demand remains strongest in inner Perth, where proximity to jobs and lifestyle continues to attract buyers and renters.
“Living close to the convenience of the city, and reduced travel times, remain a factor for buyers and renters alike,” Brown said.
She noted eastern states investors are active in Perth, while first-home buyer demand is expected to rise from October under the expanded First Home Guarantee Scheme.
Head over to REIWA's Perth Market Snapshot graphic for a complete breakdown of the past week. To read the REIWA report, visit the association's webpage or see this LinkedIn post.
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