PERTH’S property market eased slightly in April with active listings rising to 4185 at the end of the month.

This was 28.9 per cent higher than March, but still 10.2 per cent lower than at the same time last year.

REIWA President Suzanne Brown said the increase in listings was a positive sign but said it was too soon to determine if the market had peaked.

“We’ve recorded over 1000 new listings per week most weeks since mid-March, which is very positive, however, we usually see this from mid-February,” she said.

“The increase in new listings has given buyers more choice and our members report they are taking more time to make a decision.

“This is reflected in the slight increase in the median selling times for houses and units.

“Sales activity also eased in April, with members reporting lower attendance at home opens and fewer offers, and this has contributed to the increase in active listings.

“I will note that fewer offers is relative, with many agents still receiving multiple offers for appealing properties, just not quite as many as they might have done a few months ago.”

Ms Brown said the decline in sales activity was a result of the time of year and the ongoing climate of uncertainty caused by the conflict in the Middle East.

“It is typical to see sales activity decline in April,” she said.

“This is due to the number of public holidays and school holidays.

“The number of weekly sales did increase in the last full week of the month.”

Ms Brown said buyers were more cautious now due to the broader impacts of the Middle East conflict.

“Inflation is increasing and interest rates are rising, which reduces buyers’ borrowing capacity and affects their budgets once they get a loan,” she said.

“The increase in fuel prices and the flow-on to other costs is also impacting budgets and seeing potential buyers weigh their options carefully.”

Despite this dip in actual sales activity, prices continued to grow in the Perth sales market which Ms Brown said reflected the ongoing demand for housing.

“Sales activity may have declined in April but demand is still strong,” she said.

“If the Middle East conflict makes building a new home more expensive, we could see the level of demand for established homes remain high for some time.”

Brabham was named as a suburb that saw the most median house sale price growth in April, increasing 2.9 per cent to $836,500.

REIWA data shows among the fastest selling suburbs for houses in April were Lesmurdie and Aveley, which on average sold within a week of listing.