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This blog post explains the current housing prices in Perth in 2026, with simple estimates for houses, apartments, units, townhouses and villas.
We constantly update this blog post because Perth property prices are moving quickly and fresh data matters a lot in 2026.
You will also see what is driving Perth property prices now, what may happen later in 2026, and what the 5-year and 10-year outlook could look like.
And if you’re planning to buy a property in this place, you may want to download our pack covering the real estate market in Perth.
What are the current property price trends in Perth as of 2026?
Perth property prices are still rising strongly in 2026, but the market is no longer cheap, so buyers now need to be more selective than they were a few years ago.
The clearest way to read the Perth property market in 2026 is to separate two things: median sale prices, which show what recently sold, and home value indexes, which estimate what typical homes are worth now.
Across houses, apartments, units, townhouses and villas, Perth remains one of the fastest-growing residential property markets in Australia in 2026 because demand is strong and available supply is still tight.
What is the average house price in Perth as of 2026?
As of 2026, the average mainstream residential property price in Perth is about A$1.03 million to A$1.06 million, which is roughly US$730,000 to US$750,000 or €625,000 to €645,000, while a typical Perth house is closer to A$1.08 million to A$1.10 million, or about US$760,000 to US$775,000 and €655,000 to €670,000.
To make that number easier to compare, the estimated average price per square meter for residential property in Perth in 2026 is about A$5,800 to A$6,400, which is roughly US$4,100 to US$4,500 or €3,500 to €3,900 per square meter.
In practical terms, roughly 80% of normal Perth property purchases in 2026 are likely to fall between about A$550,000 and A$1.6 million, which is around US$390,000 to US$1.13 million or €335,000 to €975,000, depending on location, land size and property type.
How much have property prices increased in Perth over the past 12 months?
Perth residential property prices increased by about 24% to 26% over the past 12 months to June 2026, which makes Perth one of the strongest large housing markets in Australia.
The realistic 12-month growth range across Perth property types is about 20% to 26% for houses, 25% to 30% for apartments and units, and about 22% to 28% for townhouses and villas.
The biggest reason Perth property prices rose so quickly in 2026 is the simple shortage of homes for sale and rent at the same time that population growth and buyer demand stayed strong.
Which neighborhoods have the fastest rising property prices in Perth as of 2026?
As of 2026, the top three fast-rising Perth neighborhoods are likely to be Armadale, Balga and Morley, because these areas still look relatively affordable compared with the Perth metro median.
Armadale is likely up about 30% to 35% year on year, Balga about 25% to 32%, and Morley about 22% to 30%, although small local sales volumes can move suburb numbers around.
The main demand driver in these Perth neighborhoods is affordability, because buyers and investors who can no longer afford inner or coastal homes are moving toward areas with lower entry prices and stronger rental yields.
By the way, you will find much more detailed price ranges across neighborhoods in our property pack covering the real estate market in Perth.
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Which property types are increasing faster in value in Perth as of 2026?
As of 2026, the fastest-appreciating Perth property types are apartments and units first, townhouses and villas second, houses third, and premium villas or luxury houses last.
The top-performing Perth property type in 2026 is the apartment or unit segment, with an approximate annual appreciation rate of about 25% to 30% in many market estimates.
Apartments and units are outperforming in Perth because they are the cheaper entry point for buyers and investors after detached houses moved above the budget of many households.
Finally, if you’re interested in a specific property type, you will find our latest analyses here:
- How much should you pay for a house in Perth?
- How much should you pay for an apartment in Perth?
- How much should you pay for lands in Perth?
- How much should you pay for a townhouse in Perth?
What is driving property prices up or down in Perth as of 2026?
As of 2026, the top three drivers of Perth property prices are strong population growth, very tight housing supply, and high rental demand across the Perth metro area.
The strongest upward pressure on Perth property prices is the lack of available homes, because buyers and renters are competing for a limited number of suitable properties.
If interest rates stay high or more homes come onto the market later in 2026, Perth price growth may slow, but a large fall looks less likely while supply remains tight.
If you want to understand these factors at a deeper level, you can read our latest property market analysis about Perth here.
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What is the property price forecast for Perth in 2026?
The Perth property price forecast for 2026 is still positive, but the market is likely to cool from the extreme pace seen in 2025 and early 2026.
The most likely outcome is not a crash, but a slower rise, especially if buyers face high mortgage repayments and affordability pressure for the rest of 2026.
How much are property prices expected to increase in Perth in 2026?
As of 2026, Perth residential property prices are expected to rise by about 12% to 16% across the full year, with units and apartments likely to grow faster than houses.
The realistic forecast range from different Perth market analysts is roughly 10% to 20% for 2026, with the lower end for houses and the higher end for apartments and units.
The main assumption behind most Perth price forecasts is that housing supply will stay too low to fully meet demand, even if high interest rates reduce borrowing power.
We go deeper and try to understand how solid are these forecasts in our pack covering the property market in Perth.
