Perth property hits new highs as prices surge, listings dry up and affordability tightens
Perth closed 2025 with record prices, collapsing supply and intensifying competition, pushing the city into Australia’s million-dollar club and reshaping buyer, renter and investor behaviour heading into 2026.
Western Australia is the nation’s fastest-growing state in terms of population growth. (Image source: Wirestock Creators/Shutterstock.com)
Perth’s property market closed 2025 in emphatic fashion, with record prices, rapid sales and historically low listings underscoring one of the strongest growth cycles the city has experienced in decades.
According to REIWA data, Perth’s median house sale price reached a record $840,000 by December, while the median unit price climbed to $590,000. Both figures marked the highest levels on record, capping a year of double-digit growth across most …
