Perth CBD Property Market Posts Strongest Quarterly Price Growth Since 2022

Apartment prices in the heart of Perth CBD have climbed by 4.1% in the June quarter, marking the strongest quarterly growth since late 2022 and pushing the median price for city units to $646,000, according to CoreLogic data released this week.

The latest uptick comes as inner-city demand continues to rebound, driven by returning office workers, ongoing waterfront development and new retail amenity. For buyers who hesitated last year, the escalating market has heightened urgency as affordability constraints ripple through surrounding suburbs.

Elizabeth Quay and King Street Lead the Charge

Growth has been most pronounced in precincts close to new infrastructure and lifestyle offerings. Developers and agents cite consistently high interest in apartments along Mounts Bay Road, where several towers are nearing completion, and at the western end of Murray Street near King Street’s boutique retail strip. Leasing activity has also increased around the RAC Arena, especially as major events return, according to city leasing agents.

Local stakeholders point to the impact of recent council initiatives, including the City of Perth’s late-2025 activation grants for small businesses along Hay Street, which have helped attract new cafes and retailers in formerly quiet blocks. Real estate analysts say the next wave of residential offerings at Elizabeth Quay is already registering strong off-the-plan enquiry, building on the momentum of projects like The Towers and the recently completed Ritz-Carlton precinct.

Clear Evidence of Upward Momentum

According to the CoreLogic Quarterly Property Market Review for July 2026, the CBD’s 4.1% rise compares with just a 0.7% increase during the same quarter in 2025. Total sales transactions in the postcode 6000 area grew by more than 12% year-on-year. This reversal follows a period of relative stagnation in early 2025, when rental yields hovered at just under 4%. The strongest price growth has been concentrated in two-bedroom, two-bathroom apartment stock, with average days on market down to 39 from last year’s 58 days, based on figures from local agency Realmark Central.

These improvements have been aided by the completion of precinct upgrades stretching from Yagan Square through to Elizabeth Quay, further strengthening appeal for young professionals and investors. Short-term letting has also picked up, with more city apartments listed on platforms such as Airbnb than in 2025.

What to Watch as Spring Approaches

Agents report that buyer activity is expected to build further into spring, with interest now filtering beyond the luxury end to mid-tier city apartments. Developments along Wellington Street and Perth City Link are set to introduce fresh supply before the year’s end, offering opportunities for both first-home buyers and investors seeking high rental demand.

Buyers weighing up a CBD purchase should watch upcoming council announcements on parking concessions and public amenity projects, with several key decisions anticipated at the next City of Perth budget meeting in September. With prices trending upward and new projects on the horizon, inner-city living appears set for a busy second half of 2026.

This article is general information only and is not personal financial or investment advice. Consider your own circumstances and seek licensed professional advice before making financial decisions.