Perth weekly market snapshot for the week ending 18 February 2024

Sales transactions in Perth last week were down 1.7 per cent on the previous week, with REIWA members reporting 957 transactions. A closer look shows house sales down 3.4 per cent compared to the week prior, while unit sales were up 4.1 per cent and land sales were down 3.5 per cent.

Top performing suburbs – sales

1. Baldivis – 25
2. East Perth – 16
3. Mandurah – 16
4. Balga – 14
5. Rivervale – 14

Perth’s highest sale price: South Perth – $4,600,000

Perth’s lowest sale price: Mandurah – $225,000

There were 4,040 properties for sale in Perth at the end of last week, which is 2.1 per cent higher than the previous week. This can be attributed to house listings increasing 3.7 per cent, unit listings increasing 1.6 per cent and vacant land listings decreasing 1.6 per cent.

Last week's total figure of properties available for sale is 4.6 per cent higher than four weeks ago but 44.2 per cent lower than levels seen a year ago.

In Perth's rental market, REIWA members reported there were 1,740 properties for rent in Perth at the end of last week, which is 3.5 per cent lower than the week prior. Last week's rental listings figure is 12.8 per cent lower than four weeks ago and 2.6 per cent lower than a year ago.

Top performing suburbs – rentals

1. East Perth – 24
2. Perth – 22
3. Baldivis – 14
4. Como – 12
5. Maylands – 11

REIWA members reported 658 properties leased last week, which is 4.2 per cent lower than the previous week, 5.9 per cent lower than four weeks ago and 5.6 per cent higher than a year ago.

Visit our Perth Market Snapshot graphic for a complete breakdown of the past week.