July Market Summary

In July, Perth’s median house price rose 0.9 per cent higher than June, and 4.7 per cent higher than a year ago, to a new high of $560,000.

CoreLogic’s Perth home value index also increased 1 per cent in July and 3.2 per cent over the past three months.

Listings for sale in Perth fell to 5,181 at the end of July, which is 3.1 per cent lower than June, and 39.4 per cent lower than 12 months ago.

Properties are still selling at a median of just 10 days – a record low, unchanged from June.

Moving into Spring, it is expected more listings will come to market, although it will be some time before we return to a traditional balanced market.

At the end of July, there were 1,876 properties available for rent, which is a 11.8 per cent decrease from June, and 16.4 per cent lower than 2022.

With both sales and rental supply low, and continued high demand, market conditions look to remain tight over the coming Spring / Summer months.