Perth sales activity is going through the roof with 200% growth
Almost 700 transactions were reported by Perth real estate agents over the past week.
For the week ending 10 January 2021, the Real Estate Institute of Western Australia (REIWA) reported 699 transactions across the capital city, an overall increase of 201 per cent in sales activity to the previous week.
Top-selling suburbs included Scarborough, Ellenbrook, Yanchep, Doubleview, Baldivis, Rockingham, Warnbro and Canning Vale.
REIWA said the rise in sales activity was attributable to a 181 per cent rise in house sales, a 318 per cent rise in unit sales and 211 per cent rise in vacant land sales over the week.
As at 10 January, there were 8,263 properties for sales in the WA capital, 1 per cent higher than the previous week.
Despite the big numbers, sale stock levels are still 13 per cent lower than the levels that were seen a month ago.
It’s also 33 per cent lower than the number of houses on the market at the same time last year.
In a stock level breakdown, house listings were down 1 percent, while unit listings remained stable. Meanwhile, listings for vacant land increased by 5 per cent.
On the rental market side of things, REIWA reported that there were 2,835 properties for rent in Perth at the end of last week, which is 16 per cent more than the previous week but 7 per cent lower than levels seen four weeks ago and 54 per cent lower than levels seen in January 2020.
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