All Perth commercial markets recorded median sale price increases in the year to June, with retail recording the most growth, according to REIWA's June Commercial Property Update.
The annual median sale price per sqm for the Perth retail market was $5,213 at the end of June, an 18.5 per cent increase over the year. The annual median sale price per sqm was relatively stable when compared with the 12 months to March 2025.
REIWA President Suzanne Brown said sales growth was being driven by private investors seeking income-producing retail assets.
"Local private investors, self-managed super funds and a few larger institutions are active in the retail market at the moment," she said.
"Purchasers are looking at strip shops and service-based retail, such as food, allied health and pharmacies.
"Strong activity has been seen in Subiaco, Mount Lawley, Leederville and Fremantle."
A total of 215 retail sales have been recorded in the Greater Perth region so far during the 12 months to June 2025. Compared with the previous year, the number of sales increased 23.6 per cent.
The Inner sub-region had the most sales, with 55. It also had the highest annual median price per sqm at $6,678.
Across Perth, 25.1 per cent of all retail sales were priced between $250,000-$500,000. Another 25.1 per cent were priced between $1 million-$5 million.
Industrial
The annual median sale price per sqm for industrial sales rose 15.1 per cent to $2,733 in the year to June. This was 2.2 per cent higher than the year to March 2025.
Ms Brown said the disparity between supply and demand continued to put upward pressure on prices.
"A combination of limited new industrial developments and the strong take-up in previous years means buyers are competing for fewer available properties," she said.
"This can be seen in the number of sales, which is 4.6 per cent lower than the same time last year.
"Our members report owner occupiers, particularly in the logistics, e-commerce and trade-related businesses, remain highly competitive.
"Investors are still active, although many are turning their interest towards retail due to the difficulty in finding industrial property."
The Inner sub-region had the highest annual median sale price per sqm at $4,309.
Across Perth, 38.5 per cent of industrial sales were priced between $1 million-$5 million.
A total of 1,087 industrial sales in the Greater Perth region have been recorded so far during the 12 months to June 2025.
Perth's South West sub-region recorded the most sales, with 302.
"We can expect ongoing demand for industrial property and more price growth," Ms Brown said.
"Our members have noted Australia has relatively low online shopping penetration compared to many other countries. We can expect this to increase in the coming years and drive demand for warehouses for storage and distribution.
"We need more industrial land to be made available in Perth to cope with demand. We see opportunities in the South East, such as Forrestdale, Jandakot and Welshpool, and North East in Malaga and Wangara. Connectivity to Tonkin and Roe Highways will be essential for transportation."
Office
The office market has seen a price resurgence in the past year.
Over the 12 months to June, it recorded a 13.8 per cent increase in the annual median sale price per sqm, to $4,675. This was 3.8 per cent higher than the 12 months to March 2025.
Across Perth, 32.4 per cent of office sales were priced between $250,000-$500,000.
Ms Brown said demand was being driven by affordability and repositioning opportunities.
"Smaller strata offices are attracting the interest of Small to Medium Enterprises (SMEs) looking to own rather than lease," she said.
"Owner occupiers are active in the inner city, West Perth, Subiaco and Mount Lawley, seeking office space for professional and medical services.
"Private investors are seeking well-tenanted office suites.
"While the office market has shown improvement over the past year, sellers should be aware that buyers are price-sensitive, presentation and fit-out are important, and well-tenanted suites will attract competition."
The Inner sub-region had the highest annual median sale price per sqm at $5,060 and recorded the most sales with 210.
A total of 492 office sales have been recorded so far in the Greater Perth region in the year to June 2025. This was an increase of 13.4 per cent over the year.
You can read the full commercial update here.
