Spring Has Arrived!
Perth Property Market Update: Spring Selling Season Trends
Perth’s property market is heating up for the Spring selling season! Active listings rose by 8.4% in September, with a total of 3,952 listings by month-end. However, the market remains competitive, with active listings still 19.0% lower than this time last year. This improvement follows a period of significant reductions in available properties from November 2023 to May 2024, where listings were consistently 30-40% lower year-on-year.
Rising House Prices in Perth
Perth’s median house price increased by 1.7% in September, bringing the annual growth to an impressive 21.5%, with the median house price now reaching $700,000. Demand for established homes remains strong, fueled by population growth and continued building industry challenges. Unless there’s a major shift in supply, upward pressure on prices is likely to continue.
Top Suburbs for Growth in September
The suburbs with the highest median house price increases last month were:
Fast Sales
On average, houses sold within 10 days in September, only a day slower than in August, maintaining a brisk pace compared to last year.
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For further reading on house values have a look at Real Estate HERE or to find out more about the Perth property market update reach out to our expert team anytime!
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