Key takeaways
Strong and Accelerating Growth: Perth property values are surging, rising 1.1% in August and 6.6% over the past year, making it one of Australia's leading markets for growth.
Supply Shortage Fueling Prices: An extreme lack of available properties for sale, with listings down 41% on the five-year average, is driving intense buyer competition and pushing prices higher.
Positive Outlook for Spring: Supported by a tight rental market and strong economic fundamentals like low unemployment and rising wages, the Perth market is positioned for a very active spring selling season.
The latest data is in, and it confirms what many on the ground are feeling: Perth's property market is firing on all cylinders. The September 2025 Housing Market Update from Cotality reveals a market defined by strong value growth, intense buyer demand, and critically low stock levels.
As we head into the traditionally busy spring season, Perth is solidifying its position as one of the nation's top-performing markets. Let's dive into the key statistics and what they mean for you.
Perth's Housing Values Continue to Climb
Perth recorded another month of impressive growth, with home values rising significantly in August. This sustained momentum underscores the confidence currently pulsing through the local market.
- Monthly Growth: Perth home values rose by 1.1% in August, the second-highest gain among all capital cities, just behind Brisbane.
- Quarterly Growth: The rolling quarterly change in values stands at 3.1%, the highest it has been since October of last year.
- Annual Growth: Over the past 12 months, Perth values have surged by 6.6%.
This growth translates into significant gains for homeowners. The annual increase adds approximately $52,400 to the median dwelling value in Perth.
Key Perth Property Statistics (August 2025)
| Metric | Value |
|---|---|
| Change in Dwelling Values (3 Months) | 3.1% |
| Change in Dwelling Values (12 Months) | 6.6% |
| Median Dwelling Value | $841,928 |
| Median House Value | $881,867 |
| Median Unit Value | $624,821 |
Source: Cotality, August 2025
The Driving Force: Strong Demand Meets Low Supply
The primary factor fueling Perth's rapid price appreciation is a classic case of supply and demand imbalance.
Note: While buyer demand is robust, the number of properties available for sale remains exceptionally low.
This scarcity is creating a sense of urgency among buyers and placing upward pressure on prices. Listings in Perth were tracking:
- Also read:Sydney housing market update | September 2025
- Also read:Melbourne housing market update | September 2025
- Also read:Australian housing market update | September 2025
- Also read:Melbourne property market forecast for 2026 | Is it a good time to invest in Melbourne?
- Also read:Latest Property Price Forecasts Revealed. Australian Property Market Outlook 2025–26: Where Prices Are Headed After Three Rate Cuts.
- 8.5% lower than at the same time last year.
- A staggering 41% below the 5-year average for this time of year.
Nationally, this mismatch is a clear trend, with low listings and rising demand creating a strong seller's market. With auction clearance rates hitting 70% in late August, it's evident that buyers are competing fiercely for the limited stock available.
A Look at Perth's Tight Rental Market
The pressure isn't just in the sales market. Rental conditions in Perth remain extremely tight, reflecting a broader national trend of low vacancy rates and accelerating rental growth.
The national rental index saw its largest month-on-month rise since May of last year, a trend mirrored in Perth's competitive leasing environment.
Perth Rental Rates and Yields (August 2025)
| Metric | Houses | Units |
|---|---|---|
| Weekly Rent | $700 | $660 |
| Gross Rental Yield | 4.0% | 5.5% |
| Annual Change in Rent | 5.1% | 7.3% |
Source: Cotality, August 2025
What's Next for the Perth Market?
The outlook for the Perth housing market appears increasingly positive. Several key factors are providing a solid foundation for continued strength:
- Economic Health: A tight jobs market, rising consumer sentiment, and real wage growth are empowering households and boosting borrowing capacity.
- Seller's Advantage: The ongoing shortage of available properties means vendors remain in a strong negotiating position.
- Spring Season: The coming months are expected to be very active. While a seasonal rise in new listings will test the depth of buyer demand, it's likely that purchasing activity will continue to outpace the available supply.
For buyers, sellers, and investors in Western Australia, the message is clear: the Perth property market is set for an active and dynamic spring season. Keeping up-to-date with these fast-moving trends will be crucial for making informed decisions.
