Does Perth’s property market still have steam left in 2025?

Category: Insight | Dated: March 21, 2025
a graph of a market
While Perth’s property market has cooled somewhat from its peak, it’s still considered strong with continued growth expected, though at a slower pace than in 2024. 
Here’s a more detailed look at the current situation:
  • Slowing Growth, but Still Rising:

    Perth property prices are still rising, but at a slower pace than seen during 2024. 

  • Discerning Buyers:

    Buyers are becoming more discerning and are generally taking more time with their purchasing decisions. 

  • Rental Market Cooling:

    Perth’s hot rental market is simmering and is expected to cool further into 2025, with rents stabilizing and the tight vacancy rate loosening. 

  • Rental Vacancy Rate:

    The rental vacancy rate is expected to remain elevated compared to the lows of 2020-2024, but is unlikely to reach a truly balanced state in the near term. 

  • Luxury Market:

    Perth’s luxury property sector is still performing well, with some areas seeing strong demand despite a global market slowdown. 

  • Demand Remains Robust:

    Despite the easing, tenants will continue to face challenges as demand for rental properties remains robust. 

  • Investment Potential:

    Perth is considered a good place to invest in property in 2025 due to strong demand, low vacancy rates, and increasing property prices. 

  • Suburbs with Strong Growth:

    Some suburbs in Perth have seen significant price growth, while others have seen price declines. 

  • Affordable End of Market:
    The growth momentum in the affordable end of the market is likely to carry through next year despite rate cuts.
Source for the data and image: Htag data as of 21 March 2025
Source for the content: Different knowledge artefacts available across platforms such as Corelogic, Real Estate websites

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