Property News Wrap Up, March 2019

Read more for your Perth Property Market Snapshot for March 2019.

Perth Rental Market

Below are the most recent REIWA stats for the week ending 24 March 2019.

We are seeing more rental activity in South Perth and Scarborough compared to the end of last month with Perth and East Perth remaining the top rented suburbs. REIWA has reported 6,718 properties for rent in Perth which is in line was last week. This figure is higher than what was seen 4 weeks ago however is still 25% lower than levels seen a year ago.

As at 24 March 2019 median rent is $350 per week.

Sales & Rental Trends

Sales activity decreased by 12% in Perth this week, with REIWA reporting a total of 505 transactions recorded over the last week.

The decrease can be attributed to a 15% fall in house sales and 14% rise in vacant land sales. Unit sales however have seen a 4% rise.

Take a look at REIWA’s breakdown below:

Perth’s Top Rental Suburbs

Looking at a snapshot of Perth’s rental market, the top rental suburbs are East Perth, South Perth, Perth and Baldivis. The following suburbs currently have the most available rental properties; East Perth, Perth, South Perth and Scarborough.

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