Perth Market Update ----May 2025

Chenqi Li Posted on 07 Jun 2025

 

🏡 Sales Market Overview

  • House prices: Median increased 0.6% to $780,000, up 18% from May 2024.

  • Unit prices: Median rose 1.9% to $535,000, up 21% year-on-year.

  • Price growth is supported by strong population growth, low unemployment, and a diversifying economy.

🔝 Top Growth Suburbs in May

  • Maylands: +2.9% ($936,000)

  • Bedford: +2.1% ($1,000,000)

  • Wannanup, Pinjarra, Southern River: +1.7% to +1.9%

  • Others: Swan View, Landsdale, Coodanup, Beckenham, Como (1.4%+ growth)

📊 Listings & Time on Market

  • Sales listings: 4,351 active listings (⬇️6.6% from April, ⬆️32.9% year-on-year)

  • Time on market:

    • Houses: Median 13 days (faster than April)

    • Units: Median 14 days (same as April)

🚀 Fastest Selling Suburbs

  • Harrisdale: 6 days

  • Others (7 days): Joondalup, Alkimos, Golden Bay, Kardinya, Nedlands, Port Kennedy, etc.

🏠 Rental Market Overview

  • Median rent:

    • Overall: $675/week (+0.7% monthly, +3.8% yearly)

    • Houses: $680/week (steady)

    • Units: $650/week (steady since Dec 2024)

  • Top rental price growth suburbs:

    • West Leederville: +7.7% ($700)

    • Fremantle, Como, Applecross, Wembley: +4.4% to +6.3%

📈 Rental Listings & Leasing Time

  • Available rentals: 2,380 (⬆️4.1% from April, ⬇️1.3% year-on-year)

  • Leasing time: Median 17 days (2 days slower than April)

  • Fastest leasing suburbs:

    • Brabham, Doubleview: 9 days

    • Thornlie, Alkimos, Hamilton Hill, Wembley, Balcatta, Balga, etc.: 10–12 days