Perth’s property market has remained tight, with low listing numbers continuing to drive strong price growth.
For most of 2024, sales listings sat below 3,000 – far short of the 10,000–12,000 listings
REIWA considers a balanced market. While listings briefly climbed to 4,250 in early 2025, they’ve since dropped again, falling below 4,000 by the end of June.
What does this mean?
Homes are still selling quickly, often within a week and with multiple offers.
House Prices
At the start of the year, Perth’s median property price was around $750,000. By June, that had risen to $786,000 – a 5% increase. While growth has slowed from the 20% surge we saw in 2024, Perth continues to lead the country in capital gains.
Looking Ahead
With interest rates beginning to ease and demand still strong, prices are expected to remain steady – or continue rising – into the second half of 2025.
Rental vacancy rates and sales listings are likely to stay low, with WA’s population growth keeping pressure on supply. The state needs roughly 27,000 new homes each year to keep up with demand, but only around 17,600 are being completed
It’s no secret buyers are struggling to get into the market - but there are still ways.
5 Tips to Help Perth First-Home Buyers Get Ahead
Breaking into the market can feel tough—but a few smart moves can make all the difference:
- Know your numbers early – Chat to a broker and get pre-approval sorted.
- Use what’s available – Look into first-home buyer grants and low-deposit schemes.
- Think beyond the norm – Buying off-the-plan can offer great value and flexibility.
- Tap into hidden stock – Join agent databases or work with a buyers agent to access off-market options.
- Hunt for value – Suburbs like Alkimos in Perth’s north still offer excellent bang for your buck.