Quick summary: Perth property market is no longer moving at the frantic pace experienced earlier in the cycle. More properties are available for sale, homes are taking longer to sell and buyers are being more selective. However, sales activity lifted in the latest week and Perth’s underlying market remains comparatively resilient. For financially prepared buyers, the current conditions may provide a valuable window to assess properties carefully and negotiate before competition potentially strengthens again.
Key takeaways
- Perth recorded 658 property sales in the week ending 26 July 2026, up from 632 in the previous week.
- There are now 6,777 properties listed for sale, more than double the number available in the same week last year.
- Sales volumes remain below last year’s levels, suggesting buyers still have more breathing room.
- Perth’s median house price reached approximately $930,000 over the 2025–26 financial year, following 16.3% annual growth.
- The median time to sell increased to 18 days by the end of June, compared with just over a week during the most competitive part of the cycle.
- The RBA cash rate remains at 4.35%, continuing to place pressure on borrowing capacity and buyer confidence.
- The opportunity is not about rushing to beat another boom. It is about preparing while buyers have more choice and potentially greater negotiating power.
What is happening in Perth’s property market this week?
Perth recorded 658 sales in the week ending 26 July 2026, comprising:
- 462 house sales
- 151 unit sales
- 45 land sales
This was an increase from the 632 transactions recorded in the preceding week and was also slightly higher than the 627 sales recorded four weeks earlier.
However, sales activity remains below the same week in 2025, when Perth recorded 747 transactions. This suggests that activity may be beginning to stabilise after a quieter period, but demand has not yet returned to the intensity seen a year ago. (REIWA)
The latest figures support the idea that some momentum may be returning, but one week of improved sales is not enough to confirm a major market upswing.
The more useful observation is that Perth’s market appears to be moving into a more balanced phase.
Buyers now have more Choice
The most significant change in the Perth market is the increase in available stock.
There were 6,777 properties listed for sale at the end of the week ending 26 July, including:
- 4,729 houses
- 1,459 units
- 589 blocks of land
This compares with:
- 6,114 properties four weeks earlier
- only 3,373 properties in the same week last year
The number of properties available for sale has therefore increased by almost 11% in four weeks and is approximately double the level recorded a year ago. (REIWA)
For buyers, more listings can mean:
- more properties to compare
- less pressure to compromise immediately
- greater opportunity to complete due diligence
- more chance of negotiating on properties that are not attracting strong competition
- a lower risk of making rushed decisions purely because stock is scarce
This does not mean every suburb or property type has suddenly become a buyer’s market. Well-presented and appropriately priced homes can still attract strong interest.
But the balance between buyers and sellers has clearly shifted from the extreme conditions experienced during the tightest periods of Perth’s recent growth cycle.
Has the Perth market been flat?
Perth’s market has not been flat when viewed over the full year.
REIWA reported that the median Perth house sale price increased by 16.3% during the 2025–26 financial year to approximately $930,000. The median unit sale price increased by 21.8% to approximately $670,000.
Cotality separately reported that Perth dwelling values increased by 25.8% over the year to May 2026, significantly outperforming several other capital-city markets.
What has changed is the pace and feel of the market.
During the June quarter:
- more properties came to market
- demand became more cautious
- interest-rate increases affected borrowing power
- cost-of-living pressure weighed on household confidence
- buyers became more selective
- properties took longer to sell
REIWA expects the rate of Perth price growth to slow significantly during the 2026–27 financial year.
It is more accurate to say that Perth has moved from rapid acceleration into a period of moderation not that the market has experienced no growth.
Homes are taking longer to sell
At the height of Perth’s recent competition, some properties were selling in little more than a week.
By the end of the 2025–26 financial year, the median selling time had increased to 18 days for both houses and units.
That remains relatively quick by longer-term standards. REIWA notes that selling timeframes are still well below the average of approximately 50 days recorded in the five years before COVID-19.
However, the change is important.
A longer selling period may provide buyers with:
- additional time to inspect a property
- a better opportunity to review comparable sales
- greater scope to organise building and pest inspections
- more time to clarify loan conditions
- less pressure to make an unconditional offer immediately
- potentially stronger negotiating leverage
The opportunity will vary by suburb, property type and asking price. Some homes may still sell within days, while others may sit on the market because vendor expectations have not adjusted to changing conditions.
