WA Property Outlook: Why 2025 May Be the Year to Buy

Prash Nayar
Jan 13, 2025
2 min read

A Strong Finish to 2024 Sets the Scene

Western Australia’s property market finished 2024 on a high, with Perth’s median house price leaping from around $600,000 to $745,000 — one of the strongest growth spurts in the country. Limited listings, tight vacancy rates, and strong population inflows kept pressure on supply, leaving buyers scrambling for opportunities.

Now, as we step into 2025, the question on everyone’s lips is: Will the boom continue, or is it time to take a cautious approach?

Forecasts Point to Continued Growth

Analysts expect Perth to remain one of Australia’s best-performing markets in 2025. REIWA forecasts another 5–10% price growth, while national reports from CoreLogic and PropTrack point to Perth outperforming the east coast.

What’s driving this resilience?

Population Growth: WA continues to attract skilled workers, particularly in mining, healthcare, and construction.
Low Stock Levels: Listings remain at decade-low levels, keeping competition strong.
Relative Affordability: Even after growth, Perth remains cheaper than Sydney, Melbourne, and Brisbane — appealing to interstate and overseas investors.

What This Means for Buyers

For first-home buyers and upgraders, the message is clear: waiting may cost more. If prices rise even modestly, affordability will slip further. Buyers should:

Secure finance pre-approval early to move quickly.
Target suburbs with long-term growth fundamentals — near transport hubs, schools, and lifestyle amenities.
Consider off-market opportunities where competition is lower.

What This Means for Investors

Rental yields in Perth remain among the highest in the nation, averaging over 4.5% for houses and 6% for units. With demand for rentals far outpacing supply, investors are in a strong position to benefit from both capital growth and rental returns.

Suburbs like Armadale, Gosnells, and Rockingham remain investor favourites for their entry-level affordability, while established areas such as Joondalup and Bassendean are tipped to hold value well.

Should You Wait or Buy Now?

The old adage holds true: the best time to buy was yesterday, the next best time is today. While markets move in cycles, the underlying fundamentals in WA suggest that waiting for a “dip” could mean being priced out further.

If 2024 was the year of acceleration, 2025 may be the year of consolidation with steady gains — a healthier, more sustainable market. Buyers who act strategically, rather than emotionally, will find themselves best positioned.

✅ Takeaway: 2025 is shaping up to be another strong year for WA property. For those who’ve been sitting on the sidelines, now may be the right time to act — before competition heats up again.