Perth weekly market snapshot for the week ending 26 May 2024

Sales transactions in Perth last week were up 9.8 per cent on the previous week, with REIWA members reporting 967 transactions. A closer look shows house sales were up 3.7 per cent compared to the week prior, unit sales were up 27.5 per cent and land sales were up 15.3 per cent.

Top performing suburbs – sales

1. East Perth – 24
2. Baldivis – 15
3. Como – 13
4. Ellenbrook – 13
5. Joondalup – 13

Perth’s highest sale price: Perth – $1,900,000

Perth’s lowest sale price: East Perth – $240,000

There were 3,438 properties for sale in Perth at the end of last week, which is 2.1 per cent lower than the previous week. This can be attributed to house listings decreasing 1.5 per cent compared to the week prior, unit listings decreasing 6 per cent and listings for vacant land increasing 3.7 per cent.

Last week's total figure of properties available for sale is 5.6 per cent lower than four weeks ago and 41.6 per cent lower than levels seen a year ago.

In Perth's rental market, REIWA members reported there were 2,414 properties for rent in Perth at the end of last week, which is 3.8 per cent up on the week prior. Last week's rental listings figure is 15.2 per cent higher than four weeks ago and 22.5 per cent higher than a year ago.

Top performing suburbs – rentals

1. Perth – 26
2. Baldivis – 17
3. East Perth – 16
4. South Perth – 14
5. Maylands – 13

REIWA members reported 681 properties leased last week, which is 7.6 per cent higher than the previous week, 18 per cent higher than four weeks ago and 1 per cent higher than a year ago.

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