Q4 2024
The median house price in North Fremantle is currently around $1.66 million as of December 2024, showing a slight annual decrease of 2.72%. Despite this, properties are selling quickly, averaging just 12 days on the market, indicating sustained buyer interest.
North Fremantle's rental market remains competitive, with a median weekly rent of $900 and a 2.88% return, driven by high demand and low vacancy rates in Perth.
Factors such as Perth's housing listings dropping below 5,000 by late 2023 and Western Australia's 2.8% population growth, the highest in the nation, have intensified demand in desirable suburbs like North Fremantle. Despite price increases, Perth remains relatively affordable compared to other capitals, with families allocating 35% of their income to mortgages, attracting both local and interstate buyers.
Analysts predict Perth's property market to grow by 8–10% in 2025, with North Fremantle likely experiencing stabilisation or modest value appreciation based on supply, economic conditions, and buyer sentiment. Strong demand and limited supply continue to drive swift sales and a competitive rental market, underscoring the importance for buyers and investors to stay informed and strategic.
The message from the team here at Mint for those contemplating selling or leasing, is that the current conditions present fantastic opportunities to capitalise on your property asset. We have been busy with appraisals and we anticipate 2025 being another busy year here in the West.
Publish Date: 01/01/2025
The details noted above including any figures or statistics given are based on information provided by multiple sources including the Western Australian Land Information Authority, Corelogic, REIWA, domain.com.au and realestate.com.au. The statistics noted include results performed by multiple agents and agencies. Whilst all reasonable effort has been made to ensure the enclosed information is correct at the time of publication, Mint Real Estate does not warrant or guarantee the accuracy or completeness of the data.
