Perth Property Market Insights in June 2025: Median House Continues to Rise and Active Listings for Sales Fall below 4,000
Active listings in Perth have fallen below 4,000 for the first time since September 2024.
According to www.reiwa.com data, active listings for sale settled at 3,997 at the end of June. This was 6.1 per cent lower than May, but 18.7 per cent higher than a year ago.
REIWA President Suzanne Brown said the decline reflected a drop in new listings and consistently strong demand.
“Historically, new listings tend to decline at this time of year, with new listings in June 5.9 per cent lower than May over the past four years.
“However, demand remains very strong and in the past few weeks we have seen the number of sales exceed new listings. This has seen active listings decline.”
Ms Brown said while the decline in new listings was seasonal, seller sentiment was also playing a role.
“In the current market, selling comes with a range of challenges,” she said.
“If you put your home on the market, it is likely to sell quickly and you are then faced with having to find somewhere else to live, possibly in a matter of weeks.
“If you decide to buy first, you are then making offers ‘subject to sale’, which can make you less competitive against buyers who already have their finance sorted. And if your offer is accepted you then have to scramble to get your house on the market.
“Our members report these factors are creating hesitancy among some potential sellers.
“If you are thinking of selling, but want to find your new home first, it is a good idea to get your home market-ready so you can advertise it as soon as you put an offer on a new property.”
Perth sales market
Perth’s median house sale price increased 0.8 per cent in June to $786,000. This was 16.4 per cent higher than at the same time in 2024.
The median unit sale price also increased, rising 0.9 per cent over the month to $540,000. This was 20.0 per cent higher than a year ago.
Ms Brown said demand was still driving price growth.
“While population growth is slowing, it is still strong, which is maintaining the strong demand for homes,” she said.
“According to the latest figures, WA’s population increased 2.4 per cent in the year to December 2024 and has exceeded 3 million.
“Net interstate and overseas migration was nearly 58,000, and if you assume there are 2.5 people per household, that’s created demand for over 23,000 new homes to either buy or rent. And that doesn’t include demand from the existing population.
“There has been a significant imbalance between demand and new supply for some time and while new home completions did increase in 2024 to about 20,600, that imbalance is still putting upward pressure on prices in the established homes market.”
The suburbs that saw the most price growth in June were Mount Lawley (up 2.6 per cent to $1,580,000), Coodanup (up 2.6 per cent to $600,000), Ocean Reef (up 1.6 per cent to $1,300,000), Kewdale (up 1.5 per cent to $758,500) and Melville (up 1.5 per cent to $1,382,500).
Scarborough, Rockingham, Currambine, Kingsley and Landsdale were also among the top performers, recording growth of 1.1 per cent or more over the month.
Time on market
Houses in Perth sold in a median of 13 days in June, unchanged from May but four days slower than June 2024.
Units also sold in a median of 13 days, one day faster than May, but two days slower than the same time last year.
According to www.reiwa.com data, the fastest selling suburbs for houses in June were High Wycombe (five days); Coolbellup, Brabham, Clarkson and Seville Grove (six days); and Jindalee, Booragoon, Hilbert, Karrinyup and Leeming (seven days).
Perth rental market
Perth’s median dwelling rent price increased 0.7 per cent to $680 per week in June. This was 4.6 per cent higher than the same time last year.
The median weekly rent price for houses remained stable at $680 but was 4.6 per cent higher than June 2024.
The median rent for units rose 1.5 per cent to $660 per week. This was 10.0 per cent higher than a year ago.
Ms Brown said demand, and therefore price growth, varied across the city.
“Our members report demand is particularly strong close to the city, but is often softer in outer-lying suburbs,” she said.
“In these outer areas, some members report there is strong competition for modern, well-maintained homes, but they are seeing prices decline for older, dated properties.
“When setting a rent price it is important to listen to the feedback from your REIWA property manager. Although demand is still strong, prices do need to be competitive as it can be very difficult to fill vacancies for properties priced above market expectations.”
According to www.reiwa.com, the suburbs that saw the most growth in their median weekly dwelling rent price in June were Cottesloe (up 14.6 per cent to $1,000), Nedlands (up 12.5 per cent to $875), Mount Lawley (up 8.3 per cent to $650), Mosman Park (up 4.8 per cent to $650) and Butler (up 4.0 per cent to $645).
Listings for rent
There were 2,389 properties available for rent on www.reiwa.com at the end of June. This was 0.3 per cent higher than May but 3.5 per cent lower than 12 months ago.
Median leasing times
Homes leased in a median of 16 days during June, one day faster than May and three days faster than a year ago.
www.reiwa.com data showed the suburbs recording the fastest median leasing times were Clarkson (10 days); Beckenham and Hamilton Hill (11 days); Madora Bay and Alkimos (12 days); and Willetton, Butler, Coolbellup, Eglinton and Nollamara (13 days).
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Source: https://members.reiwa.com.au/s/cms-reiwanewsexpanded/active-listings-in-perth-fall-below-4-000-MCINISLIQKRREEDMOTY4A3NH2QFU?fbclid=IwZXh0bgNhZW0CMTAAYnJpZBExME9FcjBEWUlrS28ySERFUgEe7lLcSM70CGRkpgdBfRHNoh4tFM0jo-jwZhsATSSmVQ8NWiOpg88Pbujss_8_aem_bYiAi4O99wFqNKEJMl6GkQ