THE LOCAL MARKET
REIWA is reporting the total properties listed for sale remained stable at 3,245, similar to the previous week. This is a significant 40.5 per cent decrease in available properties compared to last year. There was minimal growth in house listings and a slight decrease in unit and vacant land listings compared to the previous week. Additionally, Perth’s property market experienced an 11.4 per cent increase in sales transactions, with REIWA reporting 911 transactions. Coupled with the stagnant supply, these figures suggest a tightening market where demand continues to outstrip supply.
At White House, we had a busy week placing FOUR properties under offer.
Connie Handcock placed two properties under offer over the weekend. Both 113 Solomon Street, Fremantle and 5/9 Macleod Road, Applecross were sold after less than a week on the market and just two home opens. We are thrilled at the premium results achieved for both these sellers and delighted for our buyers of both these wonderful properties.
Stefanie Dobro and Georgia Hagan placed three properties under offer. 95A Solomon Street, Fremantle was placed under offer to a long-term client who we are thrilled to have found a property with so many great opportunities. Lastly, 95 Sewell Street, East Fremantle, was placed under offer to buyers who were excited to secure the home after missing out on the property when it was last on the market.
THE RENTAL MARKET
The rental market also showed signs of robust activity, with a slight increase to 2,524 properties available for rent, which is higher than both last month and last year. This growth, combined with a stable number of properties leased last week, at 691 homes leased over the week, there appears to be steady rental demand with increasing supply to the market in recent months, an encouraging sign for renters.
