THE LOCAL MARKET
REIWA is reporting a tightening supply of properties for sale again with just 3,552 properties available to buy—a decrease of 2.5 per cent from the previous week. Compared to four weeks ago, the number of properties for sale is down by 3.8 per cent, and significantly down by 43.6 per cent from last year.
Sales transactions in Perth held steady last week with 987 total transactions reported by REIWA members. Houses matched the previous week’s performance, unit sales rose by a strong 8.8 per cent, and land sales saw a dip of 26.3 per cent.
White House Property Partners we had a record number of sales both in number and in value of properties SOLD in March and again in April with over $30 million in property sold in April. We are seeing some new suburb and street record prices being achieved in a number of our local areas. As such, these recent results may be having an impact on what you might be able to achieve in the current market or how much equity you may now have in your property.
At White House, armed with the latest sales evidence, available to assist with appraisals and price updates. If you have had any thoughts of selling or would simply curious to understand what sales are happening in your local area and what impact that might have on the equity in your home, please reach out. We are here to help.
At White House we were pleased to help THREE of our sellers move forward while helping three groups of buyers secure new homes.
Advisor & Negotiator, Carlie Baker helped two families secure their next home with the purchases of 83 Sanctuary Drive, Bertram and 6 Times Street, Harrisdale.
Catherine Fenna, with the support of Stefanie Dobro, helped a young buyer secure the apartment at 8/3 Silas Street, East Fremantle after just four days on the market.
Stock levels remain incredibly tight.
DEPARTMENT OF PROPERTY MANAGEMENT
We are seeing a slight softening of the rental market with an increase in the number of properties available to rent. REIWA is reporting there were 2,216 properties available for rent in Perth, up 5.7 per cent from the previous week. Compared to four weeks ago, this represents a 12.9 per cent increase, and is now 9.2 per cent higher than this time last year.
In total, 660 properties were leased last week, a 14.4 per cent rise from the previous week and a 33.3 per cent increase over four weeks ago.
Despite these improvements, the rental market remains relatively tight, emphasising the need for renters to be decisive and strategic in securing their next home.
Perth’s property market continues to reflect competitive sales and rental conditions. For sellers, low supply continues to create favourable conditions, particularly for houses and units in high-demand suburbs. Renters should expect ongoing competition but can take advantage of more listings available to rent than last month.
If you have been considering leasing your property or would like to know more about leasing your property, please get in touch with Monique Malarowski on 0418 228 524 monique@whitehouseproperty.com.au or Veda Spence on 0499 171 457 veda@whitehouseproperty.com.au.
