Perth's Property Market Sees Unit Prices Spike Amid Growing Affordability Concerns

The median house price in Perth is expected to increase by 10 per cent between January and December, while unit prices are set to skyrocket by 15 per cent over the same period, according to the Real Estate Institute WA's 2025 property market quarterly update. This growth in unit prices is attributed to the increasing demand for affordable alternatives to houses, driven by the strong rise in house prices. Meanwhile, the median weekly house rent price in Perth has decreased by 2.2 per cent, while the median unit rent price has risen by 1.5 per cent.

Key Takeaways:

• The median house price in Perth is expected to increase by 10 per cent between January and December, with unit prices spiking by 15 per cent over the same period.
• The Real Estate Institute WA's 2025 property market quarterly update attributes the growth in unit prices to the increasing demand for affordable alternatives to houses.
• The median sale price growth for villas and home units has been higher than that for apartments, with people preferring to have their own courtyard and a garage next to their home.
• Policymakers are urged to focus on medium-density development as this appears to be a preferred choice for consumers addressing Perth's housing issues.
• The top 10 performing suburbs in Perth saw annual growth in house prices over 28 per cent, while the top 10 performing suburbs for unit prices recorded growth over 32 per cent.
• The median house rent price in Perth decreased by 2.2 per cent, while the median unit rent price rose by 1.5 per cent.
• The rate of growth in house prices has been easing due to an increase in supply and a softening of demand.

Statistics:

• Median house price increase: 10 per cent between January and December.
• Median unit price increase: 15 per cent between January and December.
• Median weekly house rent price decreased by 2.2 per cent.
• Median weekly unit rent price rose by 1.5 per cent.
• Median house rent price annual growth: 4.6 per cent.
• Median unit rent price annual growth: 10.0 per cent.

Sources:

• Real Estate Institute WA's 2025 property market quarterly update.
• Suzanne Brown, Institute president.