Perth Market Snapshot for the week ending 18 March

In this week’s Perth Market Snapshot, reiwa.com data shows market volatility with reported sales activity falling 10 per cent after last week’s 26 per cent rebound.

C1583BC1-D7F1-4906-BFA0-1A875640EF61
The volatility, which is expected to continue through to the Easter break in early April, is very evident in markets either side of the river.

House sales fell nine per cent this past week, which was driven primarily by a 15 per cent fall north of the river in house sales (252), while there was a negligible fall south of the river (282).

Multi-residential sales north of the river (69), which tends to be the dominant market for this sector, fell 19 per cent, while there was a 16 per cent rise in the smaller south of the river market (43).

The annual change in activity remains about 15 per cent below the same time last year.

Listings for sale and rent have pushed up to new cyclical highs with the four per cent jump in listings for sale now hovering around 14,000 – the highest level since April 2012.

Rental listings have now pushed through the 6,500 mark.

Take a look at the breakdown of the past week:

perth-market-snapshot-18-march
Photo - Flickr user Richard Giles.