The Big Picture: Still a Seller’s Market

Let’s start with the basics: Perth’s residential property market has been on a wild ride for the last few years, weathering interest rate rises, record-low listings, and a population boom that’s kept demand sky-high. While things have eased up a touch in 2025 compared to the turbocharged growth of 2024, houses are still selling briskly, and prices continue to reach new heights. If you own a house, your “For Sale” sign could almost be a “Sold” sign already.

How Fast Are Prices Growing?

·  Perth’s median house price in July 2025: hovers around $786,000–$790,000

·  Growth in the past month: House prices in Perth climbed about 0.4% in July alone, above most other capital cities, keeping Perth firmly in the pack of Australia’s fastest-rising markets.

Monthly Moves: July in Focus

·  The pace of monthly growth is steady, not spectacular, but still outpacing Sydney, Melbourne, and just about every other major Australian city (except Brisbane).

·  The median price rose by around $3,000 during July 2025, keeping the market on a slow upward climb despite a steady increase in listings and a slight bump in days on market.

Why Are House Prices So Resilient in Perth?

We can’t talk stats without understanding why prices are holding up (or shooting up) in Perth, so let’s take a quick, clear dive into the underlying factors:

1. Crazy Low Listings

·  Record-low supply: The number of homes listed for sale in Perth is still about 15% lower than just a month ago, despite a slight uptick compared to last year

·  Houses snapped up fast: Median days on market, while up from the manic lows of 2024, are still astoundingly short often about 16 days. If you list your place, don’t blink!

2. Strong Demand

·  Population growth isn’t slowing yet. People continue to pour into WA for jobs, sunshine, and relatively more affordable houses than on the east coast.

·  Buyers are fatigued but not checked out: Even as house prices rise, ongoing rental tightness keeps renters keen to buy if they can.

3. Interest Rates: A Mixed Blessing

·  The Reserve Bank’s decision to hold rates steady (rather than increase or decrease) has given both buyers and sellers a sense of predictability.

·  Higher rates have not tanked demand; Perth’s lower price point compared to the east coast means buyers are less interest rate sensitive than Sydney or Melbourne folks.

Are Houses Still Selling Fast?

·  Yes, but not at the frenzied pace of last year. Buyers now have a little more time to consider an offer, and sellers are seeing slightly more negotiation on price.

·  That said, truly well-located, well-presented houses  especially family homes in Perth’s northern and southern growth corridors  are still attracting competition and sometimes multiple offers.

Where’s the Growth Happening?

·  Price growth isn’t uniform! While Perth-wide figures are impressive, some suburbs have absolutely exploded, with the top 10 growth suburbs clocking annual price growth exceeding 28% in some cases.

·  Established, family-friendly outer suburbs and “affordable lifestyle” pockets have seen the biggest spikes.

What Are the Experts Saying?

·  REIWA President Suzanne Brown notes Perth’s market is underpinned by strong jobs growth and a diversifying WA economy  not just mining anymore.

·  Economic forecasters from major banks like NAB predict 4–7% growth for Perth houses across all of 2025, suggesting things may moderate but will not reverse.

·  Suburban standouts include growth corridors in the north and south, with suburbs like Maylands, Bedford, and Wannanup posting monthly increases of up to 2.9%.

Behind the Numbers: Key Drivers

Tight Supply Keeps Things Competitive

·  Even though more listings are coming onto the market than last year (up 5%–9% in some measures), houses are still in critically short supply because they sell quickly and new builds lag behind demand.

·  Listings dipped significantly this month (down 15% over four weeks), so if you’re hunting, options are still limited.

Buyer Demand Is Broad-Based

·  From first-home buyers (chasing the Aussie dream in the suburbs) to upgraders trading up, the buying pool is deep.

·  Investor activity remains high due to Perth’s rental yields, which are some of the best you’ll find in a capital city market in 2025, and savvy investors aren’t missing the opportunity.

Price Sensitivity Appearing

·  While prices are still rising, agents report more buyers negotiating on price or asking for longer settlement periods  classic “market cooling” signs.

·  But in the big picture, these are gentle changes: the fundamentals of supply, demand, and affordability keep Perth houses in hot demand.

Suburb Shout-Outs: Where’s the Action Hottest?

Some parts of Perth have seen jaw-dropping annual gains:

·  Top-performing growth suburbs clocked over 28% annual price growth. These are usually lifestyle-oriented, family-centric, or upcoming areas with new amenities or infrastructure projects on the horizon.

·  Entry-level and “move-up” family homes in well-serviced suburbs are flying off the market, sometimes within days.

The Human Side: What Are Buyers and Sellers Doing Right Now?

For Sellers

·  Many are still cashing in on massive equity gains, but savvy sellers are watching days on market, considering their next buy (since upgrading is pricier now), and taking advantage of limited competition.

·  Some “wait and see” sellers who sat it out when rates were high are now re-listing, adding a bit to supply  but not enough to meaningfully dampen price growth.

For Buyers

·  Determined buyers are being more selective, sometimes bidding on multiple homes before success.

·  The increased stock means a little more time for due diligence (finally!).

·  But, let’s be honest, things are still competitive  you need finance ready and a clear game plan if you’re actively house hunting.

Key Takeaways for July 2025

·  House prices are still marching up: +0.4% for the month, with the median price just under $790,000.

·  It remains a seller’s market: Low days on market, scarce listings, competitive open homes.

·  Growth is broad-based: Fewer “boom” suburbs, more general uplift across the city (but some metro pockets are flying).

·  Buyers have a tad more breathing room: Days on market have nudged higher, but the overall window to act is still tight compared to the rest of the country.

·  Rental market remains tight: Many would-be renters are simply choosing to buy, which keeps pressure on demand for houses.

A Final Word

If you’re thinking of buying, selling, or investing in a Perth house right now, the data paints a clear story: We’re still in a strong growth phase not as crazy as the peaks of 2023 or 2024, but certainly not in retreat. The tight dance of low supply, ongoing demand, and rents that make home ownership attractive keeps the market resilient, even as national growth cools off a bit.

And remember, these markets are living, moving things. A change in interest rates, economic winds, or government policy could nudge things in a new direction. But for now? Perth’s houses are hotter (and pricier) than ever.

If you want a more suburb-specific take, book an appointment with us for further advice.