Key takeaways
Perth house prices mostly flat since October 2024, March 2025 saw just +0.2%
Listings up 9.1% year-on-year but still below historical averages
Median days on market doubled from 9 to 19, showing reduced buyer urgency
Perth’s housing market has entered a period of stability following remarkable growth in recent years. According to CoreLogic, the city's property market is experiencing steady conditions with modest recent value movements.
Perth home values have shown minimal change recently:
- March 2025: +0.2%
- Overall Trend: Virtually unchanged since October 2024
Note: Despite stabilising, Perth property values remain significantly elevated, having increased by approximately 75.4% since March 2020.
Perth housing market trends
Perth’s market is experiencing rising property listings:
| Timeframe | Change in Listings |
|---|---|
| Year to March 2025 | +9.1% |
Source: CoreLogic
Despite this rise, current listings remain below historical averages for this period, suggesting ongoing market constraints.
Properties in Perth are staying longer on the market, reflecting slower buyer urgency:
| Period | Median Days on Market |
|---|---|
| A year ago | 9 days |
| March Quarter 2025 | 19 days |
Source: CoreLogic
Perth house prices - the longer-term data
Perth's property market is likely to maintain its stability, with moderate, sustainable value growth anticipated. Key points influencing future growth include:
- Continued gradual interest rate cuts supporting borrowing capacity
- Persistent undersupply due to high construction costs and skilled labour shortages
- Slow improvement in affordability and home loan serviceability, restraining significant price surges
Note: While Perth is unlikely to witness another rapid growth cycle in the short term, its underlying market fundamentals remain robust.
In conclusion, Perth’s property market offers stability amidst a broader national trend towards modest growth. Buyers and investors should remain cautious yet optimistic about opportunities arising from the market’s current dynamics.
You may also want to read: National Housing Market Update
- Also read:Lower Rates Drive Home Prices Higher Over April | Latest Housing Market Stats Dr. Andrew Wilson
- Also read:Everything you need to know about the state of Australia’s property markets in 20 charts – April 2025
- Also read:Sydney property market forecast for 2025. Is it a good time to invest in Sydney?
- Also read:Brisbane Property Market Forecast [2025] – What’s Ahead & Where to Invest
- Also read:Melbourne property market forecast for 2025 | Is it a good time to invest in Melbourne?
