The week ending July 15 saw 14,261 properties for sale in Perth, with the number of houses for sale increasing by one percent over last week. Unit and land listings similarly grew by two and one percent, respectively, over the same time period.
The numbers recorded in this week’s listings were two percent lower than in June, and four percent higher than July 2017.
Even as Perth’s sales activity dropped two percent week on week, both house and unit sales rose –up by two percent and 19%, respectively – during the second week of July, according to real estate firm REIWA.
With a total of 504 transactions, reduced sales activity saw an overall decline in land sales of 38%.
This might be indicative of the city’s overall market condition, given that REIWA’s June report also showed an overall drop in Perth’s house sales.
Regarding the rental market, REIWA revealed that there were 8,303 properties for rent in Perth during the week. These numbers were equal to those seen one month earlier, and 24% lower than the same time last year. The median rent was $350 per week.
Earlier this month, it was also reported that house sales in Perth’s property market had hit a new low. Overall, private sales took 72 days on average to complete over the three months to June, while auctions took an average of 27 days to complete.
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