Perth Real Estate Market February Update

Disclaimer: Information contained herein have been sourced directly from reiwa.com.au The article/s below have been slightly altered.

Perth Market Snapshot for the week ending on 3rd March 2019

Sales activity increased two per cent in Perth this week, with REIWA members reporting 639 transactions.
This is the third consecutive week where weekly sales have exceeded 550 and is the first time since March 2018 that sales volumes have exceeded 600 for two consecutive weeks.

This week statistics, as reported from reiwa, showed there were 16,846 properties For Sale in Perth, which is two per cent less than last week and five per cent higher than results reported a year ago. A closer shows there were 10,315 houses for sale, 3,294 units for sale and 3,237 vacant land listings for sale.

In the Perth Rental market, members reported there was a total of  1,068 properties leased during the week, these figures are eight per cent less than the week prior but was in line with levels seen four weeks ago. The median house price has remained at $350.00 per week however in some suburbs around Perth prices have shown minor increases.
There were 6,568 properties listed for rent in Perth at the end of this week, which is similar to levels recorded last week and 27 per cent lower than the same time last year.

Read our next article for further information on how the real estate market went in February 2019 overall HERE.