Perth recorded a 4.1% rise in sales transactions last week, with REIWA members reporting a total of 934 transactions for the week ending June 15.
House sales climbed 8% and land sales surged 40%, while unit sales dropped 19.9% compared to the previous week.
Perth’s highest recorded sale price was $6,200,000 in Claremont, while the lowest sale was $325,000 in West Perth.
Perth’s median home value has now overtaken Melbourne’s for the first time in a decade, according to PropTrack’s May index—a reflection of the city’s sustained market strength and tightening stock.
Looking ahead, expanded state and federal incentives are tipped to further heat up Perth’s sub-$850,000 market from early 2026. These include stamp duty relief and low-deposit, no-LMI loan schemes, which are expected to drive first-home buyer demand, according to Resolve Property Solutions.
There were 4,073 properties for sale in Perth, down 1.7% from the previous week. This was driven by a 2.3% fall in house listings and a 1% decline in unit listings, while land availability remained stable.
Listings have fallen 14.1% over the past four weeks, but remain 25.2% higher year-on-year, reflecting increased supply since mid-2024.
REIWA members reported 2,426 rental properties available last week, a 4.8% increase from the week prior. Listings were also up 1.8% over the month but 2.2% lower than the same time last year.
Leasing activity saw 657 properties rented, 0.9% lower than the previous week but still 9.1% higher than four weeks ago. Compared to a year ago, leased volumes were down 3.4%.
