Perth Property Market – Prices, Trends, Forecast [June 2025]

Perth continues to stand out among Australia’s capital cities, maintaining its strong upward trajectory in property values. In May 2025 alone, dwelling values in Perth rose by 0.7%, pushing quarterly growth to 1.6% and yearly growth to 8.6%—one of the highest among capital cities. The city’s median dwelling value reached $813,088.

Perth Property Price Growth

Perth posted the highest annual change in dwelling values among all capitals over the 12-month period. The sharp divergence between its performance and other markets, like Hobart and Melbourne (which saw annual declines), highlights Perth’s current momentum. On a broader scale, dwelling values in Perth have grown 80% since their market peak and 58.5% over the past decade.

CoreLogic Home Value Index

CoreLogic Home Value Index, Released on 2nd June 2025

Perth Property Market Trends

• Rental Market: Perth’s housing rents grew by 4.6% annually, and unit rents climbed 7.1%, reflecting robust tenant demand amid tight supply.
• Yield Performance: The city delivered a gross rental yield of 4.3%, positioning it competitively among other capitals.
• Top Growth Suburbs: Multiple Perth SA3 regions appeared in the national top 10 for annual value growth. Notably:
  • Perth City (Inner): +10.3%
  • Melville: +10.4%
  • Swan: +10.9%
  • Kwinana: +11.3% (highest in Greater Perth)
  • Fremantle: +9.0%

This widespread growth across Perth’s suburbs signals a broad-based upswing rather than isolated spikes.

Change in dwelling values over key time periods

Perth Property Market Forecast

Looking ahead, national indicators like the RBA’s likely interest rate cuts, easing inflation, and improving consumer confidence are poised to support further growth. Perth, already benefitting from undersupply and strong fundamentals, is expected to maintain positive momentum. However, affordability constraints and lending restrictions could temper the pace over time

The Reserve Bank of Australia’s ongoing adjustments to interest rates will likely play a crucial role in shaping market dynamics, as higher borrowing costs limit purchasing power for many buyers.

Here are some of the most recent forecasts by the big-4 banks in Australia:

• ANZ predicts a 5-6% increase in capital city property prices in 2024, with Brisbane expected to see the highest rise at 9-10%, Perth property values could go up by 1-11%, Sydney by 4-5%, and Melbourne prices by 2-3%.
• CBA forecasts a 5% rise in capital city prices, with some variations: Brisbane is anticipated to grow by 6%, Melbourne and Perth by 5%, Sydney by 4%, and Adelaide by 1%.
• NAB projects a 5.4% average increase across the capitals, with Brisbane expected to see a 6.5% rise, Perth and Adelaide by 6.2%, Melbourne by 5.5%, Sydney by 5%, and Hobart remaining flat.
• Westpac expects a 6% growth across the combined capitals, with Perth leading at 10%, followed by Brisbane at 8%, Sydney at 6%, Adelaide at 4%, and Melbourne at 3%

Oxford Economics recently released property forecasts predicting where house prices will be in three years.

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Conclusion for Homeowners

Perth is emerging as a national leader in property value growth. With strong annual gains, high-performing rental yields, and a broad range of growth suburbs, the city presents a compelling picture of sustained housing demand. If macroeconomic tailwinds hold, Perth is well-positioned to continue outperforming other capitals in the near term.

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