The latest data from REIWA for October 2025 confirms what we are seeing on the ground every day: Perth’s property market continues to be a story of relentless demand and record-low supply.

This imbalance has once again pushed prices to a new peak, creating fantastic opportunities for sellers while putting immense pressure on buyers to act decisively.

Here’s a complete breakdown of the current state of the Perth market.

📈 House Prices Continue Their Climb

The headline figure for October is the new median house sale price, which has officially reached $820,000.

This is a 1.2% increase from September and a significant 12.3% jump compared to the same time last year. The market is showing no signs of slowing down, with monthly increases expected to continue as long as current conditions hold.

Top Growth Suburbs for Houses (October 2025):

  • Jindalee: up 2.1% to $960,000
  • Southern River: up 1.6% to $935,000
  • Doubleview: up 1.6% to $1,275,000
  • Bayswater: up 1.5% to $1,047,544
  • Swan View: up 1.4% to $700,000

🏘️ The Core Issue: Critically Low Supply

The driving force behind this price growth is simple: there are not enough homes for sale to meet the high demand.

Listings for sale are 44.5% lower than this time last year. While we normally expect a “Spring rush” of new listings, this has not happened. Many owners are hesitant to sell, concerned they won’t be able to secure their next home in such a competitive market.

This lack of stock has led to a drop in total sales (down 26.5% year-on-year), not because of a lack of buyers, but purely because there aren’t enough properties to buy.

⚡ A “Blink-and-You’ll-Miss-It” Market

For properties that do come to market, the competition is fierce. Multiple offers are now standard, and homes are selling at a blistering pace.

In October, homes in Yokine (median price $1,020,000) were on the market for a median of just two days.

Fastest Selling Suburbs (October 2025):

  • Yokine: 2 days
  • Kinross: 4 days
  • Waikiki, Spearwood, Orelia, Kardinya, Golden Bay, Beechboro: 5 days
  • Woodvale & Wellard: 6 days

🏢 Units & Apartments: The New Focus for Speed & Affordability

It’s not just houses. The unit market (including villas, townhouses, and apartments) is experiencing even stronger growth as buyers look for more affordable options.

The median unit price hit $571,000 in October, a huge 17.7% increase from last year.

Even more telling is the speed of sale. Units sold in a median of just eight days—a record pace we haven’t seen in at least 25 years and even faster than the current median for houses. This trend is being fuelled by first-home buyers using schemes like the Home Buyers Guarantee, which have price limits that often favour the unit market.

Perth Rental Market Update

The rental market remains extremely tight, with tenants facing rising prices and limited options.

The median dwelling rent rose by 2.9% last month to $700 per week.

  • Median House Rent: $700/week (up 7.7% year-on-year)
  • Median Unit Rent: $670/week (up 7.2% year-on-year)

While rental listings saw a tiny increase (up 1.9% from September), the market is still incredibly strained. Homes are leasing in a median of 16 days, with suburbs like Shenton Park (6 days) and Joondalup (7 days) being snapped up much faster.

What This Means For You

For Sellers: There has simply never been a better time to sell. Demand is at a peak, stock is at a historic low, and buyers are competing fiercely. This is the definition of a seller’s market, and premium prices are being achieved daily.

For Buyers: The market is challenging, but not impossible. The key is preparation. Have your finances pre-approved and be ready to act immediately when the right property appears. Exploring units or suburbs just outside your initial search area may also present new opportunities.

For Landlords: With rents rising and a strong tenant pool, the returns on investment properties remain robust. Securing a quality property manager is crucial to navigating the market and maximising your asset.

Navigating a market this fast requires experience and expert strategy. Whether you’re considering selling, looking for your next home, or managing an investment, our team is here to help you make a successful move. Contact us today for a confidential, no-obligation chat about your property goals.