Supply shrinking in Perth Housing Market

The number of properties for sale in Perth has continued to shrink, with almost a 40% drop in properties for sale from the same time last year. REIWA last week mentioned that 8,898 properties were listed for sale, compared to 14,090 properties last year. There were over 1,000 properties sold in a week compared to 690 in the corresponding week last year. It seems that the housing market is heating up, with some global property watchers starting to take notice of Perth, a city that was once Australia's best kept secret.