According to the latest REIWA data, houses in Greater Perth reached a median sale price of $820,000 in October 2025, up 1.2 per cent from $810,000 at the end of September and 12.3 per cent higher than October last year.
Suburbs that saw the most house price growth in October were Jindalee (up 2.1 per cent to $960,000), Southern River (up 1.6 per cent to $935,000), Doubleview (up 1.6 per cent to $1,275,000), Bayswater (up 1.5 per cent to $1,047,544) and Swan View (up 1.4 per cent to $700,000).
REIWA President Suzanne Brown said monthly increases in the median price were likely to continue as long as demand was high and the number of listings remained at or near record lows.
"We have continuing population growth; we have new home buyers entering the market due to the 5 per cent deposit under the Home Guarantee Scheme; and we simply do not have the housing stock to meet the demand," she said.
"People are not listing their homes due to concerns about securing a new place to live and new home completions are not meeting pent up demand.
"We have seen a very slight increase in listings in October, compared to September, but listings of properties for sale remain 44.5 per cent lower than the same time last year."
Listings for sale were 2,793 at the end of October, compared to 2,744 for September. This was 1.8 per cent higher than September, but 44.5 per cent lower than one year ago.
"Many homes that are coming to market are selling very quickly and have multiple offers on the table. During October for example, homes in Yokine, where the median price is $1,020,000, were snapped up in only two days," Ms Brown said.
According to www.reiwa.com data, the fastest selling suburbs for houses in October 2025 were Yokine (2 days); Kinross (4 days); Waikiki, Spearwood, Orelia, Kardinya, Golden Bay and Beechboro (5 days); Woodvale and Wellard (6 days).
Unit prices rising
Perth unit sales continue to see a fast rate of sales growth compared with houses.
The median unit sale price, which includes villas, flats, townhouses and apartments, rose over the month, increasing 2 per cent to $571,000. This was 17.7 per cent higher year-on-year.
Sale times for units hit record pace in October. Units sold in a median of eight days, one day faster than September 2025 and four days faster than a year ago.
"Sale times for units are as fast as we've seen in at least 25 years. We believe this is an affordability issue, with buyers looking beyond stand-alone houses, to different housing types for affordability and lifestyle factors," Ms Brown said.
"With the Home Buyers Guarantee helping first home buyers into the market, and price limits on first home buyer stamp duty exemptions, it seems units are seeing increasing buyer interest."
Fewer sales
The lack of properties offered for sale has seen an overall fall in the number of properties changing hands. October saw a total of 3,147 sales, compared to 4,284 in October last year, a fall of 26.5 per cent.
"We were expecting to see a bigger uptick in the number of homes coming to market in what would normally be considered the busy Spring selling period. We are two months into Spring, and while there are some hopeful signs, we are yet to see a significant increase in the number of homes listed," Ms Brown said.
Perth rental market
The median dwelling rent increased by close to 3 per cent last month, rising to $700 per week, a 2.9 per cent jump from September and 7.7 per cent higher than a year ago.
The median weekly rent for houses rose to $700, a 0.7 per cent increase over the month and 7.7 per cent higher than October 2024.
Rents for units were also rising, up 1.1 per cent over the month and 7.2 per cent higher than October 2024, at $670 per week.
According to www.reiwa.com, the suburbs that saw the most growth in their median weekly dwelling rent price in October 2025 were Claremont (up 5.9 per cent to $900), Bentley (up 5.4 per cent to $737), Mount Lawley (up 5.2 per cent to $660), High Wycombe (up 5.1 per cent to $720) and Hamilton Hill (up 4.8 per cent to $650).
Como, Spearwood, Yokine, West Perth and Perth also saw rents increase, recording growth of 3.5 per cent or more over the month.
According to www.reiwa.com, the suburbs that saw the most growth in their median weekly unit rent price in October 2025 were Claremont (up 9 per cent to $790), Como (up 4.8 per cent to $650), Perth (up 4.2 per cent to $750), Midland (up 4 per cent to $590) and Subiaco (up 3.5 per cent to $735).
"The Perth market usually sees some tightening in the rental sector toward the end of the year," Ms Brown said.
Listings for rent
There were 2,137 properties available for rent on www.reiwa.com at the end of October 2025. This was 1.9 per cent higher than September 2025 and 9.3 per cent higher than the same time last year.
Median leasing times
Homes leased in a median of 16 days during October 2025, no change from September 2025 or 12 months ago.
www.reiwa.com data showed the suburbs recording the fastest median leasing times were Shenton Park (6 days); Joondalup (7 days); Innaloo (10 days); Morley, Clarkson and Fremantle (11 days); Madora Bay, Jindalee, Balga and Joondanna (12 days).
