SWAN, Kalamunda and Mundaring dwellings have recorded high value growth over a 12-month period, according to Cotality’s August 2025 data.

Mundaring (second with an annual change of 8.6 per cent), Swan (seventh with an annual change of 7.6 per cent) and Kalamunda (10th with an annual change of 7.3 per cent) all feature in the greater Perth statistical areas level 3 (SA3s) Top 10 for dwellings.

Cotality Australia’s research director Tim Lawless said Cotality’s national home value index (HVI) rose 0.7 per cent in August, the strongest month-on-month gain since May last year.

The result pushed the annual change higher for the second month in a row, to 4.1 per cent.

Mr Lawless said the annual trend in estimated home sales was up 2 percent on last year and tracking almost 4 per cent above the previous five-year average.

“At the same time, advertised supply levels remain about 20 per cent below average for this time of the year,’’ he said.

“I would be surprised if we saw the monthly rate of change in the national HVI getting anywhere near…earlier cyclical peaks, given how stretched housing affordability has become.

“What is more likely is that home values will rise at a more sustainable pace, with demand dampened by affordability constraints, more normal rates of population growth and cautious lending policy.’’

The key findings of Cotality’s September report show Perth home values rose 1.1 per cent in August – the second highest gain after Brisbane (1.2 per cent), momentum has been building across the Perth housing market since the first rate cut in February, with the rolling quarterly change in values, at 3.1 per cent the highest since October last year.

Other key findings include values are up 6.6 per cent over the past 12 months, adding about $52,400 to the median dwelling value, a primary factor keeping upwards pressure on Perth values is consistently low advertised supply levels and over the four weeks ending August 24, listings were tracking 8.5 per cent lower than at the same time last year and 41 per cent below the five-year average for this time of the year.

According to the Australian Bureau of Statistics (ABS) statistical areas level 3 (SA3s) in many cases are defined by existing administrative boundaries, such as state regional development areas or one or more local government areas.