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Perth’s median house sale price rose 1.4 per cent in January to $750,000, a heart-palpitating 23.0 per cent higher than January 2024, according to REIWA.

The median unit sale price also rose, increasing 1 per cent, and 20.5 per cent year-on-year to $500,000.

REIWA chief executive Cath Hart said prices were rising slower than last year.

The softer market at the moment was typical of festive season activity but also reflected the easing of “FOMO” seen in the latter part of 2024.

Members were reporting that buyers were being more discerning and generally taking more time.

Well-presented homes in sought-after areas were still seeing good numbers at home opens and selling quickly, while other properties could see less interest and take longer.

“While conditions still favour sellers, it is important for them to listen to their agent regarding presentation and appropriate pricing,” she said.

The suburbs that saw the most growth in January:

• Scarborough (up 2.7 per cent to $1,204,000)
• Dawesville (up 2.5 per cent to $717,500)
• Camillo (up 1.8 per cent to $580,000)
• Greenfields (up 1.7 per cent to $590,000)
• Port Kennedy (up 1.5 per cent to $690,000)

Houses in Perth sold in a median 22 days in January, seven days slower than December and 13 days slower than a year ago.

Units sold in a median 17 days, two days slower month-on-month and four days slower than January 2024.

Again, Hart said, this was partly the festive season slowdown but also reflected the change in sentiment.

Autumn might still be busier, but she expected to see days on market increase further over 2025.

Active listings were 8.5 per cent higher than at the end of December and 25.5 per cent higher than a year ago.

Rents also still rising, but slower

Perth’s median rent rose 3.1 per cent to $670 per week in January, 8.9 per cent higher than the same time last year.

“What is of note is the significant decline in the annual growth rates,” Hart said.

“A year ago, the annual growth rate was 18.3 per cent for dwellings, 16.4 per cent for houses and 20.8 per cent for units.”

Listings for rent were also 24.1 per cent higher than December and 17.4 per cent higher than the same time last year.