Perth Property Growth Moderates as the Market Rebalances

Perth’s property market is showing clear signs of moderation after several years of exceptional growth, with rising listings and more cautious buyer activity creating increasingly balanced conditions. However, the market remains one of Australia’s strongest performers.

According to Cotality, Perth dwelling values are still up 20.5% over the past year, the highest annual growth rate of any capital city, with a median dwelling value of approximately $1,030,000. Growth has slowed significantly though, with values rising just 0.1% in July and falling 0.3% over the quarter.

REIWA reports active listings have increased to 6,718 properties, more than double the level recorded a year ago, while the median time to sell has extended to 23 days. Higher interest rates, cost-of-living pressures and weaker consumer confidence have made buyers more selective, giving them greater choice and negotiating power.

Despite the slowdown, Perth’s fundamentals remain strong. Rental growth remains robust, with rents up 8.1% annually and vacancy rates still low. Strong population growth, limited housing supply and relatively attractive affordability compared with eastern states continue to support demand and investor interest.

The consensus view is that Perth is shifting into a phase of slower, more sustainable growth rather than experiencing a market downturn. While the rapid gains of recent years are easing, the city’s economic and demographic fundamentals continue to underpin long-term confidence in the market.

Source: Cotality (Formerly CoreLogic)

Perth Suburbs Moving Up

Despite a slower market overall, several Perth suburbs continued to record impressive house price growth throughout July. Harrisdale led the pack with a 3.4% increase, taking its median house price to $1,055,000. Notably, Harrisdale also topped the rankings in May, when it recorded a 4.9% monthly rise, highlighting the suburb’s continued popularity and strong buyer demand.

Close behind was Willetton, where median house prices increased 3.0% to $1,481,250. Southern River claimed third place with a 2.9% rise to $1,080,000, marking its second appearance in the top five in recent months after also featuring prominently in May.

Dudley Park delivered a strong result, with prices climbing 2.6% to $800,000, while Currambine rounded out the top five, recording growth of 2.4% to $1,091,000.

Also worthy of mention are Eglinton, Wellard, Armadale, Hamilton Hill and Scarborough, all of which recorded monthly house price growth of at least 1.9% during July.

Property Spotlight

While competition remains strong for quality properties, our network continues to create a significant advantage for clients. During July, 60% of the properties we secured were purchased pre-market or off-market, providing access to opportunities not available to the broader market. Here are some of the properties our team purchased recently:

What’s Happening In The Perth Property Market?

Over the past twelve months, we’ve supported more than 124 clients in securing high‑growth, high‑cashflow properties – handling all the paperwork and agent interactions so they can focus on the opportunities, not the hassle.

Our clients have saved thousands thanks to our deep market insight, extensive off‑market referral network, and decades of combined experience across development, planning, and investing. With real‑time pricing models and on‑the‑ground knowledge, we ensure our clients are always ahead of the market.

You may already be a confident researcher, negotiator, and deal finder – and that’s a great start. But with over 124 deals completed just in the past year, a two‑decade‑strong network of trusted referrers, and a dedicated team of full‑time researchers and relationship builders, we’re positioned to hear about Perth property opportunities first.

By partnering with us, you’ll access exclusive off‑market deals, significantly expanding your options while saving time and avoiding the stress. We manage every inspection, research task, and negotiation from start to finish.

If you’re ready to experience the same success as our clients, we invite you to book your complimentary discovery call today.