Activity slows down in Perth

By Mark Rosanes | 12 Nov 2020

Perth’s property market has experienced a marginal decrease in sales activity over the previous week, according to the latest figures from the Real Estate Institute of Western Australia (REIWA).

REIWA recorded 910 transactions in the week ending 8 November – a 1% decline from 933 in the last week of October but a nearly 45% jump from the 628 in same period last year.

Houses made up most sales at 624, dropping 7% from the previous week. REIWA also reported a total of 155 apartment units and 131 vacant land sold, an increase of 5% and 25%, respectively.

Scarborough, Morley, Ellenbrook, and Bassendean were the top-selling suburbs north of the Swan River, while Como, Canning Vale, Byford, and Spearwood posted the highest sales down south.

In terms of stock, the Western Australian capital registered 10,221 properties for sale from 2 to 8 November, a 1% rise week-on-week but a 28% decline year-on-year.

Total house listings were at 5,086, a 2% uptick from the previous week. Listings for units also increased 1% to 2,552 while vacant land stock dropped 1% to 2,583.

Rental activity in Perth also slowed down during the past week, totalling 772 transactions, a slightly more than 2% decline from 789 in the last week of October. Year-on-year, the number fell 17%.

Of the properties that were successfully rented, 436 were houses and 336 were apartment units.

REIWA reported 2,814 properties for rent in Perth at the end of last week, 1% higher than the previous week, 5% lower than the previous month, and a 54% decrease from last year. The listings consisted of 1,476 houses and 1,338 apartment units.

East Perth, Perth City, Baldivis, and Maylands registered the highest number of leased properties, while the first two suburbs, along with South Perth and West Perth, reported the greatest number of available rentals.

Top Suburbs : homebush , hebersham , gladesville , goulburn , canterbury


Get help with your investment property

Do you need help finding the right loan for your investment?

When investing in property, it is important to make sure that you not only have the lowest available rate that you can get, but also have the correct loan features for your needs.

Just fill in a few details below and we'll then arrange for a local mortgage broker to contact you and work out what features or types of loans are right for your needs. We'll even help with the paperwork. Plus an appointment is free.

How soon would you like a mortgage?
What is your Annual Household Income i $
Do you currently own any Investment Properties?
Do you own your own residence?
How much equity do you have in all your current properties?
First Name
Last Name
Where do you live?
What number can we reach you on?
E-mail address
We value your privacy and treat all your information seriously - you can check out our privacy policy here