By Tim Lawless July 25, 2024

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Perth housing market update [video] | July 2024

Property Market News
Perth housing market update [video] | July 2024

Perth is showing little evidence of a slowdown, recording a 2% rise in values in June and a 23.6% increase in the last financial year.

The annual gain is the equivalent of values rising by almost $145,000.

Despite persistently strong growth conditions, Perth dwelling values remain relatively low compared with the eastern capitals.

Perth Housing Market Update | July 2024

Watch this video on YouTube

Note: Although the median value is at a record high of $757,000, only Hobart and Darwin have lower medians.

Extremely low real estate listings demonstrate the scarcity of supply with Perth inventory levels holding almost 47% below the previous five-year average.

Perth house prices graph

Homes are selling in a median of just ten days down from fourteen days a year ago.

You may also want to read: National Housing Market Update

About Tim Lawless Tim heads up the Core Logic RP Data research and analytics team, analysing real estate markets, demographics and economic trends across Australia. Visit www.corelogic.com.au

13 comments

Robert 2023-11-21 11:47:07

As the owner of several rental properties who regularly looks at the rental listings in my suburbs my experience is that there is a shortage of quality tenants, not a shortage of rental properties

1 reply

ASHLEY MARCUS STEWARD 2023-06-15 11:08:04

Where is the data around all of these Landlords exiting? You can't say this while saying "sellers are on strike" on all of your other charts. With rents at $550 for a Median House around 600k, we have the best yields. As an owner of multiple proper ...Read full version

1 reply

Mark Hamilton 2023-05-07 11:58:05

1 reply

Would you like to share your thoughts?

Robert November 21, 2023

As the owner of several rental properties who regularly looks at the rental listings in my suburbs my experience is that there is a shortage of quality tenants, not a shortage of rental properties

1 reply Reply

Michael Yardney November 21, 2023

Thanks for your thoughts Robert, clearly there’s not one Perth property market – that applies to not only the rental market but the sale market

0 replies Reply

ASHLEY MARCUS STEWARD June 15, 2023

Where is the data around all of these Landlords exiting? You can’t say this while saying “sellers are on strike” on all of your other charts. With rents at $550 for a Median House around 600k, we have the best yields.
As an owner of multiple properties why would I put the rent up more than every 6-12 months? If you manage a property well enough their is no need. BTW Great to see Hillarys and Leederville get to the Million club. Hillarys was 95k back in 1993. Thats a 952% Increase

1 reply Reply

Michael Yardney June 15, 2023

I agree that it makes no sense to sell now, but I’m quoting stats from realestate.com.au and domain – I guess some vendors are seeing hte value of their properties rise after years and years of no growth so they’re getting out

0 replies Reply

Mark Hamilton May 7, 2023

Cap rental increases, thats almost funny how about killing the spider rather than removing webs? the issue is the banking system, who in their right mind would allow any business to up payments on goods that have already been sold, once a home loan has been distributed to a client those funds have no additional cost to the bank who distributed them anymore than a sold motor vehicle to the dealer outside the warranty period. Stop variable interest rate loans they are the real issue which in the end only serve the banking system. Do we want to speak about how banks create money out of nothing now?

1 reply Reply

Michael Yardney May 8, 2023

Thanks for your thoughts mark

0 replies Reply

Jon C July 18, 2022

Is it just me, but does that look like a rate that is bottoming out (at a positive number) to me?

5 replies Reply

Michael Yardney July 18, 2022

Jon – yes the rate of growth of the Perth property market is slowing

1 reply Reply

ASHLEY MARCUS STEWARD May 20, 2024

Some comments dont age well 🙂

0 replies Reply

Gidz June 14, 2023

Perth so hot I almost got sunburnt at a home open the other day, and its winter.

Even Mr Yardney can’t get it right 100% of the time yo.

1 reply Reply

Michael Yardney June 15, 2023

Thanks after a decade od severley underperforming, yes Perth has finally hit new highs

0 replies Reply

ASHLEY MARCUS STEWARD June 15, 2023

Yep! It’s just you Jon. Come back and look at this comment in time. Buy some tissues! 🙂

Perth housing market update [video] | July 2024

Perth house prices graph

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