- Increased New Listings: Perth’s property market has witnessed a significant uptick in new listings, particularly in October 2024. This surge is driven by strong market conditions and motivated sellers.
- Strong Demand: The sustained demand for homes and robust price growth have encouraged sellers to list their properties.
- Record-High Listings: October 2024 recorded the highest number of new listings since March 2021, with over 5,500 properties entering the market.
- Price Growth: Perth’s median house price is on track for a substantial 25% increase in 2024. October saw a 2.1% month-on-month increase in median house prices and a 2.2% increase in median unit prices.
- Market Dynamics: While the increased number of listings offers more choice for buyers, the Perth market remains competitive.
- Future Outlook: Factors such as upcoming elections and potential interest rate changes may influence market activity in the first half of 2025.
- Top-Performing Suburbs: Suburbs like Craigie, Applecross, Pinjarra, Riverton, and Yokine experienced significant price growth in October.
Overall, the Perth property market is experiencing a period of robust growth, driven by strong demand and increasing supply.
