Perth's median house price increased 1.1 per cent in April to $775,000. This was 19.2 per cent higher than at the same time in 2024.
The median unit price also increased, rising 1.7 per cent over the month to $525,000. This was 20.7 per cent higher than a year ago.
REIWA President Suzanne Brown said while the median house price for the greater Perth region continued to increase, conditions still varied across the metropolitan area.
"While the majority of Perth suburbs continue to record increases in their median house sale price, some have shown stability over the past few months and a few are starting to record slight declines," Ms Brown said.
"These changes may be more reflective of sales in slightly lower price brackets. This is why, when selling, it is important to speak to your local REIWA agent about current market conditions so that you have realistic expectations for your property.
"We are occasionally hearing reports from members about properties being sold for less than the asking price but this depends on a number of factors such as location, presentation, realistic initial pricing and local levels of competition and buyer interest."
The suburbs that saw the most house price growth in April were Applecross (up 3.8 per cent to $2,700,000), Duncraig (up 2.5 per cent to $1,240,000), Hillarys (up 2.3 per cent to $1,450,000), Padbury (up 2.2 per cent to $984,500) and Dianella (up 1.7 per cent to $936,000).
Rockingham, Quinns Rocks, Falcon, Woodvale and Girrawheen were also among the top performers, recording growth of 1.5 per cent or more over the month.
Listings for sale
Listings for sale settled at 4,751 at the end of April 2025. This was 3.8 per cent lower than March 2025 and 37.9 per cent higher than a year ago.
"Active listings declined slightly in April, which is a reflection of the school holidays period and multiple public holidays," Ms Brown said.
"Our members report many home owners were planning to wait until the end of the holiday period before putting their home on the market so we expect new listings to increase over the next few weeks.
"We saw less sales activity over the month, which is also a reflection of the number of holidays."
Time on market
Houses in Perth sold in a median of 14 days in April, one day slower than March and five days slower than April 2024.
Units also sold in a median of 14 days, one day slower than March and three days slower than the same time last year.
According to www.reiwa.com data, the fastest selling suburbs for houses in April were Queens Park (five days); Hamilton Hill (six days); Pinjarra, Beeliar, Kelmscott, Kingsley, Yangebup and Yokine (seven days); and Banksia Grove and High Wycombe (eight days).
Perth rental market
Perth's median dwelling rent declined 1.5 per cent to $670 per week in April. This was 3.1 per cent higher than the same time last year.
The median weekly rent for houses also declined, down 1.4 per cent to $680. This was 4.6 per cent higher than April 2024.
The median rent for units remained stable at $650 per week but was 8.3 per cent higher than a year ago.
"With changing conditions in the market, we expect to see some movement up and down in the Perth median rent price over the coming months," Ms Brown said.
"However, results will differ from suburb to suburb. In suburbs where demand is high, median rent prices are likely to continue to increase. Median rent prices may decline in areas that are less popular or where there is an excess of supply. In these suburbs tenants may have more negotiating power than they have had in the past few years.
"Even within a suburb, one home may see a rent price increase, while another one nearby may need to have its asking price reduced in order to secure a tenant.
"When leasing a property, it is essential investors speak to their to REIWA property manager about the conditions in their local area, including tenant demand and rent price movement."
According to www.reiwa.com, the suburbs that saw the most growth in their median weekly dwelling rent price in April were Bassendean (up 7.7 per cent to $700), Greenfields (up 3.6 per cent to $570), Brabham (up 3.1 per cent to $750), East Perth (up 2.7 per cent to $750) and Como (up 2.2 per cent to $700).
Listings for rent
There were 2,281 properties available for rent on www.reiwa.com at the end of April. This was 8.4 per cent higher than March and 5.4 per cent higher than 12 months ago.
Median leasing times
Homes leased in a median of 15 days during April, unchanged from March but one day faster than a year ago.
www.reiwa.com data showed the suburbs recording the fastest median leasing times were Morley (eight days); Clarkson, Falcon and North Perth (nine days); Carlisle (10 days); Piara Waters (11 days); Beckenham, Claremont and Wembley (12 days); and Fremantle (13 days).
* Active listings – the number of properties advertised on www.reiwa.com at any given time. New listings – new properties listed for sale.
