Perth weekly market snapshot for the week ending 2 July 2023

Sales transactions increased in Perth last week, with REIWA members reporting 891 transactions. A closer look shows house sales remained stable while unit sales decreased by 2 per cent and vacant land sales increased by 98.4 per cent.

There were 5,328 properties for sale in Perth at the end of last week, which is 2.4 per cent lower than the previous week. This can be attributed to listings for houses remaining stable, while listings for units declined 3 per cent and listings for vacant land declined 5.3 per cent.

Last week's total figure of properties available for sale is 4.7 per cent lower than levels seen four weeks ago and 38 per cent lower than levels seen a year ago.

In Perth's rental market, REIWA members reported there were 2,110 properties for rent in Perth at the end of last week, which is 3.6 per cent lower than the previous week. Last week's rental listings figure is 2.1 per cent higher than four weeks ago but 8.3 per cent lower than a year ago.

REIWA members reported 700 properties leased last week, which is 6.9 per cent higher than the previous week, 25.4 per cent higher than four weeks ago and 6.4 per cent more than a year ago.

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

Source: https://reiwa.com.au/news/perth-weekly-market-snapshot-for-the-week-ending-2-july-2023/