Rental listings have plateaued: REIWA's Perth property update

Perth agents reported sales of 777, down 9% on the previous week but remain 5% above the level of four weeks ago.

The fall, in the week to 10 September, was due to a 9% decline in house sales to 552 which have grown steadily over recent weeks along with a 39% fall in the smaller land component which spiked the previous week and has now returned to recent levels.

By contrast the multi-residential unit component recorded a 14% increase to 162, which is above the 145 weekly average for 2015.

There has been little movement in listings over the past week.

Rental listings have plateaued around 5,900 in recent weeks after peaking at just over 6,000 in July.

The latest data for August has the overall median weekly rent steady at $450 and the vacancy rate sitting at 4.0%.

Source: Real Estate Institute of Western Australia.