Perth’s property market has been making waves, standing out as one of Australia’s hottest real estate markets in recent years. While property prices are on the rise and competition remains fierce, first-home buyers (FHBs) need not lose hope. With strategic planning, the right resources, and informed decision-making, owning your first home in 2025 is more achievable than it may seem. Here’s a closer look at Perth’s thriving property market, the opportunities for FHBs, and actionable tips to help you take that exciting step onto the property ladder.
Perth’s Property Market in 2025
Western Australia’s capital continues to outpace other Australian cities in property market growth, with strong economic fundamentals driving demand. According to the Real Estate Institute of Western Australia (REIWA), Perth saw median house prices rise to $770,000 as of March 2025, reflecting a 2.7% quarterly increase. This growth, although slightly slower than the rapid gains of 2024, remains a testament to the city’s robust housing market.
What’s fuelling this growth?
- Economic Strength: WA’s strong mining and renewable energy sectors have solidified its position as one of Australia’s top-performing economies.
- Population Growth: With more people migrating to Perth, demand for housing has surged in both established and new suburbs.
- Infrastructure Development: Expanded transport links, schools, and community facilities continue to draw buyers into Perth’s thriving regions.
Despite increasing prices, Perth remains a more affordable option making it an ideal opportunity for FHBs to enter the market.
A Bright Future for Perth First-Home Buyers
Feeling ready to take the leap? Here’s a step-by-step approach to securing your first home in 2025:
1. Assess Your Budget
Understand your financial situation by calculating all costs involved, including deposits, stamp duty, and ongoing loan repayments. Don’t forget to factor in additional costs like moving expenses or property maintenance.
2. Get Pre-Approval
Having a loan pre-approval not only strengthens your bargaining position but also sets a clear limit on what you can afford, helping you focus on properties within your budget.
3. Scout for Affordable Suburbs
Don’t get stuck chasing the hottest, most expensive locations. Many up-and-coming suburbs in Perth offer fantastic lifestyle perks and room for capital appreciation.
4. Consider Apartment Living
If houses in your chosen suburb are out of budget, consider units or townhouses. Perth’s median apartment prices are currently around $520,000, offering a more affordable entry point while still participating in the city’s growth.
5. Lean on Experts
Partner with property consultants, realtors, or brokers who specialise in Perth’s real estate market. They can provide invaluable advice and access to opportunities before they hit the open market.
Tips to Get Into Your First Home
With Perth’s strong economic outlook, steady price growth, and government initiatives aimed at supporting first-home buyers, 2025 presents a window of opportunity to secure your piece of Australia’s top-performing property market. Between affordable suburbs and strategic development projects, there’s room for FHBs to thrive..