Perth’s property market experienced a notable dip last week, influenced by the timing of two public holidays coinciding with school holidays. According to REIWA, sales activity dropped by 36.3 percent compared to the previous week, with a total of 564 transactions reported. A breakdown of the figures shows house sales declined by 38.9 percent, unit sales were down 34.2 percent, and land sales fell by 10.6 percent.

Perth, Baldivis, Burswood, Rockingham, and Aveley were the top-performing suburbs for sales last week. Perth led the way with 12 properties sold, followed by Baldivis with 10, Burswood and Rockingham with 9 each, and Aveley with 8. The highest recorded sale price in Perth was in Burswood, reaching $1.4 million, while the most affordable sale was in Inglewood, coming in at $512,500.

At the end of last week, there were 4,764 properties listed for sale across Perth, marking a 2.9 per cent increase from the previous week. This rise was driven by a 4.1 per cent jump in house listings and a 1.4 per cent increase in unit listings, while vacant land listings remained relatively unchanged. Despite the weekly lift, the total number of properties for sale is 6.4 per cent lower than it was four weeks ago, though it sits 30.8 per cent higher than the same time last year.

In the rental market, REIWA members reported 2,282 properties available for rent in Perth at the end of last week, representing a 1.6 per cent rise from the previous week. The total number of rental listings is also 8 per cent higher than four weeks ago and 8.9 per cent above the level recorded this time last year.

Baldivis, Scarborough, Perth, Rivervale, and South Perth were the top-performing suburbs for rentals last week, with Baldivis leading the way at 17 properties leased, followed by Scarborough with 11, and Perth, Rivervale, and South Perth each with 8. REIWA members reported a total of 463 properties leased, reflecting a 20.4 percent decline compared to the previous week. This figure is also 36.3 percent lower than four weeks ago and 18.8 percent down from the same time last year.