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Sales activity in the Western Australian capital has slightly lowered over the last week.
According to a statement from the Real Estate Institute of Western Australia (REIWA), 910 transactions took place over the week ended 8 November.
While house sales did fall by 7 per cent, a corresponding 5 per cent increase in unit sales helped offset the overall sale slump — and so, too, did a 25 per cent increase in vacant land sales.
Despite the 1 per cent drop in sales overall, the amount of properties on the market did see an increase.
With 10,221 properties now on the market in the state capital, listings are up by 1 per cent — partly thanks to a 2 per cent increase in house listings and 1 per cent increase in unit listings.
It’s still not a normal spring selling season for Perth, since listing levels are still 28 per cent lower than what was seen 12 months ago.
Despite this, rental demand is still up.
The REIWA has reported that there were 2,814 properties available for rent at 8 November, which is 5 per cent lower than the number of rentals available at the same time last year.
ABOUT THE AUTHOR
Grace Ormsby
Grace is a journalist across Momentum property and investment brands. Grace joined Momentum Media in 2018, bringing with her a Bachelor of Laws and a Bachelor of Communication (Journalism) from the University of Newcastle. She’s passionate about delivering easy to digest information and content relevant to her key audiences and stakeholders.
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