Mandurah leads the charge for property price growth

February has been another solid month for property price growth across the Greater Perth Region. Based on the latest data from the Real Estate Institute of WA (REIWA) Perth’s median house price rose 1.0% in February to $757,750. Remarkably, this was 22.2% higher than February 2024.

At the same time, the median unit sale price increased 2.0% last month, and is 21.4% year-on-year to $510,000.

When we drill down further into the detail, Mandurah is the best performing suburb from around 350 suburbs across Greater Perth, which says a lot about the perceived value for money and lifestyle opportunities that can be found in Mandurah and surrounds. In the month of February, Mandurah was up 2.9% to $530,000. Other suburbs to perform well include Doubleview (up 2.5% to $1,190,000), Carlisle (up 2.3% to $775,000), Lesmurdie (up 2% to $908,750) and Bullsbrook (up 2% to $625,000).

REIWA CEO Cath Hart said while property prices continued to grow, there has been a change in buyer behaviour. “Last month we reported buyers were being discerning and taking their time in their purchasing decisions. They are also being very prudent when it comes to prices and making an offer,” she said.

“When markets are changing, even slightly, it’s essential to get the advice of a local REIWA agent when selling. They can tell you what is happening at the coalface, what sort of buyers are active in your area and their purchasing behaviours, and how best to present and price your home for your local market.”