Which neighborhoods will see the highest price growth in Perth in 2026?
As of 2026, the Perth neighborhoods expected to see the highest price growth include Armadale, Kelmscott, Balga, Girrawheen, Morley, Balcatta, Spearwood, Rockingham, Waikiki, Butler, Alkimos and Eglinton.
These top Perth neighborhoods could still grow by about 15% to 25% in 2026 if listings remain low and buyers continue to search for affordable entry points.
The main catalyst for growth in these Perth neighborhoods is the move from expensive inner and coastal suburbs toward better-value areas with transport links, rental demand and family housing.
One emerging Perth neighborhood that could surprise on the upside is Eglinton, because it sits in the northern growth corridor and benefits from affordability plus long-term population growth.
By the way, we’ve written a blog article detailing what are the current best areas to invest in property in Perth.
What property types will appreciate the most in Perth in 2026?
As of 2026, apartments and units are expected to appreciate the most in Perth, with townhouses and villas close behind and detached houses still rising more slowly.
The projected 2026 appreciation for Perth apartments and units is about 15% to 20%, with some well-located stock near transport, universities, the coast or the CBD doing better.
The main demand trend behind this growth is affordability compression, which means buyers move to smaller or cheaper property types when Perth houses become too expensive.
Premium detached houses in the western suburbs and expensive coastal pockets may underperform in percentage terms because their buyer pool is smaller and rental yields are lower.
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How will interest rates affect property prices in Perth in 2026?
As of 2026, high interest rates should slow Perth property price growth by reducing borrowing power, but they are unlikely to reverse the market while homes remain scarce.
The RBA cash rate is 4.35% in mid-June 2026, and mortgage rates are more likely to stay high in the near term than fall quickly.
A 1% rise in interest rates can reduce what many Perth buyers can borrow by roughly 8% to 12%, which usually cools prices unless demand is stronger than supply.
You can also read our latest update about mortgage and interest rates in Australia.
What are the biggest risks for property prices in Perth in 2026?
As of 2026, the biggest risks for Perth property prices are further interest-rate rises, buyer affordability limits, and a sudden increase in listings that gives buyers more choice.
The highest-probability risk in Perth is buyer fatigue from affordability pressure, because many households can no longer stretch as far as prices have moved.
If this risk becomes stronger, Perth property prices may still rise in 2026, but growth would likely move from broad-based heat to a more selective suburb-by-suburb market.
We actually cover all these risks and their likelihoods in our pack about the real estate market in Perth.
Is it a good time to buy a rental property in Perth in 2026?
As of 2026, it can still be a good time to buy a rental property in Perth, but only if the property has strong rent demand and is not bought at an inflated price.
The strongest argument for buying now is that Perth rental vacancies remain tight, so well-located apartments, units, townhouses and affordable houses can still attract tenants quickly.
The strongest argument for waiting is that Perth prices have already risen sharply, so rushed buyers may accept lower yields and weaker long-term value.
If you want to know our latest analysis (results may differ from what you just read), you can read our assessment on whether now is a good time to buy a property in Perth.
You’ll also find a dedicated document about this specific question in our pack about real estate in Perth.
Get to know the market before buying a property in Perth
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Where will property prices be in 5 years in Perth?
The 5-year Perth property outlook is positive, but buyers should not assume that the next five years will repeat the extreme growth of the last boom period.
In simple terms, Perth property prices may keep rising because housing supply is still hard to build quickly, but the pace should become more normal over time.
What is the 5-year property price forecast for Perth as of 2026?
As of 2026, Perth residential property prices are expected to rise by about 35% to 50% in total over the next 5 years, based on a central 2031 all-dwelling value around A$1.40 million to A$1.55 million.
A conservative 5-year Perth forecast is about 25% growth, a central forecast is about 40%, and an optimistic forecast is about 60% if supply stays very tight.
The projected average annual appreciation rate for Perth property over the next 5 years is about 6% to 8%, which is much slower than the recent boom but still strong.
The key assumption behind most 5-year Perth property forecasts is that population growth and household formation will remain stronger than the delivery of well-located new homes.
Which areas in Perth will have the best price growth over the next 5 years?
The top three Perth areas expected to have the best 5-year price growth are the affordable southern corridor around Armadale and Kelmscott, the northern growth corridor around Alkimos and Eglinton, and middle-ring value suburbs such as Morley and Balcatta.
These top Perth areas could rise about 40% to 65% over 5 years if population growth, rental demand and infrastructure support continue.
This longer forecast is different from the 2026 forecast because 5-year growth depends less on short-term heat and more on infrastructure, household formation and land supply.
The currently undervalued Perth area with strong 5-year outperformance potential is the Armadale and Kelmscott corridor, because prices are still lower than the metro median and connectivity is improving.
What property type will give the best return in Perth over 5 years as of 2026?
As of 2026, established apartments and units in well-connected Perth suburbs are likely to give the best 5-year total return because they combine lower entry prices with strong rental demand.
