Perth Property Market: What the Latest Figures Mean If You Are Buying

If you are buying in Perth, the headlines can feel mixed. Prices are well up on last year, but they are also coming off a peak. Here is what the latest figures say, and what they might mean for you.

What the latest figures say

REIWA, June quarter 2026

• Perth median house price: $980,000. That is down 2.0% on the March quarter and up 18.7% on a year ago.
• Other dwellings (units, townhouses and the like): $700,000. Down 2.8% on the quarter and up 21.4% on the year.
• Rents: the median three-bedroom house rented for $720 a week, up 9.1% on the year. Rental vacancy was 2.1%.

Cotality Home Value Index, September 2026

• Perth median dwelling value: $975,022. Houses were $1,017,734 and units $714,265.
• Movement: down 1.2% over the month and 4.7% over the quarter, but up 10.1% over the year. That is 6.0% below the April peak.
• Sales: Perth sales volumes over the year were down 24.2%.
• Regional WA: median value $715,643, up 14.1% over the year and down 1.0% over the quarter.

The two sources will not match exactly. REIWA reports the median price of homes that actually sold in a quarter. Cotality’s index tracks how values are changing over time. They measure different things.

What this might mean if you are buying

Prices have eased, but they are still well up on last year

The recent fall does not wipe out the big rise over the past year. If you have been waiting for prices to drop back to where they were, that may not happen. If you were worried you had missed out, there is less of a rush than there was in the first half of the year.

Rates affect what you can borrow

The RBA raised the cash rate to 4.60% on 29 September, the fourth rise this year. Higher rates usually mean you can borrow less than you could a few months ago. Your own number depends on your income, your debts and the lender. If your last borrowing power check was done earlier in the year, it is worth doing again.

Fewer sales can mean less competition

With fewer homes selling, you may find less competition at some open homes. Well-priced homes in sought-after areas can still move quickly, so it helps to have your finance ready before you start looking.

Try not to time the market

Nobody can reliably pick the bottom. A better question is whether you could comfortably keep up the repayments if rates went up another 1% or 2%. You can test that with our repayment calculator.

Questions to ask yourself

1. What repayment can I carry comfortably, with a buffer if rates rise again?
2. How much do I have for a deposit and the costs of buying? Stamp duty, legal fees and moving all add up.
3. When was my borrowing power last checked? Rates have moved since then.
4. Am I buying a home to live in for years, or trying to guess where prices go next?

If you are a first home buyer, our first home buyer page has the current WA grants and stamp duty details.

Sources and when we checked

Checked on 21 October 2026. Sources: REIWA, June 2026 quarter market report (published 22 September 2026); Cotality, Home Value Index, September 2026 results (released 1 October 2026); Reserve Bank of Australia, cash rate decision of 29 September 2026. Figures are medians or index values as published and may be rounded. Past results do not predict future prices. Rules, prices and rates can change, so confirm with the official sources and your lender before you buy. This article is general information only and is not personal advice.