Perth Property Growth Slows to 3.4% From 9.1% Year Ago

Perth median house prices rose 3.4 per cent in the three months to June, down from the 9.1 per cent gain recorded in the same quarter last year.

The result matters because buyer activity has concentrated in the outer northern corridors where mining contractors and FIFO workers continue to seek three- and four-bedroom homes within an hour of the CBD. With vacancy rates sitting below one per cent, stock is moving quickly but at more measured price increments than the 2025 surge.

Joondalup and Wanneroo corridors set the pace

Sales along Lakeside Drive in Joondalup and the Marmion Avenue strip through Wanneroo accounted for 28 per cent of all detached-house transactions lodged with Landgate in the quarter. Properties in the $720,000 to $780,000 band cleared fastest, often after one weekend of inspections. The City of Joondalup’s new rate-relief program for first-home buyers settling before September has added another layer of demand in these postcodes.

Median values in these two local government areas now sit at $695,000, up from $672,000 twelve months ago. That 3.4 per cent lift contrasts with the 9.1 per cent jump between June 2024 and June 2025 when multiple mining projects were ramping up simultaneously.

Market data and buyer signals

CoreLogic’s June quarter index for the Perth metro area shows the annual growth rate has eased from 18.7 per cent in mid-2025 to 11.2 per cent now, confirming the quarterly deceleration. Auction clearance rates across the capital remain above 70 per cent, though average days on market have lengthened from 11 to 17.

Buyers who missed the 2025 run-up should inspect before the spring selling season begins in September. Checking Landgate sales records for the specific street and confirming settlement timelines with local agents remain the most reliable next steps before making an offer in the current environment.

This article is general information only and is not personal financial or investment advice. Consider your own circumstances and seek licensed professional advice before making financial decisions.