Is right now a good time to buy a property in Perth? (2026)

Authored by the expert who managed and guided the team behind the Australia Property Pack

Get all the data you need about the real estate market in Perth

Who is the author of this content?

BAMBOOROUTES

A team specialized in real estate investing in APAC countries (Japan, Thailand, Indonesia, Australia, etc.).

We are a team of financial experts, legal professionals, developers, and local real estate specialists dedicated to helping people like you avoid mistakes when investing in real estate in a foreign place, particularly in Perth. If you’d like to learn more about us, you can check our presentation page.

Is it smart to buy now in Perth, or should I wait as of 2026?

Do real estate prices look too high in Perth as of 2026?

As of 2026, Perth property prices look about 10% to 15% above a comfortable fair-value level, because the Perth median house price has moved close to $920,000 while the wider dwelling-value index is now around $1.05 million after very fast growth.

The clearest on-the-ground signal is that REIWA’s early June 2026 data showed for-sale stock up strongly from last year, which means some Perth sellers are finally meeting buyers who are more careful on price.

At the same time, Perth homes are not sitting for months in most normal suburbs, so the right reading is not “bubble about to burst”, but “hot market where buyers must negotiate harder”.

You can also read our latest update regarding the housing prices in Perth.

Does a property price drop look likely in Perth as of 2026?

As of 2026, the risk of a meaningful Perth property price drop over the next 12 months looks low to medium, because rental demand and population growth still support the market.

A realistic 12-month range for Perth property prices is around 5% down in a weak case to 10% up in a strong case, with flat to moderate growth being the most sensible base case.

The single factor most likely to raise the risk of a Perth price drop is mortgage stress, because new housing loan rates are near 6% and many buyers now have less borrowing power.

This rate-pressure risk is real in June 2026, but it looks more likely to slow Perth price growth than to cause a broad crash unless Western Australia also sees a clear jobs downturn.

Finally, please note that we cover the price trends for next year in our pack about the property market in Perth.

Could property prices jump again in Perth as of 2026?

As of 2026, the chance of another Perth property price jump is medium, because Perth is already expensive but still has a shortage of rental-ready and buyer-ready homes.

The plausible upside range for Perth property prices over the next 12 months is about 6% to 12%, with units, townhouses, villas and cheaper houses having the better chance of outperforming.

The biggest demand-side trigger would be another wave of investor demand, because Perth units can still offer better gross rental yields than many eastern-capital alternatives.

Please also note that we regularly publish and update real estate price forecasts for Perth here.

Are we in a buyer or a seller market in Perth as of 2026?

As of 2026, Perth is still a seller-leaning market, but it is less aggressive than in 2025 because buyers have more listings to choose from.

Perth had about 5,600 properties for sale in early June 2026 and roughly 600-plus weekly sales, which points to a tight market rather than a comfortable buyer market.

We do not have a perfect public price-reduction share for all Perth listings, but the rise in stock and slower selling conditions suggest more vendors are having to meet the market instead of naming any price they want.

We have made this infographic to give you a quick and clear snapshot of the property market in Australia. It highlights key facts like rental prices, yields, and property costs both in city centers and outside, so you can easily compare opportunities. We’ve done some research and also included useful insights about the country’s economy, like GDP, population, and interest rates, to help you understand the bigger picture.

Are homes overpriced, or fairly priced in Perth as of 2026?

Are homes overpriced versus rents or versus incomes in Perth as of 2026?

As of 2026, Perth homes look mildly overpriced versus rents but more stretched versus local incomes, especially detached houses in established inner, school-zone and coastal suburbs.

The estimated Perth price-to-rent ratio is roughly 28 for houses and about 21 for units, which means units look much closer to a reasonable rental-value range than houses.

The estimated Perth house price-to-income multiple is around 7 to 8 times a typical household income, which is higher than a comfortable affordability range and explains why many buyers are moving toward units, villas and outer suburbs.

Finally please note that you will have all the indicators you need in our property pack covering the real estate market in Perth.

Are home prices above the long-term average in Perth as of 2026?

As of 2026, Perth home prices are roughly 12% to 18% above a simple long-term trend line, because the 2024 to 2026 boom has moved faster than normal income and rent growth.

The recent 12-month price change is the clearest warning sign, because Cotality’s June 2026 index showed Perth dwelling values up about 25.8% in a year, which is far above a normal long-run pace.

In inflation-adjusted terms, Perth property in 2026 also looks much stronger than the quiet post-mining-boom years, so buyers should not assume the market is still in catch-up mode everywhere.

What local changes could move prices in Perth as of 2026?

Are big infrastructure projects coming to Perth as of 2026?

As of 2026, METRONET is still the biggest infrastructure force for Perth property, and the strongest price impact is likely near rail-connected growth and infill corridors such as Ellenbrook, Morley, Bayswater, Byford, Yanchep, Alkimos, Cannington, Thornlie and Cockburn Central.

The key timeline is mixed, because some METRONET projects have opened or are close to delivery while station precinct planning and surrounding housing uplift will continue over the late 2020s.

