The fear of missing out (FOMO) returned to the Perth property market in the September 2025 quarter.
REIWA President Suzanne Brown said, after easing slightly earlier in the year, the Perth sales market accelerated in the September quarter.
This was a result of ongoing strong demand and a decline in new listings.
“New listings in Winter 2025 were at the lowest level since Winter 2019. We also didn’t see a significant increase in new listings as we moved into Spring,” Ms Brown said.
“We saw very strong competition for the limited number of homes for sale, and as a result, the time to sell a property declined and the rate of price growth increased.”
According to the latest Real Estate Institute of Australia (REIA) Real Estate Market Facts report*, the median sale price for houses in Perth increased 2.7 per cent to $850,000 over the September 2025 quarter. This was an annual increase of 11.4 per cent.
The median sale price for other dwellings (which includes home units, townhouses, flats/apartments and terrace homes) in Perth rose 5.9 per cent over the quarter to $609,000. It was 18.3 per cent higher over the year.
Ms Brown said the very strong rate of growth for other dwellings was a continuing trend.
“Villas, home units, and apartments are generally a more affordable alternative to houses for people looking to enter the market, particularly” she said.
“Competition for these types of homes has increased and put greater upward pressure on prices.”
In the three months to September, the median sale price for houses increased in all capital cities. Median sale prices for other dwellings rose in Sydney, Melbourne, Brisbane, Adelaide, and Hobart, but declined in Canberra and Darwin.
