Perth's median house price increased 0.6 per cent in May to $780,000. This was 18.0 per cent higher than at the same time in 2024.
The median unit price also increased, rising 1.9 per cent over the month to $535,000. This was 21.0 per cent higher than a year ago.
REIWA President Suzanne Brown said the conditions underpinning price growth remained.
"Population growth, while declining slightly, is still strong, which fuels demand for housing," she said.
"The WA economy remains strong and unemployment is low. Despite headwinds in some areas of the resources sector, the latest data from the Department of Energy, Mines, Industry Regulation and Safety shows the industry has recorded eight consecutive calendar years of employment growth.
"And, while we are still very much a resource-based state, WA is no longer as dependent on mining as it was. There has been a strong focus on diversifying the economy from the State Government, and our growing population has led to more roles in sectors like health care and education, which is likely to continue.
"These factors support consumer confidence and a robust property market."
The suburbs that saw the most growth in May were Maylands (up 2.9 per cent to $936,000), Bedford (up 2.1 per cent to $1,000,000), Wannanup (up 1.9 per cent to $818,000), Pinjarra (up 1.8 per cent to $560,000) and Southern River (up 1.7 per cent to $900,000).
Swan View, Landsdale, Coodanup, Beckenham and Como were also among the top performers, recording growth of 1.4 per cent or more over the month.
Listings for sale
Active listings* for sale settled at 4,351 at the end of May 2025. This was 6.6 per cent lower than April but 32.9 per cent higher than a year ago.
"As expected, we saw new listings increase throughout May, following the holiday-related slump at the end of April," Ms Brown said.
"Sales activity also increased towards the end of the month, which has seen active listings settle slightly below the April level.
Time on market
Houses in Perth sold in a median of 13 days in May, one day faster than April but four days slower than May 2024.
Units also sold in a median of 14 days, the same as April but three days slower than the same time last year.
According to www.reiwa.com data, the fastest selling suburbs for houses in May were Harrisdale (six days) and Joondalup, Alkimos, Golden Bay, Jane Brook, Kardinya, Nedlands, Port Kennedy, Riverton and Safety Bay (seven days).
Perth rental market
Perth's median dwelling rent increased 0.7 per cent to $675 per week in May. This was 3.8 per cent higher than the same time last year.
The median weekly rent for houses remained stable at $680. This was 4.6 per cent higher than May 2024.
The median rent for units also remained stable at $650 per week but was 8.3 per cent higher than a year ago.
"We continue to see periods of stability in the rental market, interspersed with relatively small movements in median prices," Ms Brown said.
"The median unit rent has been unchanged since December 2024. And the median weekly house rent price has been $680 for four of the past five months.
"This reflects the changed conditions in the rental market, including an increase in supply and increase in the vacancy rate."
According to www.reiwa.com, the suburbs that saw the most growth in their median weekly dwelling rent price in May were West Leederville (up 7.7 per cent to $700), Fremantle (up 6.3 per cent to $765), Como (up 5 per cent to $735), Applecross (up 5 per cent to $788) and Wembley (up 4.4 per cent to $600).
Listings for rent
There were 2,380 properties available for rent on www.reiwa.com at the end of May. This was 4.1 per cent higher than April but 1.3 per cent lower than 12 months ago.
"Active listings have been steadily increasing over the past few months, but that is a fairly common pattern for this time of year," Ms Brown said.
"While supply has increased, active listings remain relatively low due to the speed of leasing and the number of off-market leases still taking place.
"If prospective tenants are having difficulty finding a property it may be worthwhile registering their interest with property managers in the areas where they want to live so they can be notified of properties as soon as they become available."
Median leasing times
Homes leased in a median of 17 days during May, two days slower than April and one day slower than a year ago.
www.reiwa.com data showed the suburbs recording the fastest median leasing times were Brabham and Doubleview (nine days); Thornlie (10 days); Alkimos (11 days); and Hamilton Hill, Wembley, Balcatta, Balga, West Leederville and Westminster (12 days).
* Active listings – the number of properties advertised on www.reiwa.com at any given time. New listings – new properties listed for sale.
