16/02/2024
Property prices and rents continued to rise in January
Sourced from Reiwa
"REIWA CEO Cath Hart said it had been a fairly slow start to the year in terms of sales, with the number of sales 14.1 per cent lower than December 2023."
Both median house and unit sale prices rose in January.
Houses recorded a median sale price of $600,000, up 1.7 per cent on the $590,000 reported for December and 9.9 per cent higher than January 2023.
The median unit sale price increased 0.5 per cent over the month to $410,000. This was 2.2 per cent higher year-on-year.
Active listings* remained at near-record lows, settling at 3,738 at the end of January. This was 2.5 per cent higher than December 2023, but 46.2 per cent lower than a year ago.
“Residential property in Perth is being both listed and sold above the five-year average, however the sheer speed of sales is keeping the number of properties available on www.reiwa.com (active listings) at historically low levels,” Ms Hart said.
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