The Perth property market recorded very strong price growth over 2025-26. This was due to lower-than-average new listings for the three quarters of the financial year, and strong demand.
The unit market, which includes a significant number of strata titled properties, outperformed the housing market for both the rate of price growth and speed of sales in 2025-26.
At the end of the financial year, the median unit sale* price rose 22.7 per cent to $675,000 over the year**, while the median house price rose 16.9 per cent to $935,000. The median time to sell a unit dropped to a record low of seven days in February, while the median time to sell a house was eight days that month.
The high level of growth in the unit market has generally been a reflection of the demand for affordable housing, particularly near the city or key lifestyle hubs. However, performance varied across the four main types of unit market – villas, townhouses, home units and apartments.
In this edition we look at the sale price growth, selling time, rent price growth, time to lease, and yield, for each unit type and compare them to the unit market as a whole.
I will note that the market started easing in the last quarter of 2025-26, and the extremely strong results seen last financial year should not be expected to carry forward into 2026-27.
The imbalance between supply and demand has been driving the market for several years and in the past few months we have seen some key changes in the supply and demand equation. Supply has increased, with new listings returning to long-term averages. Demand has softened in the wake of three interest rate rises. The taxation changes announced in the Federal Budget have also impacted demand, and not quite in the way the Federal Government wanted.
REIWA members have reported a reduction in both investor and first home buyer purchasing activity. Banking lending data has also recorded a decline in investor and first home buyer lending.
This may change, but it is important to be aware of market conditions if you are thinking of selling in the near term. As demand and supply varies from suburb to suburb, I recommend speaking to a local REIWA member about conditions in your area.
Capital growth
All unit types saw their median sale price increase over 2025-26.
Home units recorded the most growth, with the median sale price rising 24.2 per cent to $615,000. Villas were the next best performer, with median sale price growth of 23.7 per cent.
Over a five-year period (2020-21 to 2025-26), villas recorded the most growth of any unit type, with the median sale price increasing 103.1 per cent. Home units were the second best performer, with the median sale price rising 75.7 per cent. Long term, apartments recorded the lowest rate of price growth at just 48.0 per cent.
Annual median sale price
| Property type | 2025-26 | 2024-25 | 2020-21 | 1-year change | 5-year change |
|---|---|---|---|---|---|
| Apartment | $740,000 | $600,000 | $500,000 | 23.3% | 48.0% |
| Home unit | $615,000 | $495,000 | $350,000 | 24.2% | 75.7% |
| Townhouse | $890,000 | $750,000 | $545,000 | 18.7% | 63.3% |
| Villa | $711,000 | $575,000 | $350,000 | 23.7% | 103.1% |
| UNITS (ALL) | $675,000 | $550,000 | $409,000 | 22.7% | 65.0% |
Time to sell
When it came to speed of sale, villas were the top performing unit type, with dwellings selling in a median of nine days in 2025-26. All unit types have seen their days on market fall dramatically over five years. We are likely to see selling times increase over 2026-27.
Median time to sell (days)
| Property type | 2025-26 | 2024-25 | 2020-21 | 1-year change | 5-year change |
|---|---|---|---|---|---|
| Apartment | 13 | 14 | 46 | -1 | -33 |
| Home unit | 11 | 10 | 43 | 1 | -32 |
| Townhouse | 11 | 10 | 40 | 1 | -29 |
| Villa | 9 | 8 | 41 | 1 | -32 |
| UNITS (ALL) | 12 | 11 | 44 | 1 | -32 |
Rent price growth
All unit types saw an increase in their median weekly rent price over the financial year. Home units led the way with the median weekly rent rising 9.1 per cent to $600. Apartments and villas were second with both seeing their median weekly rent increase 7.7 per cent to $700.
Since 2020-21, there has been strong rent price growth across all unit types. The median weekly rent for home units has doubled.
Median weekly rent
| Property type | 2025-26 | 2024-25 | 2020-21 | 1-year change | 5-year change |
|---|---|---|---|---|---|
| Apartment | $700 | $650 | $395 | 7.7% | 77.2% |
| Home unit | $600 | $550 | $300 | 9.1% | 100.0% |
| Townhouse | $795 | $750 | $450 | 6.0% | 76.7% |
| Villa | $700 | $650 | $370 | 7.7% | 89.2% |
| UNITS (ALL) | $680 | $650 | $375 | 4.6% | 81.3% |
Time to lease
Rental vacancies were filled quickly for all unit types in 2025-26. Villas leased marginally faster than home units, townhouses and apartments.
Median time to lease (days)
| Property type | 2025-26 | 2024-25 | 2020-21 | 1-year change | 5-year change |
|---|---|---|---|---|---|
| Apartment | 15 | 15 | 22 | 0 | -7 |
| Home unit | 15 | 14 | 20 | 1 | -5 |
| Townhouse | 15 | 15 | 20 | 0 | -5 |
| Villa | 14 | 14 | 18 | 0 | -4 |
| UNITS (ALL) | 15 | 15 | 21 | 0 | -6 |
Rental yield
When it came to rental yield, villas and home units delivered the strongest results for investors in the financial year. Both recorded a yield of 5.1 per cent.
Yields for units as a whole, and all unit types, have declined slightly. This reflects the continued strong rate of median sale price growth, and the softening in the rate of rent price growth.
Apartments saw the most improvement in yields over the past five years.
Rental yield
| Property type | 2025-26 | 2024-25 | 2020-21 | 1-year change | 5-year change |
|---|---|---|---|---|---|
| Apartment | 4.9% | 5.6% | 4.1% | -0.7% | 0.8% |
| Home unit | 5.1% | 5.8% | 4.5% | -0.7% | 0.6% |
| Townhouse | 4.6% | 5.2% | 4.3% | -0.6% | 0.4% |
| Villa | 5.1% | 5.9% | 5.5% | -0.8% | -0.4% |
| UNITS (ALL) | 5.2% | 6.1% | 4.8% | -0.9% | 0.5% |
* REIWA publishes an annual median sale price based on pending and settled sales properties of less than 1 hectare.
** Correct as at 15 July 2026
Definitions:
Apartment: Dwellings with no private grounds in a multi-storey complex and usually share a common entrance, foyer or stairwell. Apartment complex’s generally have lifts and common amenities such as a pool, gym or garden.
Home unit: Single-level dwellings in a multi-residential setting where the complex is no more than two storeys.
Townhouse: Two/three-storey dwellings with their own private grounds. They are in a multi-residential setting and have no other dwelling above or below. They are either attached in some structural way to one or more dwellings or are separated from neighbouring dwellings by less than half a metre.
Villa: Single-level dwellings with their own private grounds. They are in a multi-residential complex and have no other dwellings above or below.
This post appears in Strata News #803.
Suzanne Brown
REIWA
E: media@reiwa.com.au
This article has been republished with permission from the author and first appeared on the REIWA website.
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