The Big Picture

Perth's property market has been one of the strongest performers in Australia over the past three years. While east coast markets have cooled, WA continues to see solid demand driven by population growth, mining investment, and relative affordability compared to Sydney and Melbourne.

The median house price in Perth now sits around $750,000, up significantly from $550,000 just three years ago.

Suburbs to Watch

Baldivis

This southern corridor suburb continues to offer strong value for families with a median around $550,000. New infrastructure including schools and shopping centres is driving demand.

Scarborough

The beachfront redevelopment has transformed Scarborough into one of Perth's most desirable coastal suburbs. Apartment demand is particularly strong.

Midland

Once overlooked, Midland is benefiting from the Metronet rail upgrades and significant government investment. Median prices remain under $500,000, making it attractive for first-home buyers.

Rockingham

With excellent beaches, a new foreshore precinct, and improving transport links, Rockingham offers coastal living at a fraction of the price of northern beach suburbs.

Key Trends

• Rental vacancy rate: Still critically low at around 0.7%, putting upward pressure on rents
• Interstate migration: WA continues to attract workers from the east coast, adding to housing demand
• Interest rates: The RBA's recent hold has provided some stability, but affordability remains a concern for many buyers
• New builds: Construction approvals are up but delivery times remain long due to labour and material shortages

What It Means for Buyers

If you're looking to buy in Perth, the key advice from local agents is: be prepared to move quickly. Properties in desirable suburbs are often selling within days of listing, frequently above asking price. For the latest data, REIWA publishes monthly market reports.