Despite the winter school holidays we have continued to see significant activity from buyers over the past seven days with buyers again finding themselves in competition to secure a property as stock levels remained very low.
The number of properties for sale last week was 3,144, a 6.6 per cent decrease from the previous week. This decline represents a five per cent reduction in house listings, a 9.1 per cent drop in unit listings, and an 8.6 per cent fall in listings for vacant land.
Sales transactions in Perth surged by 25 per cent compared to the previous week, with 1,071 transactions. This impressive increase includes a 12.5 per cent rise in house sales, a remarkable 35.2 per cent jump in unit sales, and an astonishing 97.3 per cent spike in land sales.
As predicted, the start of the winter school holidays has led to a dip in listings in the market, coupled with the strong sales last week, this decrease in stock should correct after the school holidays when we are expecting to see a surge in the number of properties coming to market.
At White House, we had the pleasure of assisting FOUR sets of buyers secure properties the week.
With two offers in competition, 13 Mouquet Vista, White Gum Valley was placed under offer late this week by White Gum Valley’s Number 1 Agent, Louise Pope. We are thrilled for our sellers who are very happy with the result and delighted for our successful buyers who will soon make this lovely community their home.
The gorgeous limestone cottage at 296 South Terrace, South Fremantle saw strong competition with three sets of buyers competing to secure this incredible opportunity. A lovely young couple are thrilled to have been successful and can’t wait to immerse themselves in the buzzing South Fremantle lifestyle.
Stefanie Dobro and Georgia Hagan placed two properties under offer this week. In Fremantle, 15 Chudleigh Street, Fremantle was placed under offer over the weekend to excited buyers. We are so happy for our sellers and buyers as the sale was crucial to our sellers securing another highly coveted local property!
And over in Attadale, 44 Kingsall Road, Attadale was absolutely snapped up by very excited buyers before the first home open! Congratulations to both our sellers and buyers, we are thrilled to have helped you achieve a great result so quickly.
THE RENTAL MARKET
Perth’s rental market saw an uptick in listings, with 2,597 properties for rent at the end of last week, up 4.9 per cent from the previous week. This figure is 4.5 per cent higher than four weeks ago and 22 per cent higher than a year ago, suggesting an expanding rental inventory and more options for tenants.
There were 645 properties leased last week, a 12.6 per cent decrease from the previous week. However, this is still 11.2 per cent higher than four weeks ago and 2.2 per cent higher than a year ago. The decrease in weekly leasing could indicate a temporary market fluctuation, with people away on holiday or taking a break from the property hunt over the school holidays.
