Perth City was the most searched suburb on reiwa.com for properties for sale and rent in 2025, for the second year running.
Strong interest in city living comes as Perth’s median dwelling price reached $940,635 by the end of 2025 after an annual growth rate of 15.9%, far exceeding the performance of other capitals except Darwin.
REIWA President Suzanne Brown (pictured left) said Perth City’s appeal reflects both affordability pressures and apartment convenience.
“Our members report strong interest from first-home buyers priced out of detached houses and see an apartment as a way to get a foot in the door,” Brown said. “For some buyers, it’s not the end goal, but it allows them to enter the market, live close to work and lifestyle amenities, potentially renting it out later when they move into a house in the suburbs.”
Buyer behaviour across Perth is also shifting, with locals moving away from ‘wait and see’ caution towards more aggressive strategies to secure properties before prices rise further.
“What we are seeing in Perth right now is a fundamental shift in the psychology of the buyer. In most markets, when prices soar, buyers pull back, waiting for the market to soften, but we’re seeing the exact opposite in Perth,” Buyer’s agent Peter Gavalas (pictured right) said.
Brown said Perth City is also attracting downsizers seeking quality apartments.
“These buyers are looking for a low-maintenance option with strong amenity, often close to services and hospitals, while still having enough space for family to visit,” she said.
Interest is also being driven by the newly completed ECU City campus and proximity to UWA, Curtin, and CBD jobs, with enquiries concentrated in high-apartment corridors such as Hay Street, Adelaide Terrace, and Murray Street.
Across Perth, dwellings sold in a median of just eight days in December 2025 – the lowest ever recorded and well below the five-year average – underscoring a market where supply is struggling to match demand.
Mandurah was Perth’s second most searched suburb for properties for sale and rent in 2025.
“Mandurah continued to attract strong interest due to its coastal lifestyle and relative affordability compared with many metropolitan suburbs,” Brown said. “It appeals to a broad mix of buyers, including families, retirees, and investors. People are drawn to the lifestyle on offer, as well as the services and amenity available.”
Investor interest across WA has been bolstered by gross rental yields of about 3.7% for houses and 5.1% for units, comfortably above the national average and supporting demand in high-interest areas such as Mandurah, Baldivis, and Rockingham.
Other in-demand suburbs included premium inner-city areas Applecross, South Perth, and Subiaco, and outer suburbs Baldivis and Rockingham.
“Baldivis stands out for the number of properties available for sale. It consistently tops our weekly list for the most sales, which reflects the overall size of the suburb and the number of dwellings,” Brown said.
“Rockingham has moved up three places compared with last year. Some members have also reported increased enquiry linked to major defence and infrastructure activity in the area.
“Inner-city suburbs like Applecross, South Perth, and Subiaco remain popular among buyers due to their established amenity, proximity to the CBD and lifestyle appeal."
Brown said suburb search data is a useful indicator of buyer focus, even when it doesn’t result in a purchase in that exact area.
“People often begin their search in suburbs they aspire to live in, then adjust based on what is available and what they can afford,” she said. “In many cases, this leads them to neighbouring areas, sometimes called ‘bridesmaid suburbs’, where they can access a similar lifestyle with a different price point.”
Gavalas said this trend is increasingly deliberate, with many buyers now targeting ‘bridesmaid’ suburbs to secure similar lifestyle benefits at more accessible price points – in line with search activity across neighbouring, comparatively affordable areas.
He said buyers are also coming to market more prepared, with finance in place so they can act quickly.
“Overall, they are more prepared. They have pre-approval in place before they begin their search, so that when the right property comes around, they’re ready to prove to the vendor how serious and capable they are,” Gavalas said.
“We're seeing a massive uptick in pre-market and off-market activity. With days on market down to single digits, buyers understand that by the time a property hits the major portals, they're already behind the competition.”
Gavalas said Perth’s history of volatility has shaped this mindset.
“Perth buyers have experienced volatility before,” he said. “The mining boom two decades ago taught this market some hard lessons about timing and opportunity cost.
“That institutional knowledge means buyers here are less likely to be paralysed by rising prices and more willing to act strategically. Strategy has replaced patience as the critical buying skill. The buyers succeeding in this market aren't those with the biggest budgets, but those who understand the market now demands a different playbook.”
Perth City also topped suburb searches for rent in 2025.
“Perth City continued to attract a broad mix of tenants, with REIWA members reporting strong demand from professionals and corporate tenants,” Ms Brown said.
“There are a high number of furnished apartments, which is particularly valuable for people moving interstate and overseas who can arrive with minimal belongings and move straight in.
“We’re also seeing strong interest from young professionals, couples wanting a central base when working across the metro area, and downsizers looking for low-maintenance living.”
“Location, walkability and proximity to work, transport and everyday amenities often outweigh size considerations. The strongest enquiry tends to be for properties up to $850 per week, where tenants see value once reduced commuting time and lifestyle benefits are factored in.”
These preferences echo the broader strategic mindset in Perth, with both buyers and renters prioritising time, lifestyle, and long-term value over simply maximising dwelling size.
Mandurah was the second most searched suburb for rent, drawing tenants with the same lifestyle and affordability advantages that appeal to buyers. Baldivis, Rockingham and Joondalup also featured in the top 10 rental searches, while Geraldton was the only regional suburb to make the list.
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