Despite a slowdown in growth so far this year, WA’s peak real estate industry body is still predicting house prices are on track to grow by 10 per cent in 2025.
REIWA’s 2025 property market quarterly update found house prices were currently trending towards double-digit growth, while unit prices were trending above 10 per cent, however there were a couple of factors that could affect price growth.
President Suzanne Brown said the most significant issue facing the property market at the moment is the Trump tariffs.
“They have the potential to create a recession in the United States and impact economies around the world, particularly some of our most significant trading partners,” she said.
“On the other hand, we have been expecting several interest rate cuts this year and the tariffs and potential for an economic slowdown may bring these forward.”
Perth’s median house sale price recorded preliminary growth of 2.7 per cent in the March 2025 quarter, with the median house sale price rising from $750,000 at the end of 2024 to $770,000.
The median unit price increased 4 per cent to $520,000 over the same period, up from $500,000.
Perth’s house and unit median sale price are both at record highs.
Meanwhile Perth’s median weekly house rent price increased 3 per cent in the March 2025 quarter to $690, while the median unit price was unchanged at $650.
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