Perth Commercial Property Market Update
Insights, Trends, and Opportunities in Perth’s Commercial Real Estate Market
Contact UsPerth Market Snapshot – September 2025
Perth continues to stand out nationally for its tight industrial market and improving office sentiment. Add to that the resilience of everyday retail and the steady demand in specialty sectors like medical consulting, childcare and fuel/fast food, and we’re seeing strong activity across multiple fronts in the commercial property market.
Industrial Market
Median Sale Price
$2,733
per sqm (as of June 2025)
Price Growth
15.1%
year to June 2025
Total Sales
1,087
year to June 2025
Industrial property has been a standout performer in Perth for a number of years. Vacancy in core industrial precincts is ultra-low, and demand is strong from buyers and tenants alike, with tenants locking in long leases.
JLL’s July 2025 report places Perth’s metropolitan industrial vacancy at 2.65%, with some northern precincts recording rates below 1%
A combination of limited development-ready land and the strong take-up in previous years means buyers and tenants are competing for fewer available properties. With fewer buying opportunities in industrial, many investors are turning their attention to other commercial sectors such as retail.
Office Market
CBD Vacancy Rate
17%
as of June 2025
Median Sale Price
$4,675
per sqm (as of June 2025)
Total Sales
492
year to June 2025
Office markets in Perth are showing mixed signals. Perth CBD vacancy rose from 15.1% in January to 17% in June 2025, according to the Property Council of Australia — now the second-highest of all capitals after Melbourne (17.9%). This lift reflects both a glut of older stock and the delivery of new CBD space.
Retail Market
Median Sale Price
$5,213
per sqm (as of June 2025)
Price Growth
18.5%
year to June 2025
Total Sales
215
year to June 2025
Perth’s retail market has performed well over the past 12 months, underpinned by WA’s strong population growth, renewed investor confidence and interest in income-producing properties, including strong interest from Eastern States buyers.
Recent Sales
Case Study: North Perth Retail Sale
We recently marketed a North Perth retail property with three separate tenants for sale, which saw incredibly strong interest from both local and interstate buyers.
Land
365m²
Building
281m²
Tenancies
3
Annual Rent
$94,299
Yield
5.21%
How We Can Help
Sale Appraisals
Our commercial property appraisals provide an accurate assessment of your property’s market position based on comprehensive market analysis, recent comparable sales, and our deep understanding of Perth’s commercial landscape.
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Commercial Property Management
Our comprehensive property management services are designed to maximise your investment returns while minimising your involvement in day-to-day operations.
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“Perth remains one of the more resilient commercial property markets in the country. Low industrial vacancy and improving sentiment in office and retail give owners and investors reason for optimism as we head into the second half of 2025.”
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