REIWA Market Update September 2023

Sales transactions in Perth last week were 15.5 per cent higher than the previous week, with REIWA members reporting 1,013 transactions. A closer look shows house sales were up 3.6 per cent on the week prior while unit sales were up 40.6 per cent and vacant land sales were up 61.6 per cent.

There were 5,034 properties for sale in Perth at the end of last week, which is 2.7 per cent lower than the previous week. This can be attributed to listings for houses decreasing 2.1 per cent, unit listings decreasing 3.7 per cent and vacant land listings also decreasing 2.6 per cent on the previous week.

Last week’s total figure of properties available for sale is 4.6 per cent lower than levels seen four weeks ago and 37.8 per cent lower than levels seen a year ago.

In Perth’s rental market, REIWA members reported there were 1,666 properties for rent in Perth at the end of last week, which is relatively stable with the week prior. Last week’s rental listings figure is 1.9 per cent higher than four weeks ago and stable with figures seen a year ago.

REIWA members reported 591 properties leased last week, which is 1.7 per cent higher than the previous week, relatively stable compared to four weeks ago and 6.8 per cent higher than a year ago.