Sales activity decreased nine per cent in Perth this week, with REIWA members reporting 484 transactions.
This decrease can be attributed to a 16 per cent decline in house sales and a one per cent decline in unit sales, however there was a 57 per cent increase in vacant land sales during the week.
The lower level of activity experienced this week can most likely be attributed to the Australia Day long weekend.
Listings for sale
There were 16,633 at the end of this week, which is one per cent less than last week.
A closer look at listing stock levels shows house listings remained stable, listings for units decreased by two per cent and listings for vacant land decreased by four per cent.
This week’s total figure is four per cent higher than four weeks ago and eight per cent higher than levels seen a year ago.
Perth rental market
REIWA members reported there were 6, at the end of this week, which is two per cent less than last week.
This week’s rental listings figure is eight per cent lower than four weeks ago and are 27 per cent lower than the same time last year.