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Perth Real Estate Market & Suburb Profile
Perth Real Estate & Property Market
Perth is Western Australia’s capital and largest city (Greater Perth pop. ~2.3 million), known for its sunny climate, riverfront and ocean beaches. The metro area sits between the Indian Ocean and Darling Range, with landmarks like the Swan River foreshore (Elizabeth Quay), Kings Park (one of the world’s largest inner-city parks)and nearby Rottnest Island. Residents enjoy a relaxed outdoor lifestyle – from Cottesloe and Scarborough beaches to vibrant CBD cafes and arts festivals. Families are attracted to quality schools and universities (e.g. UWA) and ample green spaces, while shops and restaurants abound in precincts like Subiaco, Fremantle and the Perth CBD. Wide highways and new transport projects link inner and outer suburbs, and a growing arts/cultural scene adds energy to the city. Perth’s economy (mining, tech, healthcare) and high livability make it a desirable metro region in 2025. Perth’s city centre skyline and Swan River at dusk showcase the city’s riverfront lifestyle (Metropolitan Perth).
Overall the Perth housing market remains competitive. Median home values are near all-time highs – around $918,000 for houses as of early 2025 – reflecting strong demand. Low vacancy and tight supply keep rents high too. The atmosphere across Perth is generally relaxed and family-friendly: golf courses, river parks and coastal walks are common recreational features. The city is also growing – new suburbs and infill projects are expanding Perth’s boundaries. Over the past year, local house prices have seen healthy increases (especially in growth corridors to the east and south) – Perth’s market even outpaced other capitals in early 2025. In summary, Perth offers a balanced urban lifestyle with solid fundamentals and lots of community amenities.
Balga Real Estate Suburb Review
Perth’s property market is in expansion mode, with prices on the rise. Domain’s March 2025 report shows the median house price at roughly $917,700 (up about +14.1% year-on-year). In fact, Perth is “on track to hit $1 million by the end of 2025”, reflecting robust growth after a recent downturn. Units/apartments are also lifting: median unit prices are around $508,000 (with +19.1% YoY in late 2024). In the last 12 months, outer suburbs have seen the fastest gains – for example Swan Valley (+16.8% YoY) and Mundaring (+15.7%) posted the strongest house-price growth. Generally, Perth’s market is stronger than the WA average, as Perth’s status as the economic and social hub drives continual interest.
- Houses: Predominantly detached brick homes on 500–700 m² blocks. The typical 3–4 bedroom family home in Perth has a median price around $770,000 (based on recent sales). (By comparison, Domain reports about $918K in Mar 2025, indicating rising trends.) Growth has been concentrated in growth corridors – for example, suburbs like Swan View, Mundaring and Kwinana saw double-digit gains recently.
- Townhouses: Low- to mid-density infill villas and townhouses are increasingly common near inner suburbs and new estates. These 2–3 bedroom homes appeal to first-home buyers and downsizers, offering a stepping-stone between apartments and detached houses. They remain a smaller segment but growing, especially close to new train stations or amenities.
- Units/Apartments: More prevalent in the CBD, Northbridge, Scarborough and near universities. Perth’s apartment stock includes older complexes and newer mid-rise towers. Median unit prices are around $520,000(with Domain showing ~$508K). Buyers here are often investors (for rental yield) and young professionals or retirees seeking low-maintenance city living.
- Land/Lots: New land releases on the urban fringe (e.g. Alkimos, Banksia Grove, Baldivis) have a median block price of about $330,000. Many Perth homebuyers build on these lots. Demand for land is supported by overall population growth and government incentives; available lots in growth suburbs help keep the housing supply steady.
- Population Growth: Perth’s metro population has been steadily growing (~2.3 million), fueling buyer demand across all types of homes.
- Location & Lifestyle: The city’s outdoor lifestyle (beaches like Cottesloe, parks like Kings Park, river vistas) and high amenity value (cafes, schools, festivals) make many suburbs highly desirable. Inner areas near the Swan River or waterfront (e.g. East Perth) attract premium prices, while family-friendly outer suburbs remain popular.
- Transport & Infrastructure: Continuous upgrades (new METRONET rail lines, highways, etc.) are making more areas accessible – boosting demand in those suburbs. Better connectivity to CBD means buyers are willing to look further out.
