Home-sales activity in Perth dropped 9% during the week ending April 21. There were 464 transactions in total based on the data from Real Estate Institute of Western Australia (REIWA).
The decrease could be associated with the 12% decline in house and unit sales. However, land sales rose 12% during the week.
Suburbs Canning Vale, Dianella, Thornlie, Maylands, and East Fremantle recorded the most sales.
In terms of listings, the number of properties for sale slid by 1% to 16,922 compared to the previous week.
House and unit listings declined by 1%, while listings for vacant land remained stable.
The total figure during the week is 2% lower than four weeks ago and 1% higher than a year ago.
REIWA members reported there were 7,044 properties for rent in Perth at the end of the week —up by 1% compared to the preceding week.
Rental listings trend upwards with the current figure being 5% higher than four weeks ago. This is an encouraging indicator after REIWA recently disclosed that there were 6,738 properties listed for rent in the market in the March quarter —down 2% compared to the December quarter.
The weekly result, though, is 22% lower than a year ago.
