The number of properties advertised for sale in Perth surpassed 6,000 at the end of June, according to the latest data from REIWA.
This was 14.8 per cent higher than at the end of May, and 58.3 per cent higher than a year ago.
It is the first time active listings* have been over 6,000 at the end of a month since April 2023.
REIWA President Suzanne Brown said the rise was due to an increase in new listings over the past few months and a softening of demand.
"The number of new listings in June is on par with the five-year average for this month, which is positive after the shortage of listings seen earlier this year," Ms Brown said.
"With properties coming to market in reasonable numbers since the end of March, the supply side of the supply and demand equation has improved.
"We have also seen a noticeable change to demand in the wake of the Federal Budget and the back and forth over the taxation legislation. Despite there being more properties on the market, sales activity decreased in June, more so than you would expect at this time of year.
"Our members have reported a decline in enquiry from potential investors. I have also seen a reduction in activity from first home buyers, the very people this legislation is aiming to help.
"Now that the taxation policies have passed Federal Parliament and we have more certainty, it will be interesting to see if market activity picks up in the coming months."
Ms Brown said consumer sentiment and three interest rate rises were also impacting market activity.
"The interest rate rises have reduced buyers' borrowing capacity and therefore how much they can spend when purchasing a home. They are also concerned about the impact of further rate rises on mortgage affordability, so are being much more prudent with their finances," she said.
"You also can't ignore the role consumer sentiment is playing. The uncertainty around the ongoing conflict with Iran is impacting some people's decisions to sell and buy. In addition, whenever there is major change to housing-related policy, similar to what happens around an election, we often see a lull in market activity."
According to reiwa.com data, the suburbs that saw the greatest percentage increase in new house listings from the March quarter to the June quarter were Warwick (up 140.0 per cent), Gwelup (up 128.6 per cent), Huntingdale (up 126.3 per cent), Kallaroo (up 125.0 per cent), and Darlington (up 122.2 per cent).
The suburbs that saw the greatest percentage increase in the number of new unit listings over the same period were Crawley (up 133.3 per cent), Westminster (up 122.2 per cent), Osborne Park (up 113.3 per cent), Morley (up 100.0 per cent) and Northbridge (up 70.0 per cent).
Perth sales market
Perth property prices rose again in June, but at a lower rate than in previous months.
The median house sale price** rose 1.1 per cent over the month to $930,000. This was 16.3 per cent higher year-on-year.
The median unit sale price** increased 1.5 per cent in June and 21.8 per cent over the year to $670,000.
Ms Brown said the changes in market conditions had seen the rate of price growth slow and it was likely to slow further in the coming months.
"The changes in the market mean sellers are going to have to adjust their expectations and price their property for today's market, not what they might have received a few months ago," she said.
"We have seen the number of sellers discounting their houses increase from one in 10 in the March quarter to three in 10 in June, and sellers are receiving fewer offers.
"Good presentation has become more necessary than it was during the frenzied conditions seen early this year. Buyers have more choice and are being more selective; properties that need work are less appealing to them.
"Conditions vary from suburb to suburb, so it is essential to be guided by a local REIWA agent when you are selling."
The suburbs that saw the most median house sale price growth in June were Beeliar (up 4.5 per cent to $1,050,000), Greenwood (up 3.3 per cent to $1,085,000), Palmyra (up 2.8 per cent to $1,280,000), Melville (up 2.4 per cent to $1,575,000), and Kingsley (up 2.4 per cent to $1,200,500).
Duncraig, Ocean Reef, Nollamara, Hilbert and Canning Vale were also among the top performers, recording growth of 1.8 per cent or more over the month.
The suburbs that saw the most median unit sale price growth were Scarborough (up 2.4 per cent to $845,000), Fremantle (up 2.0 per cent to $747,500), East Perth (up 1.1 per cent to $660,000), Perth (up 1.0 per cent to $631,250) and Como (up 0.9 per cent to $840,000).
Time on market
Houses in Perth sold in a median of 18 days in June, four days slower than May and five days slower than a year ago.
Units sold in a median of 18 days, five days slower than May and five days slower than in June 2025.
"To quote one of our members, 'the days of one-and-done are gone'," Ms Brown said.
"Sellers should not expect their home to sell at the first home open. While it is still possible in some cases, for most people, their property is likely to take several weeks to sell, or longer, depending on their area and the level of buyer interest."
According to reiwa.com data, the fastest selling suburbs for houses in June were Hilbert and East Victoria Park (five days); Woodvale (six days); Eglinton (seven days); Maddington and Gwelup (nine days); Kenwick, Hillarys and Heathridge (10 days); and Morley (11 days).
The fastest selling suburbs for units were Cockburn Central (nine days); Maylands (11 days); South Perth (12 days); Mandurah (13 days); West Leederville (14 days); Fremantle (15 days); Perth and Rivervale (19 days); Como (20 days); and East Perth (21 days).
Perth rental market
Perth median house and unit rent prices were stable again in June.
The median weekly rent for houses remained unchanged at $750 but was 10.3 per cent higher than a year ago.
The median weekly rent for units was also stable at $700. This was 5.3 per cent higher than June 2025.
The median dwelling rent declined 0.7 per cent over the month to $725 per week, however, this was 6.6 per cent higher than the same time last year.
Ms Brown said continued price stability was welcomed but noted the Perth market had yet to see the full repercussions of the Federal Budget's taxation changes.
"Before the Budget announcements we saw an increased number of investors considering selling. While many have chosen to remain in the market for now, we are finding potential investors are very hesitant to purchase a rental property," she said.
"This is very concerning. WA's population grew by 2.2 per cent in the year to December 2025, the strongest growth rate of any state or territory. Most of that growth was from overseas migration, which supports demand for housing, particularly to rent.
"If supply remains static or, worse, declines again, we will see increased upward pressure on rent prices and affordability.
"And while the changes to negative gearing and the capital gains tax discount may drive investors towards new builds, it will take 12 to 18 months before these come to the market and provide any additional new supply."
According to reiwa.com data, the suburbs that saw the most growth in their median weekly house rent price in June were East Victoria Park (up 7.8 per cent to $797), Morley (up 4.0 per cent to $780), Thornlie (up 3.4 per cent to $750), Halls Head (up 2.3 per cent to $665), and Aveley (up 1.9 per cent to $785).
The suburbs that saw the most growth in their median weekly unit rent price were Como (up 6.4 per cent to $745), Rivervale (up 3.6 per cent to $725), Wembley (up 3.3 per cent to $620), West Perth (up 3.2 per cent to $800), and Maylands (up 1.5 per cent to $660).
Listings for rent
There were 2,211 properties available for rent on reiwa.com at the end of June. This was 4.7 per cent lower than May and 8.2 per cent lower than the same time in 2025.
Median leasing times
Homes leased in a median of 16 days during June, one day slower than May but one day faster than in June 2025.
reiwa.com data showed the suburbs recording the fastest median leasing times were Hamilton Hill (six days); Golden Bay (nine days); Victoria Park, Nollamara, Madora Bay, Kelmscott and Doubleview (12 days); and Rockingham, Mount Lawley and Morley (13 days).
* Active listings - the number of properties advertised on reiwa.com at any given time. New listings - new properties listed for sale.
** REIWA publishes an annual median sale price based on pending and settled sales.
