Bellcourt Market Overview

Perth’s property market continues to show strong underlying demand as we move towards spring, with property values remaining elevated and buyer activity continuing across the metropolitan area.

According to the latest REIWA figures, the Perth median house price is now $950,000, while the median unit price sits at $682,000. This highlights the continued strength of Perth’s property market, with well-presented homes in desirable locations remaining highly sought after.

During the week ending 30 August, 625 properties were sold across Perth Metro, including 420 houses, 143 units and 62 blocks of land. While this was below the 723 sales recorded four weeks earlier and 801 sales during the same week last year, buyer activity remains significant.

The level of available property is also changing. There were 7,312 properties listed for sale during the week, up from 6,784 four weeks earlier and considerably higher than the 2,981 recorded during the same week last year. The increase in listings is providing buyers with more choice, although competition remains strong for quality properties.

The rental market continues to experience solid demand. 664 properties were rented during the week, including 434 houses and 230 units. There were 2,047 properties available for rent, which remains below the 2,233 available at the same time last year.

Rental prices also remain high, with the median weekly rent sitting at $750 for houses and $700 for units across Perth Metro.

Overall, August’s figures suggest Perth’s property market is continuing to perform strongly, with elevated property values, steady buyer demand and a gradually increasing level of stock. For sellers, the increase in listings means presentation, pricing and marketing strategy are more important than ever. For buyers, the growing choice of properties may provide more opportunities, but competition remains a factor for quality homes in sought-after suburbs.

As we head into spring, it will be interesting to see how increased listings and seasonal activity influence the Perth market over the coming months.