Homes for sale in Perth have dropped to a record low, with just 1,881 properties listed at the end of December, according to www.reiwa.com data.
This was 35.5% lower than November and 57.2% lower than December 2024, in line with a broader national upswing in 2025 that saw double‑digit price growth across thousands of suburbs amid rate cuts, tight supply and strong migration.
REIWA President Suzanne Brown (pictured) said the seasonal slowdown had been amplified by strong demand and months of weak new listing volumes.
“Historically, active listings decrease in December," Brown said. "At this time of year, the number of new listings slows – people are busy with the festive season, or go away, and put their plans to sell on hold – and active listings decline as a result."
“However, new listings have been significantly below long-term averages in the last six months. New listings in Winter were 11.5% below the 10-year average, with new listings in spring 15% below the 10-year average.
“By comparison, demand remained extremely high. We saw FOMO return to the market, with our members reporting strong competition for homes, offers well over the asking price in many cases, and homes selling in record timeframes.
“The significant imbalance between demand and supply saw active listings fall dramatically in December.”
She said many owners who would like to sell are being held back by concerns about where they will move.
“Our members report there is a logjam in the market,” Brown said.
“People want to sell, but with the speed of sales and relatively low availability of homes, they are concerned about finding somewhere to live.
“They don’t want to be rushed into buying a new home, and it still remains challenging to find a short-term rental, especially if you need to remain in a certain area for work or schooling reasons."
The REIWA leader said new and active listings traditionally increased in January.
“However, due to the current constraints in the market, we may not see as much of an increase as we have in previous years,” Brown said.
Perth’s median house sale price continued its upwards trend, reaching a new record of $840,000 in December. This was a 1.2% increase on November and 12% higher than a year ago.
The median unit sale price also rose, lifting 1.7% over the month and 18% over the year to a record $590,000.
Brown said the market was recording strong growth, with units continuing to outpace houses.
“While the rate of growth for the median house sale price is half that seen at the end of 2024, the median unit sale price is at a similar level,” she said.
“Houses have become less affordable and we have seen more buyers look to the unit market, which includes villas, apartments, and home units, as a more affordable entry point to property ownership.
“This increased competition has boosted the rate of price growth.”
According to www.reiwa.com data, the suburbs that saw the most median house sale price growth in December were Lesmurdie (up 4.3% to $1,085,000), Attadale (up 3.2% to $1,912,505), Swan View (up 3.2% to $735,000), Carlisle (up 2.9% to $890,000), and Kewdale (up 2.5% to $835,000).
Harrisdale, Mosman Park, Noranda, Hamilton Hill, and South Perth were also among the top performers, recording growth of 1.6% or more over the month.
Houses and units sold in a median of nine days in December, both seven days faster than a year ago.
“These very tight timeframes indicate the consistently strong demand in the market,” Brown said.
“At the same time in 2024, the speed of sales had slowed to 16 days and remained around this level in early 2025. However, we saw a much stronger surge in new listings in the 2024 spring selling season than we did in spring 2025, which eased some of the pressure in the market at that time.”
According to www.reiwa.com data, the fastest selling suburbs for houses were Parkwood (three days); Warnbro (four days); Girrawheen, Waikiki and Dayton (five days); and Nollamara, Kingsley, Kelmscott, Brabham, and Bibra Lake (six days).
Perth’s median dwelling rent remained stable at $700 per week in December. This was 7.7% higher than the same time in 2024.
The median weekly rent for houses was also unchanged at $700 but was 4.5% higher than December 2024.
The median rent for units rose to $680 per week, 3% higher than November and 4.6% higher year-on-year.
Brown said the rental market continued to record periods of stability, interspersed with periods of relatively small growth.
“Although the market has eased over the last year and a half, we still consider it to be constrained,” she said.
“Conditions are not uniform across Perth. It can be quite easy to find a property in some areas, such as those suburbs that have seen a lot of new builds become available. In other areas, particularly closer to the city, there are still long queues at home opens and multiple applications for available rentals.”
According to www.reiwa.com, the suburbs that saw the most growth in their median weekly house rent price in December were Balga (up 5.7% to $700), Secret Harbour (up 4.5% to $700), Hamilton Hill (up 4.4% to $710), Spearwood (up 4.2% to $750), and Kelmscott (up 3.3% to $620).
The suburbs that saw the most growth in their median weekly unit rent price in December were Crawley (up 7.9% to $680), Fremantle (up 4.2% to $750), Subiaco (up 4.2% to $750), Wembley (up 3.6% to $580), and Como (up 3.4% to $677).
Listings for rent
There were 1,716 properties available for rent on www.reiwa.com at the end of December. This was 23.6% lower than November and 3.9% lower than the same time in 2024.
Homes leased in a median of 16 days in December, one day slower than November and a year ago.
www.reiwa.com data showed the suburbs recording the fastest median leasing times were Piara Waters (nine days); Subiaco and Leederville (10 days); Yanchep, Joondalup and Palmyra (12 days); and Wembley, Morley, Kewdale, and Crawley (13 days).
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