The latest data from REIWA has confirmed what we’ve been seeing on the ground: Perth’s commercial property market is experiencing a period of significant and broad-based growth. In the year to June 2025, every major commercial sector—Retail, Industrial, and Office—recorded strong increases in median sale prices, driven by distinct but equally powerful market forces.

Here’s our breakdown of the key trends and opportunities in each sector.

Retail Sector: Investor Demand Fuels 18.5% Price Surge

The retail market was the standout performer over the past year, posting a remarkable 18.5% increase in its annual median sale price, which now sits at $5,213 per square metre.

This impressive growth is being fuelled by a wave of private investors, self-managed super funds (SMSFs), and institutions seeking secure, income-producing assets. Activity is particularly strong for service-based strip shops, including food outlets, allied health clinics, and pharmacies.

  • Sales Volume is Up: A total of 215 retail properties were sold, a 23.6% increase on the previous year, highlighting the depth of demand.
  • Key Hotspots: High levels of activity have been concentrated in prime inner-city suburbs like Subiaco, Mount Lawley, Leederville, and Fremantle.
  • Market Insight: The demand is broad, with over half of all sales falling into either the $250k-$500k bracket or the $1m-$5m bracket, showing opportunities for a wide range of investors.

Industrial Sector: Supply Squeeze Drives Prices Up 15.1%

Perth’s industrial market continues its powerful run, with the annual median sale price rising 15.1% to $2,733 per square metre.

The fundamental driver here is a classic supply and demand imbalance. Limited new developments combined with strong take-up in previous years means buyers are fiercely competing for a dwindling pool of available properties. While sales volume is slightly down (4.6%), this is a reflection of the critical stock shortage, not a lack of interest.

  • Who’s Buying? Owner-occupiers are leading the charge, particularly businesses in logistics, e-commerce, and trade-related industries.
  • Future Outlook: Demand is expected to remain high, fuelled by the ongoing growth of online retail which requires more warehouse and distribution space. This will continue to put upward pressure on prices.
  • The Challenge: The clear need for more industrial land to be made available in key transport corridors is becoming critical to sustaining market growth.

Office Sector: A Strong Resurgence with 13.8% Growth

The Perth office market has staged a significant comeback, with the median sale price per square metre climbing 13.8% over the year to $4,675.

This resurgence is driven by two key trends:

  1. SME Demand: Small to Medium Enterprises (SMEs) are increasingly choosing to buy smaller strata offices rather than lease, taking advantage of affordability in areas like West Perth, Subiaco, and the inner city.
  2. Investor Activity: Private investors are actively seeking well-tenanted office suites that offer stable returns.
  • Sales Volume is Up: A healthy 13.4% increase in the number of sales shows renewed confidence in this sector.
  • Advice for Sellers: While the market has improved, buyers remain discerning. To attract competition and achieve a premium price, sellers must focus on quality presentation, modern fit-outs, and the strength of the existing tenancy.

Our Market Perspective

The commercial landscape in Perth is dynamic and full of opportunity for savvy owners and investors.

  • For Investors: The search for yield is driving intense interest in retail assets. Industrial property remains a top-tier asset class, though securing it is challenging. In the office sector, a quality tenant is your key to a successful sale.
  • For Business Owners: If you’re looking to own your own premises, the strata office market presents a compelling alternative to leasing. For industrial businesses, be prepared for strong competition when opportunities arise.

Whether you are looking to acquire a strategic asset, divest a property, or find the perfect premises for your business, our commercial specialists have the expertise and market intelligence to guide your next move.

Contact us today for a confidential discussion about your property ambitions.