Around 30% more homes for rent in Perth than last year: REIWA

Perth house sales during February were down on the same time last year. 

Turnover was down around 16% on last year, to 1,870 reported sales, according to REIWA.

The median house price eased by around 1%, or $5,000 to $547,000. 

The REIWA president David Airey said reiwa.com data showed that sales lifted 12% in February after the festive season downturn. 

“Given that sales were down by 15% in January and now by a similar figure in February, it’s clear that the market is showing a trend of slow-down that is apparent even at a time when seasonal summer sales are usually stronger,” Airey said. 

Listings for sale increased by 4% in February to 13,456 properties. 

The rental market showed no sign of change in February, with the exception of the City of Belmont where median rents lifted by $20 to $450 per week. 

Perth’s median rent is unchanged at $440 per week and data shows a vacancy rate of just over 4%, Airey said.  

There were 6,251 rental homes looking for tenants in February, up by almost 30% on the same time last year. 

Top selling suburbs in February:

• Northwest metropolitan
  
  Quinns Rocks, Woodvale, Duncraig, Clarkson, Butler.
  
  
• Northeast metropolitan  
  
  Ellenbrook, Ballajura, Forrestfield, Lesmurdie, High Wycombe. 
  
  
• Central metropolitan 
  
  Willetton, Balga, Morley, Dianella, Karrinyup. 
  
  
• Southwest metropolitan 
  
  Baldivis, Secret Harbour, Waikiki, Rockingham, Warnbro. 
  
  
• Southeast metropolitan 
  
  Canning Vale, Armadale, Thornlie, Kelmscott, Byford. 

Source: REIWA.