For the latest updates on the local projects, you can read our property market analysis about Perth here.

Are zoning or building rules changing in Perth as of 2026?

The most important planning issue in Perth in 2026 is the WA Residential Design Codes, because R-Code settings shape villas, townhouses, grouped dwellings, smaller apartments and infill housing.

As of 2026, the likely net effect of Perth zoning and building-rule changes is modest for prices this year, but meaningful over time because better medium-density rules can slowly add supply in the right suburbs.

The areas most affected are established and transit-linked suburbs such as Bayswater, Maylands, Morley, Belmont, Rivervale, Victoria Park, Cannington, Joondalup, Midland, Cockburn Central and parts of the inner south and inner east.

Are foreign-buyer or mortgage rules changing in Perth as of 2026?

As of 2026, mortgage conditions matter more than foreign-buyer rules for Perth prices, because most mainstream Perth demand comes from local buyers, interstate buyers, investors and new residents who need finance.

The most likely foreign-buyer impact is tighter cost and enforcement pressure rather than a new Perth-specific rule, so the likely price effect on mainstream homes is small.

The most likely mortgage-rule risk is not a new loan-to-value cap, but tighter affordability from high interest rates and serviceability tests that reduce what buyers can borrow.

You can also read our latest update about mortgage and interest rates in Australia.

Will it be easy to find tenants in Perth as of 2026?

Is the renter pool growing faster than new supply in Perth as of 2026?

As of 2026, Perth renter demand is still growing faster than completed rental supply, which is why well-priced homes near jobs, rail, universities and hospitals should usually find tenants quickly.

The best demand signal is population growth, because ABS data showed Perth had the fastest capital-city growth rate in 2024 to 2025 at about 2.4%, which adds pressure to both rental and buyer demand.

The supply side is improving but not enough, because approvals and construction activity are rising from weak levels while completed rental-ready dwellings still lag household formation.

Are days-on-market for rentals falling in Perth as of 2026?

As of 2026, Perth rental days-on-market are no longer falling sharply everywhere, but good rentals still often lease in about 10 to 20 days when priced correctly.

The difference between strong and weaker areas is clear, because homes in East Perth, South Perth, Victoria Park, Maylands, Scarborough, Joondalup and Cockburn Central can lease faster than overpriced or poorly located homes in outer areas.

The main reason rental time stays low in Perth is simple: population is rising, many buyers are priced out, and new rental-ready supply has not caught up.

Are vacancies dropping in the best areas of Perth as of 2026?

As of 2026, vacancies in the best Perth rental areas are still very low rather than clearly dropping further, with East Perth, South Perth, Victoria Park, Maylands, Rivervale, Belmont, Joondalup, Cockburn Central, Scarborough, Fremantle, Cannington and Baldivis staying tight.

The overall Perth vacancy rate was 1.9% in April 2026, while the strongest rental submarkets are likely closer to about 0.5% to 1.5% when the property is well located and fairly priced.

A practical sign for landlords is that good two-bedroom units and practical family homes near rail or major job nodes still attract serious enquiries even when total rental listings tick up.

By the way, we’ve written a blog article detailing what are the current rent levels in Perth.

Am I buying into a tightening market in Perth as of 2026?

Is for-sale inventory shrinking in Perth as of 2026?

As of 2026, Perth for-sale inventory is not shrinking, because REIWA reported early June 2026 stock was about 34.5% higher than a year earlier.

The closest simple supply proxy still points to a tight market, because around 5,600 homes for sale against active weekly sales is not enough stock to make Perth feel balanced for buyers.

Are homes selling faster in Perth as of 2026?

As of 2026, Perth homes are still selling faster than a normal balanced market, but they are not speeding up compared with the hottest part of the boom.

We estimate Perth selling time is now roughly 2 to 4 weeks for well-priced mainstream homes, which is longer than the most frantic 2025 conditions but still quick enough to show strong buyer depth.

Are new listings slowing down in Perth as of 2026?

As of 2026, new listings in Perth do not appear to be slowing, and the better estimate is that listing flow is roughly 20% to 35% higher than a year earlier in many parts of the market.

Perth normally sees seasonal listing movement, but the June 2026 level is not unusually low, because more sellers are taking profits after the large 2024 to 2026 capital gains.

Is new construction failing to keep up in Perth as of 2026?

As of 2026, Perth new construction is still failing to keep up with household demand, and we estimate the city is short by roughly 5,000 to 10,000 dwellings a year versus a fast return to comfort.

Approvals have improved in Western Australia, but completions matter more than approvals, and Perth still has a slow construction pipeline compared with population growth and rental demand.

The biggest bottleneck is construction capacity, because labour, build costs, infrastructure work and the resources economy compete for people and materials.

Will it be easy to sell later in Perth as of 2026?

Is resale liquidity strong enough in Perth as of 2026?

As of 2026, Perth resale liquidity is strong for mainstream homes bought at realistic prices, especially affordable houses, practical family homes, well-located units, townhouses and villas.

