Perth Property Market in April - More Choice for Buyers, Prices Still Climbing in April
Perth’s property market eased slightly in April, with active listings* rising to 4,185 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 cautioned it was too soon to determine if the market had peaked.
“We’ve recorded over 1,000 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. 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,” she said.
“However, buyers are also being cautious as a result of 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. The increase in fuel prices and the flow-on to other costs is also impacting budgets and seeing potential buyers weigh their options carefully.
“We saw similar conditions at this time last year due to the uncertainty surrounding the impacts of the Trump tariffs. The market then rebounded strongly when consumer sentiment improved and new listings fell in the second half of the year.”
Perth sales market
While sales activity may have eased in April, price growth did not, with Perth property prices continuing their climb.
The median house sale price** rose 2.3 per cent over the month to $900,000. This was 15.4 per cent higher year-on-year.
The median unit sale price** increased 2.4 per cent over the month and 21.2 per cent over the year to $645,000.
Ms Brown said the growth reflected the ongoing demand for housing.
“The Perth property market recorded very strong price growth in the first quarter of the year and this has continued into April. Sales activity may have declined in April but demand is still strong,” she said.
“One member referred to the market as an oven that has gone from 250 degrees down to 220 degrees. It’s still hot, just not white hot.
“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.”
The suburbs that saw the most median house sale price growth in April were Cottesloe (up 9.4 per cent to $3,500,000), Beckenham (up 3.3 per cent to $797,500), Brabham (up 2.9 per cent to $836,500), Yokine (up 2.5 per cent to $1,250,500), and Canning Vale (up 2.5 per cent to $1,076,777).
Hammond Park, Scarborough, Dianella, Gosnells and Nollamara were also among the top performers, recording growth of 1.9 per cent or more over the month.
The suburbs that saw the most median unit sale price growth were Subiaco (up 2.7 per cent to $798,150), Victoria Park (up 2.6 per cent to $560,000), South Perth (up 2.3 per cent to $880,000), West Perth (up 1.6 per cent to $649,000) and Cockburn Central (up 1.4 per cent to $570,000).
Como, Mount Lawley, Rivervale, Perth and East Perth were also among the top performers, recording growth of 0.8 per cent or more over the month.
Time on market
The time to sell a home increased marginally in April.
Houses sold in a median of 12 days, three days slower than March but three days faster than April 2025.
Units sold in a median of 11 days, also three days slower than March but four days faster than a year ago.
Ms Brown said the slight slowdown reflected the increase in new listings in April and the reduced sales activity.
“While the time to sell a property has increased slightly, it is still faster than at the same time last year, when we saw similar market conditions,” she said.
“And it is still an extremely fast time to sell a property. During the extended property downturn, the average time on market was 40 days, peaking at 65 days for houses and 78 days for units in January 2019.
“Our members report that well-positioned and well-presented homes are still selling very quickly, while homes that are more challenged, such as on a main road or not as well presented, are staying on the market for longer.
“Conditions do vary from suburb to suburb. Buyers can view the median time on market for a particular suburb on reiwa.com. Sellers should speak to a local REIWA agent about prospects for their home.”
According to reiwa.com data, the fastest selling suburbs for houses in April were Erskine (five days); Padbury and Bayswater (six days); Yangebup, Warnbro, Lesmurdie, Clarkson, Beckenham, and Aveley (seven days); and Treeby (eight days).
The fastest selling suburbs for units were Stirling (three days); Subiaco, Nollamara, and Rockingham (seven days); Mount Lawley, Maylands, and Como (eight days); and Rivervale, Claremont, and West Perth (10 days).
Perth rental market
REIWA’s concern about the future of the rental market continued in April, with median house and unit rent prices increasing.
The median weekly rent for houses increased 1.4 per cent to $750 and was 10.3 per cent higher than a year ago.
The median weekly rent for units rose 0.7 per cent to $700. This was 7.7 per cent higher than April 2025.
The median dwelling rent remained stable over the month at $720 per week, however this was 6.7 per cent higher than the same time last year.
“We are very concerned about the direction of rent prices, with the vacancy rate tightening and investors facing a triple threat,” Ms Brown said.
“At the state level, investor sentiment is being negatively affected by the escalating debate over no grounds terminations. There are indications the WA Government intends to make changes, but there is no clarity over the direction it intends to take.
“Federally, changes to the Capital Gains Tax discount and negative gearing have been making news for several months. The structure of these potential changes varies every week.
“In addition, rising interest rates are impacting some investors.
“Many members are reporting an increase in investor sales and appraisals. Every investor lost is a blow to renters and rental affordability.
“And it is naïve to think the sale of an investment property will lead to that renter becoming a home owner. Not every renter can afford to buy and not every renter wants to buy at this point in their life. Further, demand is so strong that, should they be able to buy a home, they will face competition from many other aspiring home owners.
“Compounding the threats to rental supply are the issues in the building industry. As we saw during COVID, when the new homes market is constrained, the rental market bears the brunt as the system’s shock absorber, accommodating households who are unable to move into completed properties.”
According to reiwa.com data, the suburbs that saw the most growth in their median weekly house rent price in April were Scarborough (up 10 per cent to $1,100), Forrestfield (up 7.1 per cent to $750), Ellenbrook (up 5.6 per cent to $750), Piara Waters (up 3.7 per cent to $830), and Southern River (up 3.7 per cent to $850).
The suburbs that saw the most growth in their median weekly unit rent price were Como (up 7.5 per cent to $750), Victoria Park (up 4.8 per cent to $650), Fremantle (up 1.3 per cent to $800), and Scarborough (up 0.3 per cent to $800).
Listings for rent
There were 2,167 properties available for rent on reiwa.com at the end of April. This was 13.3 per cent higher than March but 5.2 per cent lower than the same time last year.
Median leasing times
Homes leased in a median of 15 days during April, unchanged from March but one day faster than 12 months ago.
reiwa.com data showed the suburbs recording the fastest median leasing times were Eglinton (seven days); Wembley (eight days); Piara Waters (10 days); North Perth, Innaloo, Como, Alkimos, West Perth, and Nollamara (11 days); and Rivervale (12 days).
* Active listings – the number of properties advertised on reiwa.com at any given time. New listings – new properties listed for sale.
** REIWA publishes an annual median sale price based on pending and settled sales.
Source: https://reiwa.com.au/news/market-eases-in-april-following-listings-uptick/
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