The projected 5-year total return for good Perth apartments and units is about 45% to 65% including rent, before ownership costs and tax.
The main structural trend favoring this property type is affordability, because more buyers and renters are moving toward smaller homes near transport, jobs, universities and lifestyle areas.
Townhouses and villas in middle-ring Perth suburbs may offer the best balance of return and lower risk because they provide more space than apartments without the full cost of a detached house.
How will new infrastructure projects affect property prices in Perth over 5 years?
The top three infrastructure themes expected to affect Perth property prices over the next 5 years are METRONET-linked rail and station upgrades, northern growth-corridor transport links, and housing-enabling infrastructure funded through the WA Budget.
Properties near completed Perth transport improvements can sometimes achieve a 5% to 15% location premium, but the gain is strongest when the suburb is still affordable before the project is fully priced in.
The Perth neighborhoods most likely to benefit include Bayswater, Morley, Ellenbrook corridor suburbs, Cannington, Armadale, Byford corridor suburbs, Yanchep, Alkimos and Eglinton.
How will population growth and other factors impact property values in Perth in 5 years?
Perth property values should benefit if Western Australia keeps growing near 2% a year, because even moderate population growth creates strong housing demand when new supply is slow.
The demographic shift with the strongest influence on Perth demand is the rise of smaller households and affordability-stretched families looking for units, townhouses and cheaper houses.
Domestic migration and international migration should keep supporting Perth property values over 5 years, especially if WA jobs remain attractive compared with other Australian states.
The property types and areas most likely to benefit are apartments near the CBD and universities, townhouses in middle-ring suburbs, and affordable houses in Armadale, Kelmscott, Balga, Rockingham, Alkimos and Eglinton.
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 is the 10 year property price outlook in Perth?
The 10-year Perth property outlook is still positive, but the result will depend heavily on population growth, housing delivery, mining cycles and borrowing costs.
Over a decade, the question is less about one hot year and more about whether Perth can build enough homes in the right locations.
What is the 10-year property price prediction for Perth as of 2026?
As of 2026, Perth residential property prices are expected to rise by about 70% to 100% over the next 10 years, putting a typical all-dwelling value around A$1.8 million to A$2.1 million by 2036.
A conservative 10-year Perth forecast is about 50% growth, a central forecast is about 85%, and an optimistic forecast is about 120% if supply remains tight for most of the decade.
The projected average annual appreciation rate for Perth property over the next 10 years is about 5.5% to 7%, which is strong but much more realistic than repeating 20%-plus annual growth.
The biggest uncertainty in 10-year Perth property predictions is whether new housing supply can finally catch up with population growth and affordability pressure.
What long-term economic factors will shape property prices in Perth?
The top three long-term economic factors shaping Perth property prices are WA’s resource economy, long-term migration into Greater Perth, and the cost and speed of building new homes.
The most positive long-term factor for Perth property values is the city’s job base, because strong employment supports local incomes, migration and rental demand.
The greatest structural risk is a major slowdown in WA’s resource-linked economy, because weaker confidence and fewer high-income jobs would reduce buyer demand across Perth.
You’ll also find a much more detailed analysis in our pack about real estate in Perth.
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 this source matters | How we used it |
|---|---|---|
| REIWA Perth market data | REIWA is the main real estate industry body for Western Australia. | We used it for Perth median prices, listings, rental data and days on market. We treated it as the strongest local transaction-market source. |
| WA Treasury housing market | WA Treasury gives official state-level housing market summaries. | We used it to cross-check Perth median prices, rentals and approvals. We treated it as a government validation layer. |
| Cotality Home Value Index | Cotality provides widely used hedonic home value indexes. | We used it to understand current value growth, not only sale medians. We used it especially for house-versus-unit comparisons. |
| PropTrack Home Price Index | PropTrack is a major Australian housing price index provider. | We used it to cross-check the direction of Perth price growth. We avoided relying on one private-sector index only. |
| Reserve Bank of Australia cash rate | The RBA is the official source for Australia’s cash rate. | We used it to anchor the interest-rate discussion. We connected mortgage pressure with Perth buyer affordability. |
| ABS building approvals | ABS is Australia’s official statistics agency. | We used it to assess new housing supply. We compared approvals with demand to judge pressure on Perth prices. |
| WA Treasury population data | WA Treasury summarizes official state population trends. | We used it to confirm Western Australia’s strong population growth. We linked migration and household formation to Perth housing demand. |
| Australian Government Population Statement | This federal source gives population projections for Western Australia. | We used it for medium-term demand assumptions. We also used it to support the 5-year and 10-year outlook. |
| WA 2026-27 Budget housing overview | This source shows the state government’s housing investment position. | We used it to understand future supply policy. We considered whether new housing programs could cool prices later. |
| SQM Research vacancy rates | SQM is a recognized Australian rental-market data provider. | We used it to cross-check Perth rental tightness. We connected vacancy pressure with investor demand and rental yields. |
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If you want to go deeper, you can read the following: