Active listings* dropped to a record low of 2,981 at the end of August, according to www.reiwa.com data. This was 10.4 per cent fewer than July and 18.3 per cent lower than a year ago.
REIWA President Suzanne Brown said an unusually low number of new listings over Winter, coupled with ongoing strong demand had seen active listings continue to decline.
"The difficulty in presenting a home for sale and keeping it looking market-ready often deters people from listing their home for sale during the Winter months, but numbers have been lower than expected," she said.
"While August has been significantly wetter than usual, seller sentiment has also played a role in the decline in new listings.
"Sellers are often looking to buy too and it is very difficult to purchase a new home at the moment, particularly if you are selling subject to sale. We are starting to see some sellers list their home with the condition that they are able to buy a suitable home first."
"The significant imbalance between new listings and demand has seen homes sell extremely quickly and active listings fall rapidly.
"There is some positive news. Many members are reporting they have sellers getting ready to list in Spring, so we are expecting an increase in new listings as we move into the warmer months."
Perth sales market
Perth's median house sale price increased 0.4 per cent in August to $800,000. This was 14.3 per cent higher than at the same time in 2024.
The median unit sale price also increased, rising 0.5 per cent over the month to $552,500. This was 17.8 per cent higher than a year ago.
"Under current conditions, prices will continue to increase; it's just a matter of by how much," Ms Brown said.
The suburbs that saw the most house price growth in August were Palmyra (up 2.8 per cent to $1,100,000), Stirling (up 1.9 per cent to $1,350,000), Applecross (up 1.3 per cent to $2,765,000), Jindalee (up 1.3 per cent to $886,000), and Aveley (up 1.2 per cent to $759,000).
Kalamunda, Waikiki, Bayswater, Wellard and Mindarie were also among the top performers, recording growth of 0.8 per cent or more over the month.
Time on market
Houses in Perth sold in a median of 10 days in August, two days faster than July but the same as a year ago.
Units sold in a median of nine days, three days faster than July and one day faster than in August 2024.
"The strong competition for homes, combined with the decline in new listings has seen a return of the Fear of Missing Out (FOMO) experienced in the first half of 2024," Ms Brown said.
"As a result, the time to sell a property has shortened considerably, dropping back to the figures recorded at the same time last year."
According to www.reiwa.com data, the fastest selling suburbs for houses in August 2025 were Brabham (four days); Treeby, Mirrabooka, Hammond Park and Alkimos (five days); and Quinns Rocks, Parmelia, Melville and Butler (six days).
Perth rental market
Perth's median dwelling rent price remained stable at $680 per week in August. This was 4.6 per cent higher than the same time last year.
However, the median weekly rent price for houses increased 2.2 per cent over the month to $700. This was 7.7 per cent higher than August 2024.
The median rent for units was unchanged at $650 per week but was 4.6 per cent higher than a year ago.
Ms Brown said it wasn't unusual to see rent prices increase at this time of year.
"Historically we do see some upward movement in prices in the latter part of the year. This tends to reflect a general tightening of rental conditions as we head towards Christmas," she said.
"We are not seeing a broad surge in prices though, or a return to conditions seen in previous years – when it comes to new leases or lease renewals, many of our members report they are generally recommending no, or low, increases.
"This month's increase also reflects more leases in slightly higher price brackets. We saw something similar earlier this year, and the median dropped the following month."
According to www.reiwa.com, the suburbs that saw the most growth in their median weekly dwelling rent price in August 2025 were Claremont (up 8.7 per cent to $815), Doubleview (up 6.7 per cent to $800), Maylands (up 6.2 per cent to $600), Applecross (up 6.1 per cent to $950) and Subiaco (up 6 per cent to $795).
Listings for rent
There were 2,261 properties available for rent on www.reiwa.com at the end of August. This was 0.1 per cent lower than July but 3.1 per cent higher than the same time last year.
Median leasing times
Homes leased in a median of 16 days during August, one day faster than July and three days faster than 12 months ago.
www.reiwa.com data showed the suburbs recording the fastest median leasing times were Alkimos (nine days); Yokine, Success, and Girrawheen (10 days); Inglewood, Cottesloe, and Spearwood (11 days); and Thornlie, Nollamara, and Hamilton Hill (12 days).
* Active listings – the number of properties advertised on www.reiwa.com at any given time. New listings – new properties listed for sale.
