The West is best: unit prices set for rocket, says REIWA
Unit prices in Perth are set to rocket, according to the state’s Real Estate Institute. Population growth a key factor in the increased demand.
THE median Perth unit sale price could increase by up to 15-20 per cent in 2026, the Real Estate Institute of WA has predicted.
Houses are also tipped for strong growth, with a median rise of more than 10 per cent.
“Perth prices continue to be driven by a significant imbalance between supply and demand,” REIWA President Suzanne Brown said.
“Population growth remains high, with Perth recording 2.2 per cent growth in the year to June.
“And while new home completions in the December 2024 quarter were the highest in seven years, they have declined each quarter since then.”
Both Perth’s house and unit median sale prices ended 2025 at record highs.
The median house sale price recorded 13.3 per cent growth, from $750,000 at the end of 2024 to $850,000 in December 2025.
The median unit sale price increased 20 per cent to $600,000, up from $500,000.
Ms Brown said as houses become less affordable, more people are turning to units, including villas, townhouses and apartments.
One factor that might put the brake on prices is interest rates. While further cuts seem unlikely this year, there is the chance of an increase.
Should interest rates rise more than once in the coming months we could see market activity decrease, particularly in the first home buyer market,” Ms Brown said.
Meanwhile, Perth’s rental market remained relatively stable through 2025.
The median house rent price reached a record $700 in August. It dipped slightly in September before returning to $700 for the remainder of the year.
It ended 4.5 per cent higher over the year, compared to 8.1 per cent in 2024.
Unit rents rose 4.6 per cent to a record $680, a much lower rate of growth than the 14 per cent increase in 2024.
