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Perth Market Snapshot for the week ending 9 June |
Sales activity decreased 16 % across Perth this week, with REIWA members reporting 478 transactions.
The decrease in sales reported can be attributed to a 15% fall in house sales, 11% rise in unit sales and 51% fall in vacant land sales over the week.
These figures are quite different to those seen in May, in May REIWA members reported a 10% fall in house prices and only a 1% decline in unit sales.
Listings For Sale
There were 16,109 properties for sale in Perth at the end of this week, which is in line with last week. However this is 442 less than numbers seen in May 2019.
A closer look at listing stock levels shows house listings decreased by one per cent, listings for units remained stable and listings for vacant land remained stable.
This week’s total figure is 3% lower than levels seen four weeks ago, and are 1% lower than levels seen a year ago which is almost the same as reported in May 2019 being only 1% lower than March.
Perth Rental Market
REIWA members reported there were 7,380 properties for rent in Perth at the end of this week, which is 2% cent more than last week.
This week’s rental listings figure is 1% higher than levels seen four weeks ago, but are 15 % lower than levels seen a year ago.
Although the levels are lower than a year ago, at Professionals Prowest Real Estate, we are finding we are receiving a higher volume of attendance at home opens and are receiving more applications for properties at every new home open. Our properties are being leased quickly and efficiently.
View REIWA’s Perth Market Snapshot graph for a detailed breakdown of the past week.
Disclaimer: The information contained herein have been sourced directly from reiwa.com.au. However, the above article/s have been slightly altered with information from Professionals Prowest Real Estate’s statistics.
