Bellcourt Market Overview

The Perth property market has started the year with steady momentum, reflecting ongoing confidence from buyers, sellers and investors alike. While conditions remain competitive, recent data from REIWA suggests the market is gradually shifting into a more balanced phase, with increased listings providing buyers with a little more choice than we saw throughout much of last year.

Sales activity continues to hold firm across the metro area. House sales remain the dominant force, supported by consistent demand for family homes, while unit and land sales also show healthy levels of engagement. Compared to earlier in the season, transaction numbers indicate buyers are still active and willing to move quickly when the right property becomes available.

One of the most noticeable changes in recent weeks has been the increase in listings. New house, unit and land listings have all lifted compared to a month ago, offering some relief after a prolonged period of tight supply. While overall stock levels are still lower than long-term averages, this rise in availability is giving buyers more options and slightly easing pressure in certain pockets of the market.

In terms of prices, Perth’s median house price remains elevated following strong growth over the past year, while unit prices have continued to gain traction as buyers seek more affordable alternatives to detached housing. The unit market, in particular, has benefited from increased interest in inner-city and lifestyle locations, as well as renewed confidence from investors.

The rental market remains competitive, although there are early signs of improvement in availability. Median rents for both houses and units remain high, underpinned by strong tenant demand and limited supply. However, a modest increase in rental listings compared to late last year may begin to ease pressure slightly for tenants, particularly in areas where new stock is coming online.

Search data highlights a growing shift in buyer and tenant behaviour. Perth City has emerged as one of the most searched locations for both sales and rentals, reflecting changing preferences toward convenience, walkability and access to employment and entertainment hubs. This trend also points to affordability constraints, with many buyers adjusting their expectations and exploring units or townhouses instead of standalone homes.

Overall, the Perth metro market remains resilient. While price growth has moderated compared to the rapid pace seen previously, demand is still strong and well-located, well-priced properties continue to attract significant interest. For sellers, current conditions still offer a favourable environment, particularly in high-demand suburbs. For buyers, increasing stock levels may present more opportunities to secure the right property with less urgency than in months past.

As we move further into the year, market conditions will continue to be shaped by supply levels, population growth and affordability pressures. Staying informed and seeking local advice remains key to making confident property decisions in Perth’s evolving market.

Whether you’re buying, selling, or investing, it’s a great time to review your options and make a move that suits your goals.