prowest 
REIWA has reported that Perth’s Sales activity remained steady this week, reporting 585 transactions which appears to be five more than last week.
This increase can be attributed to a 1.1% decrease in house sales, a nine per cent rise in unit sales and a two per cent rise in vacant land sales over the week. Similar to our last market update, we can see a reoccurring rise in Unit and Land sales across Perth, WA.
These sales activity levels are the highest weekly total that has been recorded since November 2018.
Listings for sale
Although we are seeing a rise in sales activity, there was 0.23 per cent less than last week with a total number of 15,713 properties listed for sale by the end of the week.
A closer look at listing stock levels shows house listings decreased by 1.82 per cent, whilst listings for units and vacant land both essentially remained steady.
This week’s total figure is five per cent lower than levels seen four weeks ago, and are 3.94 per cent lower than levels seen a year ago.
Perth rental market
With 7,504 properties for rent at the end of this week, REIWA members reported that the listing figures were two per cent higher than those reported back 4 weeks ago and are also thirteen per cent lower than a year ago.
Although these figures may seem detrimental to our rental market, here at professionals prowest we are finding that our properties are moving quickly while having multiple applications being received per properties.. something we haven’t seen in a very long time.
This has been and is currently a major relief for our investor owners, giving a lower vacancy rate and days on market for their properties when a tenant relocates. Thus ensuring the safety of their investment and income.
To find out more about our statistics and how we can help you and your investment in a “slow moving” market, call or email our head of department Julie Jones to organize your FREE, Non-Obligation rental appraisal on 08 9457 5733 / bdm@prowest.com.au
View REIWA’s Perth Market Snapshot graph for a detailed breakdown of the past week/ or simply peruse on the image below, image below has been recreated from REIWA’s information.
