Perth Property Market Update // May 2025 Snapshot

Elizabeth Robinson Posted on 03 Jun 2025

Source: REIWA, 3 June 2025

The Perth property market continues to show strong growth across both sales and rentals, with May seeing another lift in median prices. Here’s a breakdown of what’s happening in the market right now:

🔹 House & Unit Prices Keep Rising

May saw Perth’s median house price increase by 0.6% to $780,000, marking an 18% rise over the past year. Units also saw solid growth, with the median unit price rising 1.9% to $535,000 — up 21% compared to May 2024.

According to REIWA President Suzanne Brown, Perth’s ongoing growth is underpinned by strong fundamentals:

Population growth (still high, despite a slight dip)
Low unemployment and a resilient WA economy
Diversification beyond mining into healthcare and education

These conditions continue to drive buyer confidence and support the strength of the market.

🔹 Suburbs Leading the Way

The top performing suburbs in May for house price growth included:

Maylands – up 2.9% to $936,000
Bedford – up 2.1% to $1,000,000
Wannanup – up 1.9% to $818,000
Pinjarra – up 1.8% to $560,000
Southern River – up 1.7% to $900,000

Other strong performers included Swan View, Landsdale, Coodanup, Beckenham and Como, all showing solid month-on-month increases.

🔹 Listings & Sales Activity

There were 4,351 active listings at the end of May — a 6.6% decrease from April, but still 32.9% higher than this time last year.

Buyer activity picked up again in late May after the usual school holiday slowdown. Homes are still selling fast:

Median selling time: 13 days for houses, 14 for units
Fastest-selling suburbs: Harrisdale (6 days) and Joondalup, Alkimos, Golden Bay, Kardinya, Nedlands, Port Kennedy, Riverton, Safety Bay (7 days)

🔹 Perth’s Rental Market Remains Tight

The median dwelling rent rose 0.7% to $675/week in May — up 3.8% year-on-year.

House rents remained steady at $680/week
Unit rents held at $650/week

While prices have stabilised somewhat, they remain historically high. The vacancy rate has risen slightly, but stock remains limited due to rapid leasing and off-market activity.

Top suburbs for rental growth last month:

West Leederville – up 7.7% to $700/week
Fremantle – up 6.3% to $765/week
Como – up 5% to $735/week
Applecross – up 5% to $788/week
Wembley – up 4.4% to $600/week

🔹 Rental Listings & Leasing Times

2,380 properties were listed for rent at month-end (up 4.1% from April)
Median leasing time: 17 days (slightly slower than April)

Suburbs with the fastest leasing times:

Brabham & Doubleview – 9 days
Thornlie – 10 days
Alkimos – 11 days
Hamilton Hill, Wembley, Balcatta, Balga, West Leederville, Westminster – 12 days

🔹 Key Takeaways

✅ Both house and unit prices are still climbing
✅ Sales activity is steady, with homes continuing to sell quickly
✅ Rental prices remain high, although stabilising
✅ Increased stock is helping, but demand remains strong

Whether you’re buying, selling or investing, staying informed is key — and our team is always here to help.

📞 Want to know how your suburb is performing? Contact us today for a personalised market update.

Source: REIWA, www.reiwa.com – June 2025 Perth Market Update
Disclaimer: Data accurate at time of writing. Always consult with a licensed agent for the most up-to-date advice.