Is market momentum beginning to return?
There are tentative signs that sales activity may be finding a floor.
Weekly Perth sales moved as follows during July:
- 719 sales in the week ending 5 July
- 689 sales in the week ending 12 July
- 632 sales in the week ending 19 July
- 658 sales in the week ending 26 July
The latest increase interrupts two consecutive weeks of declining sales and places activity above its level four weeks ago.
That may indicate buyers are beginning to re-engage, but weekly figures can be volatile. Seasonal conditions, settlement reporting and the mix of available properties can all affect short-term numbers.
The broader signal is not necessarily that another surge has begun. It is that Perth continues to record consistent activity despite higher interest rates and greater market caution.
If confidence improves while stock remains relatively constrained by historical standards, competition could strengthen again—particularly for affordable, well-located and high-quality properties.
Interest rates remain the main constraint
The Reserve Bank of Australia’s cash rate is currently 4.35%, effective from 17 June 2026. The next monetary policy decision is due on 11 August 2026.
Higher rates affect buyers in several ways:
- borrowing capacity may be lower
- assessed repayments are higher
- lender serviceability buffers reduce maximum loan amounts
- households may be more cautious about taking on debt
- existing borrowers may have less discretionary income
- some investors may find proposed purchases no longer produce acceptable cash flow
This is one reason buyer demand has softened despite Perth’s underlying housing shortage and population growth.
It also means buyers should not assume that a rising property value automatically makes a purchase affordable.
Why the current market may offer opportunities
A market with more stock, longer selling times and slightly softer demand can provide a valuable preparation window.
This opportunity is not based on trying to identify the bottom of the market.
No one can reliably know:
- whether prices will rise next month
- whether interest rates will change
- whether more properties will come to market in spring
- whether buyer confidence will strengthen
- which individual property will attract heavy competition
The advantage lies in having more space to make a considered decision.
A prepared buyer may be able to:
- compare more properties
- identify unrealistic vendor expectations
- negotiate on homes that have been listed for longer
- avoid stretching beyond a comfortable budget
- include appropriate conditions in an offer
- act quickly when a genuinely suitable property becomes available
By contrast, waiting until headlines confirm that momentum has returned may mean re-entering the market after competition has already strengthened.
Not every part of Perth is behaving the same way
Perth should not be treated as one uniform property market.
Conditions can vary according to:
- suburb
- price range
- house or unit
- land component
- school catchment
- proximity to employment and transport
- property condition
- development potential
- investor or owner-occupier appeal
- level of competing stock
The latest weekly data showed strong sales activity in suburbs including Yokine, Scarborough, Subiaco, Byford, Baldivis, Gosnells and South Perth.
A well-priced family home in a tightly held suburb may still attract substantial competition, even when the wider market appears calmer.
Meanwhile, an overpriced property, unusual dwelling or home requiring extensive work may give buyers considerably more negotiating room.
This is why broad market commentary should never replace analysis of the specific property being considered.
Should buyers wait for prices to fall further?
Waiting can be appropriate when a buyer is not financially ready, lacks an adequate deposit or would be uncomfortable with the repayments.
However, waiting solely because of a prediction that prices will fall can create its own risks.
While a buyer waits:
- their borrowing capacity may change
- interest rates may rise
- lending policies may tighten
- suitable stock may disappear
- competition may return
- rent and holding costs may continue
- their personal circumstances may change
Falling property prices also do not automatically improve affordability. A lower purchase price can be offset by higher interest rates or reduced borrowing capacity.
The more useful question is not:
Is this the perfect week to buy?
It is:
Am I financially and strategically ready to buy when the right opportunity appears?
What should buyers do now?
1. Update your borrowing capacity
An approval estimate from six or twelve months ago may no longer be reliable.
Changes to interest rates, income, expenses, debts and lender policy can all affect the amount available.
2. Establish a comfortable repayment limit
Do not base the purchasing budget solely on the maximum amount a lender may approve.
Consider how repayments would feel alongside:
- rates
- insurance
- maintenance
- strata fees
- childcare
- school costs
- lifestyle spending
- emergency savings
- possible future rate changes
3. Understand the complete cost of purchasing
Your available cash may need to cover:
- deposit
- transfer duty
- settlement costs
- building and pest inspections
- lender fees
- conveyancing
- moving costs
- repairs or renovations
- an emergency buffer
4. Review the strength of your pre-approval
Understand:
- whether it has expired
- what conditions remain
- whether the lender has fully assessed your income
- whether the property still needs to meet lender requirements
- whether your circumstances have changed
- how long formal approval may take
A pre-approval is not an unconditional guarantee of finance.
5. Prepare an offer strategy
A competitive offer is not always the highest offer.
Depending on the situation, strength may also come from:
- a realistic finance timeframe
- a clear deposit
- finance preparation
- flexibility around settlement
- fewer unnecessary conditions
- clear communication
- understanding the seller’s priorities
Conditions should never be removed without understanding the financial and legal risks.
6. Assess each property on its own merits
Review:
- comparable sales
- time on market
- property condition
- likely maintenance
- future resale appeal
- suburb supply
- planning considerations
- insurance availability
- rental demand, where relevant
- the amount you would be comfortable paying
Do not allow fear of missing out to replace due diligence.
What does this mean for first home buyers?
The increase in listings may give first home buyers more opportunity to inspect and compare properties than they had during the tightest periods of the market.
However, affordability remains challenging.
REIWA’s latest annual data places the Perth median house price at around $930,000 and the median unit price at approximately $670,000.
Many first home buyers may therefore need to consider:
- units or villas
- smaller homes
- alternative suburbs
- lower-maintenance properties
- buying with a smaller deposit
- eligible government support
- adjusting the desired property type
- separating the first purchase from the long-term “dream home”
The right strategy depends on the buyer’s income, deposit, timeframe and willingness to compromise, not simply the city-wide median price.
What does this mean for investors?
Investors need to assess more than projected capital growth.
Current interest rates mean a proposed investment should be tested against:
- realistic rental income
- vacancy allowance
- property-management fees
- strata costs
- insurance
- maintenance
- land tax
- loan repayments
- potential rate changes
- available cash reserves
- effect on future borrowing capacity
Perth’s recent price growth does not guarantee that every property represents a good investment.
The purchase price, rental return, property quality, location, financing structure and wider portfolio strategy all matter.
What does this mean for homeowners considering an upgrade?
A calmer market may provide more opportunity to buy the next home, but homeowners also need to consider the conditions affecting the property they intend to sell.
Key questions include:
- Should you sell before buying?
- Could bridging finance be suitable?
- How much equity is genuinely available?
- What if the current home sells below expectations?
- Can you manage both loans temporarily?
- Is a longer settlement possible?
- What cash buffer would remain after the move?
- Would your borrowing capacity change after selling?
The right sequence can be just as important as the lender selected.
Preparation matters more than prediction
The latest Perth data presents a more nuanced picture than either “the market is booming” or “the market has stopped.”
Sales activity improved in the week ending 26 July, but remains below the same period last year.
Available stock has increased substantially, providing buyers with far more choice.
Properties are taking longer to sell, but Perth’s selling times remain relatively short compared with longer-term averages.
Prices recorded strong growth over the previous financial year, although the pace of growth is expected to slow.
Together, these conditions may represent a useful opportunity for buyers who are ready to act—but not a reason to rush.
The goal is not to beat the market.
It is to understand:
- what you can comfortably afford
- what lenders may approve
- how the loan should be structured
- what risks need to be allowed for
- what the property is genuinely worth to you
- when you are prepared to walk away
Before you make your next offer
Base Home Loans helps buyers understand their borrowing capacity, loan options and purchasing strategy before they commit to a property.
Daniel can help you assess:
- your borrowing position
- comfortable repayment levels
- deposit and purchasing costs
- lender selection
- pre-approval
- loan structure
- offer and finance timeframes
- buying before selling
- investment-property finance
- more complex income or lending circumstances
Base Home Loans is based in Perth and also assists eligible clients across Australia through online appointments.
Planning to buy? Book a home loan strategy call before making your next offer.
This article contains general information only and does not constitute personal financial, legal, tax or property advice. Property values and market conditions can change, and lending criteria vary between lenders. Past property-price growth is not a guarantee of future performance. Consider obtaining independent advice relevant to your circumstances.
