Perth property activity down

The decline is despite a slight increase in listings in comparison to the previous week, with lower figures likely attributable — at least in part — to Labour Day falling on Monday, 2 March 2020.

According to the REIWA, there were 12,527 properties for sale in the city at the end of the week — 1 per cent higher than the previous week.

Breaking down the statistics by property type, a 2 per cent increase in listing stock was observed for houses, while listings for units also increased by 1 per cent.

A simultaneous 1 per cent decrease in vacant land listings was recorded.

Despite the near-term gain, the REIWA highlighted that the listings volume is down by 26 per cent on the same period last year.

Rental snapshot

Rental listing volumes are also down on last year’s results, a 16 per cent decrease on listings from this time last year.

Current figures are still 4 per cent higher than the rental volume that was on offer the week prior, with 5,573 properties up for rent in Perth on final count at 8 March 2020.

Just 780 properties were leased across Perth for the week ended 8 March, a 30 per cent decrease in activity.