The estimated median selling time is around 2 to 4 weeks for well-priced Perth homes, which is better than a healthy liquidity benchmark of about 45 to 60 days.

The property characteristic that most improves resale liquidity in Perth is practical demand depth, which usually means close access to schools, rail, jobs, shops or the coast without high strata costs or awkward layouts.

Is selling time getting longer in Perth as of 2026?

As of 2026, selling time in Perth is getting longer compared with the hottest 2025 period, but it is still short by normal market standards.

The realistic current range is about 10 to 30 days for strong listings and 35 to 60 days for overpriced or weaker listings, depending on suburb, condition, land component and price point.

The main reason selling time can lengthen in Perth is that higher mortgage rates and higher prices make buyers more selective, especially when more listings are available than last year.

Is it realistic to exit with profit in Perth as of 2026?

As of 2026, the chance of selling a Perth property with a profit over a typical holding period is medium to high if the buyer avoids overpaying and holds for long enough.

The minimum realistic holding period is usually about five years, because stamp duty, agent fees, maintenance, loan interest and tax can easily erase short-term gains.

For a typical Perth home around $900,000, the total round-trip cost drag can easily sit around A$70,000 to A$100,000, which is roughly US$46,000 to US$66,000 or €43,000 to €61,000 using simple mid-2026 exchange-rate estimates.

The clearest factor that improves profit odds is buying a mainstream property below emotional market pricing in a deep-demand suburb such as Maylands, Victoria Park, Rivervale, Belmont, Joondalup, Cockburn Central, Baldivis, Rockingham, Morley, Cannington, East Perth or South Perth.

We made this infographic to show you how property prices in Australia compare to other big cities across the region. It breaks down the average price per square meter in city centers, so you can see how cities stack up. It’s an easy way to spot where you might get the best value for your money. We hope you like it.

What sources have we used to write this blog article?

Whether it’s in our blog articles or the market analyses included in our property pack about Perth, we always rely on the strongest methodology we can, and we don’t throw out numbers at random.

We also aim to be fully transparent, so below we’ve listed the authoritative sources we used, and explained how we used them and the methods behind our estimates.

Source	Why we trust it	How we used it
REIWA Perth Market Data	REIWA is the main local real estate institute for Western Australia.	We used it for Perth median prices, rents, sales activity and market speed. We treated it as the main local market source.
REIWA Weekly Market Snapshot	It gives very current Perth sales, listing and rental stock data.	We used it to check whether Perth inventory is rising or falling. We also used it to interpret bargaining power in June 2026.
REIWA Rental Vacancy Rates	It is a recognised local vacancy series for Perth rentals.	We used it to assess tenant demand and vacancy risk. We compared the 1.9% vacancy rate with a more balanced rental market level.
WA Government Housing Market	It is the Western Australian Government’s own housing dashboard.	We used it to cross-check prices, rental availability and building approvals. We treated it as a government validation source.
ABS Building Approvals	ABS is Australia’s official source for dwelling approvals.	We used it to judge future housing supply in Western Australia. We did not treat approvals as completed homes.
ABS Building Activity	ABS tracks commencements, completions and construction pipeline data.	We used it to separate approved supply from actual delivered supply. We gave completions more weight than approvals.
ABS Regional Population	ABS is the official source for capital-city population growth.	We used it to measure Perth demand pressure from population growth. We compared population growth with new housing supply.
Centre for Population	It interprets official demographic trends for the Australian Government.	We used it to cross-check Perth’s population growth story. We also used it to judge whether demand is temporary or structural.
RBA Lenders’ Interest Rates	The RBA is the official source for Australian lending-rate data.	We used it to assess mortgage affordability and investor borrowing costs. We compared those costs with Perth rental yields.
RBA Cash Rate Target	The RBA cash rate drives mortgage pricing and buyer confidence.	We used it to frame rate risk in June 2026. We treated higher rates as the main downside risk to Perth prices.
Cotality Home Value Index via Perth Market Update	Cotality is a major Australian property value-index provider.	We used it for annual growth, median values and yield estimates. We used it to supplement REIWA transaction medians with index data.
Domain Rental Report	Domain is a major Australian property portal with rental research.	We used it to cross-check rental tightness and rent momentum. We did not use it as the only rental source.
SQM Research Vacancy Rates	SQM is an independent provider with a long-running vacancy series.	We used it as a second check on Perth vacancy conditions. We used it to avoid relying only on one vacancy methodology.
SQM Research Total Listings	SQM listing data helps track stock-on-market direction.	We used it to cross-check whether for-sale inventory is rising. We treated listing stock as a market-liquidity signal.
WA Residential Design Codes	It is the official WA planning framework for residential density.	We used it to assess townhouse, villa and infill supply rules. We focused on mainstream residential property, not commercial projects.
METRONET Projects	METRONET is the official source for major Perth rail projects.	We used it to identify infrastructure corridors that can shift demand. We looked at Morley-Ellenbrook, Yanchep, Byford and Thornlie-Cockburn corridors.