Here’s why Perth homeowners are saying yes
If you’ve owned your home for a few years, there’s a good chance you’re sitting on a lot more equity than you realise, especially if you’re in Perth. With property prices climbing steadily, more homeowners are asking the question: “Is now the time to upgrade?”
Let’s take a look at what’s happening in the market and why upgrading could be more achievable than you think.
Perth property: the numbers speak for themselves
The Perth market has been one of Australia’s strongest performers over the last few years.
According to NAB and CoreLogic data:
- The median Perth house value sits around $880,000–$930,000 as of late 2025 — up roughly 6–9% over the past year.
- Unit prices are sitting around $625,000–$650,000, growing by 10–11% annually.
- Over the past five years, Perth house prices have jumped an incredible 83%.
That means if you bought a home in 2019 for around $500,000, it could now be worth close to $900,000 — even before considering renovations or improvements. That growth has created real equity for many Perth homeowners. This has created opportunities that can make upgrading not just possible, but smart.
What equity really means for you
Your home equity is the difference between what your home is worth and what you owe on your loan.
If your property has increased in value while you’ve been paying down your mortgage that gap can open new doors.
For example:
Bought for $500,000 → Now worth $900,000 → Mortgage owing $350,000
That’s $550,000 in equity.
You could use part of that equity as a deposit for your next home, while keeping your repayments manageable — or even hold your existing property as an investment.
Why buying and selling in the same market matters
One of the smartest upgrade strategies is to buy and sell within the same market conditions.
Here’s why:
- If you sell your current home in a rising market, you benefit from high prices.
- But if you wait too long to buy again, the next property could cost even more, potentially wiping out your gain.
- By upgrading now, you’re moving within the same cycle. So while you’re paying more for your new place, you’re also selling high on your current one.
Essentially, you’re trading up in sync, rather than being left behind by the next price wave.
Why now could be the perfect time
- Stable interest rates — The RBA has held steady through 2025, and most economists expect a period of stability ahead.
- Strong Perth fundamentals — Population growth, tight supply, and solid rental demand continue to drive the market.
- High homeowner equity — After years of price growth, many locals are in the strongest position they’ve ever been to upgrade.
- Lifestyle priorities have shifted — Bigger homes, better locations, or home offices are now higher on the wish list than ever before.
Put simply: the window is open, and conditions are balanced enough to plan your next move confidently.
Your upgrade options
- Sell and upgrade: Use your sale proceeds and equity to fund your next purchase.
- Keep your current home as an investment: Convert your existing loan to an investment loan and buy a new principal residence.
- Use bridging finance: If you find your dream home first, a short-term bridging loan can help you buy before you sell.
- Refinance to release equity: Access your available equity and strengthen your position for a future upgrade. Read all about refinancing here.
A few considerations before you move
- Plan your buying and selling timelines carefully to avoid market mismatch.
- Factor in stamp duty, legal fees, and moving costs.
- Review your borrowing power and repayments before committing.
- Talk to your broker about loan structuring — especially if you’re keeping your current home as an investment.
If you’re thinking of selling your current property but you’re worried about securing the next one, you could always look into a bridging loan and purchase before you sell. OR you could look into buying a property off-market – realestate agents are often keen to assist you with an off-market purchase if it means they can secure another listing in the process.
If you’ve been watching Perth prices rise and wondering whether to act, the data says this:
You might already be in the perfect position to upgrade.
The key is not just whether you can buy a bigger home, but how to leverage the equity you’ve already built to make that next move smartly and sustainably.
As an independent Perth mortgage broker, Base Home Loans can help you map out your upgrade strategy – from equity checks and loan reviews to timing your sale and purchase perfectly.
💬 Ready to explore your upgrade options?
Book a free strategy session and find out what your equity can do for you.
Disclaimer: The information provided on this blog is for general informational purposes only and does not constitute financial or professional advice. While we strive to provide accurate and up-to-date information, mortgage laws and regulations can change, and individual circumstances may vary. We recommend consulting with a qualified financial advisor or mortgage broker to assess your specific situation and needs. Base Home Loans is not responsible for any actions taken based on the content of this blog. Always conduct your own research and consider seeking professional advice before making financial decisions.
