SWAN View has been named by REIWA as being one of the top growing suburbs in May, recording growth of 1.4 per cent or more.

According to REIWA’s most up to date data, the median price for buying a house in Swan View was $670,000 while rent costs $645 per week.

Jane Brook was also named as one of the fastest selling suburbs for houses in May, selling properties in about seven days alongside Joondalup, Alkimos and Golden Bay.

The fastest median leasing time of nine days were occupied by Brabham and Doubleview, with Thornlie trailing at 10 days, Alkimos at 11, and Hamilton Hill, Wembley, Balcatta, Balga, West Leederville and Westminster at 12 days.

Perth’s median house sale price increased to $780,000 while Perth’s median unit sale price rose to $535,000 in May.

Perth’s median house and unit rent prices were unchanged.

REIWA president Suzanne Brown said the conditions underpinning price growth remained.

“Population growth, while declining slightly, is still strong, which fuels demand for housing,” Ms Brown said.

“As expected, we saw new listings increase throughout May, following the holiday-related slump at the end of April.

“Sales activity also increased towards the end of the month, which has seen active listings settle slightly below the April level.

Perth’s median dwelling rent increased 0.7 per cent to $675 per week in May which is 3.8 per cent higher than the same time last year.

The median weekly rent for houses and units remained stable at $680 and $650 respectively but both were higher than a year ago.

“We continue to see periods of stability in the rental market, interspersed with relatively small movements in median prices,” Ms Brown said.

“The median unit rent has been unchanged since December 2024. And the median weekly house rent price has been $680 for four of the past five months.

“This reflects the changed conditions in the rental market, including an increase in supply and increase in the vacancy rate.”