Perth’s property market continues to show strong price growth amid record-low listings and steady demand, according to the latest REIWA data.

REIWA President Suzanne Brown said median prices are expected to keep rising while demand remains high and stock levels low.

“Population growth, new home buyers entering the market under the Home Guarantee Scheme, and a lack of available housing are all fuelling demand,” Ms Brown said. “Many owners are reluctant to sell without securing a new home, and new builds are not keeping up with need.”

Sales and Prices

The median house sale price in Greater Perth reached $820,000 in October 2025, up 1.2% from September and 12.3% higher than a year ago.
The strongest monthly growth occurred in Jindalee (+2.1%), Southern River (+1.6%), Doubleview (+1.6%), Bayswater (+1.5%), and Swan View (+1.4%).

Listings rose slightly to 2,793 in October, up 1.8% from September, but remain 44.5% lower than last year. Homes are selling quickly — in Yokine, with a median price of $1.02 million, properties sold in just two days.

The fastest-selling suburbs were Yokine (2 days), Kinross (4 days), and several others averaging under a week on market.

Units See Strong Growth

Unit prices also climbed, rising 2% in October to a median of $571,000, up 17.7% year-on-year. Units sold in a median of eight days, the fastest pace in at least 25 years.

Ms. Brown attributed this to affordability pressures:

“Buyers are increasingly turning to apartments, villas, and townhouses for affordability and lifestyle reasons.”

Sales Volumes Down

Despite rising prices, overall sales declined. 3,147 properties changed hands in October — a 26.5% drop compared to 4,284 in October 2024.

Ms. Brown noted that while spring typically brings more listings, “we have yet to see a significant increase this year.”

Rental Market Tightens

Rental prices continued to climb, with the median dwelling rent up 2.9% to $700 per week — 7.7% higher than last year.

• Houses: $700/week (+0.7% month, +7.7% year)

• Units: $670/week (+1.1% month, +7.2% year)

Suburbs with the strongest rental growth included Claremont (+5.9%), Bentley (+5.4%), Mount Lawley (+5.2%), High Wycombe (+5.1%), and Hamilton Hill (+4.8%).

There were 2,137 rental listings on reiwa.com at the end of October, up 1.9% month-on-month and 9.3% year-on-year. Median leasing times held steady at 16 days.