Perth Property by the Numbers: 2025 Stats Every Investor Should Know

The Perth property market has wrapped up another standout year – defying forecasts and continuing its run as one of Australia’s strongest-performing cities.

Twelve months ago, many industry commentators expected the market to finally lose momentum. 

After a 20% jump in house prices in 2024 and a staggering 60% lift in rents over the previous three years, the general consensus was clear: the double-digit growth cycle couldn’t carry through 2025.

But Perth had other plans.

Backed by strong population growth, multiple interest rate cuts, and persistently low housing and rental stock, the city once again outperformed expectations.

Below, we break down the key numbers that shaped 2025.

Sales market: Prices still rising, stock still tight

Perth’s sales market remained one of the tightest in the country this year.

• Median house price: up ~14% to $830,000 over the past 12 months.
• Median unit price: up ~20% to $580,000 over the past 12 months.
• Days on market: dropped from 13 days to 8 days at the end of 2025.
• Sales listings: fell to ~2,900 (near record lows), down from ~4,300 a year earlier

“Every metric tells the same story – demand continues to outstrip supply,” Rent Choice General Manager Clare Christiansen said. 

“Even with price growth slowing slightly from the peak, the level of competition across Perth remains incredibly strong.”

Rental market: Growth continues, but not evenly

Despite a small improvement in vacancy rates, rental pressure remained tight across most of Perth.

• Vacancy rate: up slightly to 2.5% (from 2% at the start of 2025)
• Median weekly rent (houses): up ~4.5% to $700 over the past 12 months.
• Median weekly rent (units): up ~6.5% to $660 over the past 12 months.

While overall growth stayed strong, some parts of the market softened.

New house-and-land estates saw a surge of simultaneous new completions. As a result, investors in these areas increasingly had to compete on price to secure tenants, according to Clare.

“The rental market is still incredibly tight, but we’re seeing more variability between suburbs,” Clare said. “Established areas with good transport links, schools and amenities continue to outperform newer estates with bulk supply coming to market at the same time.”

The big drivers behind 2025’s performance

1. Interest rate cuts boosted borrowing power

The Reserve Bank delivered three rate cuts in February, May and August.

• Cash rate December 2025: 3.60%
• Cash rate January 2025: 4.35%

Lower borrowing costs directly increased buying capacity – giving both owner-occupiers and investors fresh momentum.

2. WA population growth remained strong

Despite slowing from the previous year's peak, population growth stayed well above the long-term trend.

• Annual growth to March 2025: 2.3%
• Equivalent to: ~67,000 new residents
• Fastest-growing state in Australia (again)

Even with slightly softer growth, demand for housing remained elevated across both sales and rentals.

3. New home completions improved, but not enough

WA is on track to finish 2025 with approximately 22,000 new home completions.

• This is up from 20,556 completions in 2024.
• However, WA still needs roughly 23,000 new homes annually to keep up with demand, leaving an ongoing shortfall of about 1,000 homes per year.

In short: we're building more, but still not enough.