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.
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