Perth Property Market Update: May 2025

Perth’s property market continues to demonstrate resilience and growth as of May 2025. While the pace of price increases has moderated compared to the previous year, the market remains buoyant, supported by strong demand, limited supply, and favorable economic conditions.


🏠 Market Overview

Median House Price: As of May 2025, Perth’s median house price stands at $842,413, reflecting a 0.4% increase from April and a 10% rise over the past year. Yourmortgage.com.au

Median Unit Price: The median unit price is $600,237, indicating steady growth in the apartment sector. Yourmortgage.com.au

Sales Activity: REIWA reported 923 property transactions in the week ending 18 May 2025, marking a 2.1% increase from the previous week. REIWA Public Website


📊 Suburb Performance

Recent data highlights significant growth in Perth’s outer suburbs:

  • Swan Region: Suburbs in this area have experienced a 14.2% increase in median house prices over the past year. Yourmortgage.com.au
  • Mundaring: This locality has seen a 13.3% rise in median house prices year-on-year.
  • Kwinana: The median house price has increased by 12.9% compared to the previous year.

These areas are attracting buyers seeking affordability and growth potential.


🏘️ Rental Market Trends

Median Weekly Rent: The median weekly rent for houses in Perth is $680, while units command $650 per week.

Rental Listings: As of mid-May, there were 2,383 properties available for rent, a 2.5% increase from the previous week and a 2.5% rise compared to the same time last year. REIWA Public Website

Rental Activity: REIWA members reported 607 properties leased in the week ending 18 May 2025, a 13% decrease from the previous week but 4.7% higher than four weeks prior. REIWA Public Website+3REIWA Public Website+3Holdsworth Real Estate+3


📈 Market Drivers

Several factors are influencing Perth’s property market:

  • Interest Rates: The Reserve Bank of Australia’s recent 0.25% rate cut aims to stimulate economic growth and improve housing affordability. Smart Property Investment
  • Economic Strength: Western Australia’s robust economy supports sustained demand in the property sector. The Property Tribune
  • Population Growth: Increased migration to Perth contributes to housing demand, particularly in affordable outer suburbs.

🔮 Outlook

Analysts project continued growth in Perth’s property market throughout 2025, albeit at a moderated pace compared to the previous year. REIWA forecasts up to a 10% increase in median house prices by year’s end.

Investors and homebuyers are advised to monitor interest rate movements, economic indicators, and regional developments to make informed decisions in this dynamic market.

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