Sales activity increased seven per cent in Perth last week, with REIWA members reporting 843 transactions.
This increase can be attributed to a four per cent increase in house sales and a 31 per cent increase in unit sales. However, there was an eight per cent decline in vacant land sales over the week.
Properties for sale
There were 7,816 properties for sale in Perth at the end of last week, which is two per cent more than the previous week.
A closer look at listing stock levels shows house listings increased by five per cent, listings for units increased by one per cent and listings for vacant land decreased by two per cent.
Last week’s total figure is six per cent lower than four weeks ago and 38 per cent lower than a year ago.
Perth rental market
REIWA members reported there were 2,896 properties for rent in Perth at the end of last week, which is eight per cent more than the previous week.
Last week’s rental listings figure is one per cent lower than levels seen four weeks ago and 49 per cent lower than a year ago.
Courtesy of REIWA
Other News
How Property Developers Can Find Success in a Softening Market
Despite the current marketing softening, there is still space for developers and investors to find solid returns if they're strategic with their timing, planning and partnerships. Australia’s property markets are in the middle of a softening period, but Dominique...
Stamp Duty Concession For Seniors a No Brainer
In a struggling economy, many are finding it hard to enter or move within the property market. REIWA together with other property associations, has asked the Western Australian Government to provide a concession on stamp duty for people over 65 who wish…