Perth Property Market on Track for 10% Price Growth by Year’s End
Perth’s real estate market continues to show its strength, with property prices expected to rise by around 10 per cent in 2025, according to the latest REIWA forecast.
The strong growth has been fuelled by a combination of factors — including continued population growth, improving affordability thanks to recent interest rate cuts, and increased buyer confidence supported by government initiatives such as the Home Guarantee Scheme.
REIWA President Suzanne Brown noted that both house and unit prices have performed solidly this year, with unit sales even outpacing houses in price growth. “We’ve seen consistent gains each quarter, and buyers are increasingly turning to more affordable options such as townhouses and apartments in well-located suburbs,” Ms Brown said.
This shift reflects a broader market trend where affordability and location are driving purchasing decisions. Many buyers — particularly first-home buyers and investors — are finding value in suburbs like Maylands and Victoria Park, where well-positioned units and townhouses remain below key government incentive thresholds.
At the end of the September quarter, Perth’s median house price reached a record $810,000, up 8 per cent since January. REIWA expects this to climb further, ending the year around the 10 per cent mark. Meanwhile, the median unit price has risen 13 per cent to $565,000, with growth expected to reach about 15 per cent by December.
While this represents a more moderate rate of growth compared to the 25 per cent surge seen in 2024, the outlook remains positive as demand continues to outstrip supply. “Until we see a substantial increase in new housing completions, buyer demand is likely to remain strong,” Ms Brown explained.
The rental market has also seen steady increases, though at a slower pace than last year. REIWA projects that Perth’s median weekly rent will reach around $700 for houses and $675 for units by the end of 2025 — approximately a 5 per cent rise year-on-year.
At Porter Matthews Metro, we’re seeing these trends reflected across our sales and rental markets — strong competition, quick sales, and ongoing demand for well-presented homes across the Perth Metro area.
Despite the challenges of limited stock, it’s an encouraging time for sellers and investors who are benefiting from Perth’s resilient market performance.
** The information provided in this blog is for general informational purposes only and does not constitute professional advice. While we strive to ensure accuracy, we encourage readers to conduct their own research and due diligence before making any decisions based on the content or sources mentioned. Porter Matthews Metro does not assume any liability for errors, omissions, or reliance on the information provided. **