- Economy & Employment: A strong WA economy (mining, resources, healthcare, education) underpins confidence. New employment hubs – such as the Murdoch Health & Knowledge Precinct – attract workers who want homes nearby. (Healthy job growth helps keep property demand strong.)
Overall, a mix of first-home buyers, young families and investors are active in Perth. First-time buyers benefit from market entry-level housing (townhouses or smaller houses), while investors chase the city’s high rents. Demand is broad-based, driven by Perth’s livability and continued economic strength.
Perth Infrastructure and Developments
Major infrastructure projects are reshaping Perth’s landscape and boosting its property appeal. A large focus is on public transport: the METRONET program has added and is adding new rail lines. For example, the Yanchep Rail Extension (opened 2023) pushed the Joondalup line 14.5 km north with stations at Alkimos, Eglinton and Yanchep, connecting thousands of residents. Similarly, the Byford Rail Extension will soon extend the Armadale line ~8 km south to a new station in Byford (due mid-2025), delivering a ~42-minute CBD link to Perth’s fastest-growing outer town. Perth’s first east–west link, the Thornlie–Cockburn rail line, is also part of the Armadale Line Transformation and is set to open in June 2025. These rail projects – plus new Park-and-Ride stations – greatly improve connectivity across metro Perth. In addition, Perth is expanding its ferry network: the government is planning to add modern electric ferries and new stops at Applecross and the University of WA, linking to the Elizabeth Quay–South Perth service. Highway upgrades (e.g. NorthLink WA, Tonkin Gap) are also easing commutes, making distant suburbs more accessible.
Perth’s redeveloped CBD and suburbs (including Elizabeth Quay and the Optus Stadium precinct) benefit from major transport and city-centre projects.
On the cityfront, large redevelopment projects are underway. The Perth Riverfront (Elizabeth Quay) Masterplan was launched to transform the waterfront into a world-class urban park. In Northbridge, streets like James Street and Russell Square are being upgraded for pedestrian and event use. Major city land precincts are delivering new housing and retail: the Perth City Link saw the completion of the 32-storey Perth Hub tower (314 apartments, 37 of them affordable). Nearby, plans are advancing for hundreds of student apartments (1,100+ beds) and tens of thousands of square meters of offices and hotels in the CBD. Across the water on the Elizabeth Quay peninsula, a $1.1 billion mixed-use project (Lots 5&6) by Brookfield will include two towers with 220 luxury riverfront apartments, a hotel, offices and retail, adding lifestyle and jobs downtown.
Beyond the CBD, other precincts are growing. In the south, the Murdoch Health and Knowledge Precinct is under construction: it will create a new city hub 12 km from Perth CBD, providing ~35,000 jobs, education for 44,000 students, and up to 22,000 homes in time. In East Perth, heritage sites like the old power station are being turned into mixed-use developments (retail, offices, housing). Even entertainment and leisure hubs are getting upgrades. For instance, the Optus Stadium precinct now has new hotels and apartments, and Scarborough Beach is in line for future redevelopment.
These infrastructure and development projects are improving Perth’s amenity and connectivity, lifting the appeal of nearby suburbs. Buyers are taking notice of the new train stations, parks and shopping centres around these projects, which support higher home values in those areas.
Why Xceed Real Estate Should Be Your Perth Selling Partner
Selling with Xceed Real Estate means tapping into award-winning local expertise. Our Perth team lives and works in WA, with deep knowledge of each neighbourhood’s market. We use targeted marketing (digital campaigns, professional photography and staging, and savvy listing on all major portals) to reach the right buyers for Perth homes. Our agents are skilled negotiators who consistently achieve top prices – in fact, Xceed has won industry awards for excellence. We pride ourselves on service: personalized guidance through every sale step, clear communication and support.
Selling in the Perth metro area requires local insight and a proactive approach – exactly what Xceed provides. We understand Perth’s suburbs and what buyers want here (from beachfront apartments to suburban family homes). Before you list, we offer a no-obligation Free Appraisal of your property’s market value, using the latest data and local comparables. Our strong track record in Perth (backed by client reviews and sales results) shows our commitment to achieving results.
When you choose Xceed as your selling partner, you benefit from: our market-leading WA presence, award-winning agents, expert digital and on-ground marketing, and dedicated support from listing to settlement. Let us help you navigate Perth’s market in 2025 – contact Xceed Real Estate today to book your Free Appraisal and get started on selling your Perth home.