Perth Quarterly Price Growth Tops Same Time Last Year

Perth median house prices reached $680,000 in the June quarter, marking a 3.8 per cent increase from the March quarter and outrunning the 2.1 per cent growth posted in the corresponding period last year.

The stronger quarterly result comes as mining-related employment keeps pulling workers into the state and keeps rental vacancy below 1 per cent across the metropolitan area. Buyers who delayed purchases in 2025 now face tighter stock levels and rising weekly rents that reached new peaks in several northern postcodes.

Joondalup and Wanneroo recorded the largest quarterly lifts, with median prices in Joondalup climbing to $695,000 and sales along Grand Boulevard and Lakeside Drive clearing within 14 days. Wanneroo agents reported similar speed on blocks near the Wanneroo Town Centre, where new subdivisions drew FIFO workers seeking three-bedroom homes under $750,000.

REIWA data released on 7 July showed 4,812 sales settled in the June quarter, up 11 per cent on the same three months of 2025. The sub-1 per cent vacancy rate measured by SQM Research in May remained steady, with the lowest figures logged in the 6027 and 6065 postcodes that cover Joondalup and parts of Wanneroo.

Stock Shortage Pushes Buyers North

Properties listed on the market in central Perth fell 9 per cent year-on-year, forcing more first-home buyers and investors toward the northern corridor. The City of Joondalup’s housing strategy update, released in May, flagged an additional 2,800 dwellings needed by 2028 to meet current demand. Local agents said mining contractors have pre-committed to leases on new townhouses near the Joondalup Health Campus, removing those homes from owner-occupier stock before they reach the open market.

What Buyers Should Watch Next

Interest-rate decisions scheduled for August will determine whether the current quarterly pace continues into spring. Prospective purchasers should monitor weekly rental yields in Wanneroo and Joondalup, where returns now sit above 5 per cent gross. Checking REIWA’s weekly clearance rates and the City of Joondalup’s planning portal for new release dates remains the most direct way to stay ahead of fresh stock entering the northern suburbs.

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.