Perth Market Snapshot
4th December, 2019
Sales activity remained stable in Perth this week, with REIWA members reporting 683 transactions compared to 647 the previous week. This increase can be attributed to a 26 per cent rise in vacant land sales and a five per cent rise in house sales, despite a two per cent fall in unit sales and over the week.
Properties for sale
There were 14,044 properties for sale in Perth at the end of this week, which is two per cent less than last week. A closer look at listing stock levels shows house listings decreased by three per cent, listings for units decreased by three per cent and listings for vacant land decreased by two per cent.
This week’s total figure is one per cent lower than levels seen four weeks ago and are 20 per cent lower than levels seen a year ago.
Perth rental market
REIWA members reported there were 6,022 properties for rent in Perth at the end of this week, which is two per cent less than last week. This week’s rental listings figure is two per cent higher than levels seen four weeks ago but are 17 per cent lower than levels seen a year ago.
Leasing activity decreased two per cent in Perth this week, with REIWA members reporting 981 properties leased. Leasing activity has continued a downwards trend in 2019 with a weekly average of 1,003 leases per week, down five per cent from 2018.
Lower leasing levels reflect the slowdown in population growth.