If you have searched for Perth property market predictions recently, you have probably found a mix of headlines: booming price growth on one page, talk of a slowdown on the next. Rather than guess where the market is headed, this Perth property market update for 2026 looks at what the data actually shows at mid-year, sourced directly from REIWA, Cotality (formerly CoreLogic) and the Reserve Bank of Australia (RBA), and what it means if you are planning to buy or borrow in Perth right now.
In short: Perth’s median house price reached approximately $938,000 in the June 2026 quarter, up 4.2% for the quarter (REIWA, 2026). Cotality data shows Perth dwelling values up 20.5% over the year to July, the strongest annual result of any capital city, though monthly growth has flattened to near zero (Cotality, 2026). Listings were 129.1% higher in late August 2026 than a year earlier (REIWA, 2026), giving buyers more choice. The RBA held the cash rate at 4.35% at its 11 August 2026 meeting, with its next decision due in late September (RBA, 2026). Together, this points to a market still expensive by historical standards but no longer accelerating, while borrowing capacity stays squeezed by an elevated cash rate.
This article is written for Perth buyers and borrowers working out what today’s conditions mean for their own numbers. If you are weighing up an investment property purchase instead, our guide to what Perth investors should watch in 2026 covers the market from that angle.
Perth Property Market: Where Things Stand at Mid-2026
Here is the mid-2026 data at a glance, with the detail and sourcing below:
| Metric | Figure | Source and date |
|---|---|---|
| Median house price | ~$938,000 (+4.2% for the quarter) | REIWA, June 2026 quarter |
| Dwelling value growth, annual | +20.5% (strongest of any capital city) | Cotality, year to July 2026 |
| Dwelling value growth, monthly | +0.1% | Cotality, July 2026 |
| Median dwelling value (houses + units) | ~$1,029,797 | Cotality, July 2026 |
| Properties for sale | 7,204 (+129.1% year-on-year) | REIWA, week ending 23 Aug 2026 |
| Median selling time, houses | 23 days (+10 days year-on-year) | REIWA, July 2026 |
| Median weekly rent, house | $750 (+1.4% for the quarter) | REIWA, June 2026 quarter |
| Median weekly rent, unit | $700 (unchanged) | REIWA, June 2026 quarter |
| WA population growth | +2.2% (fastest of any state) | ABS, year to Dec 2025 |
| RBA cash rate | 4.35% (held) | RBA, 11 Aug 2026 |
The Perth housing market in 2026 has had an unusual run so far. According to REIWA, the median house sale price rose 5.3% in the March 2026 quarter and a further 4.2% in the June 2026 quarter, reaching approximately $938,000 (REIWA, 2026). That puts Perth house prices in 2026 well above where they sat just a few years ago, and REIWA notes that, on current trends, the median could approach $1 million by year end, though this is a forecast rather than a guaranteed outcome.
Cotality’s July 2026 home value index, released 3 August 2026, adds useful context. Perth dwelling values (houses and units combined) were the only capital city result to post a positive month in July, up just 0.1%, after a downwardly revised 0.5% fall in June, the weakest single month since April 2020 (Cotality, 2026). The latest quarter recorded a 0.3% decline, even though annual growth still sits at 20.5%, the strongest of any Australian capital. The median dwelling value across houses and units was approximately $1,029,797, only 0.4% below Perth’s May 2026 peak.
Listings tell the most useful story for buyers: there were 7,204 properties for sale in the week ending 23 August 2026, up 129.1% on the same week a year earlier (REIWA, 2026), with weekly sales of 630 transactions. Selling times have moved with it: REIWA recorded a median of 23 days to sell a house in July 2026, five days slower than June and 10 days slower than the same time last year (REIWA, 2026). Rents have also moved, with the median weekly house rent up 1.4% in the June quarter to $750, while unit rents held steady at $700 (REIWA, 2026).
Read together, this points to a market that has grown strongly over the past few years but is now rebalancing, with considerably more stock than 12 months ago and price growth that has slowed. Western Australia’s population growth, at 2.2% for the year to December 2025 and the fastest of any state (Australian Bureau of Statistics, 2026), continues to support demand even as price growth eases. Anyone tracking the Perth housing market in 2026 should weigh this migration data alongside the price and listings figures above: it is one of the reasons Perth house prices in 2026 remain elevated even as monthly growth flattens.
What the Data Means for Buyers vs Investors
The mid-2026 conditions do not affect every buyer the same way. Investors typically weigh yield, capital growth and portfolio strategy over a longer time frame, and our separate guide on what Perth investors should watch in 2026 covers those considerations in more detail.
For owner-occupier and first home buyers, the more immediate questions are about affordability and competition: how much you can borrow, how much choice is on the market, and whether now is a practical time to be searching. The rise in listings gives buyers more to consider than a year ago, though prices remain elevated compared to 2023, so borrowing capacity and budget planning still matter.
How the Rate Environment Is Affecting Perth Borrowing Capacity
Interest rates directly affect how much a lender is willing to lend, because serviceability assessments (a lender’s check that you can meet repayments) are based on your ability to repay at current and assessed rates. The cash rate is the RBA’s benchmark interest rate, and it heavily influences the variable rates lenders charge. The RBA held the cash rate at 4.35% at its meeting on 11 August 2026, a unanimous decision, with its next review due in late September 2026 (RBA, 2026). The RBA has also flagged it is prepared to raise the cash rate further if inflation risks persist, so borrowers should not assume rate cuts are imminent. As with any rate figure, this is current as at 11 August 2026; verify with your lender or broker for current rates before making a decision.
What this could mean for your borrowing capacity, depending on which way the cash rate moves next:
- If the cash rate falls: some borrowers may see improved borrowing capacity, though lenders retain discretion over how much of any change is passed on.
- If the cash rate rises further: borrowing capacity would typically tighten rather than improve.
See our guide on how the 2026 rate cycle is affecting Perth mortgage decisions for more detail, and our article on refinancing trigger points Perth homeowners often miss if you already hold a loan and are weighing up your options. With prices elevated and the cash rate steady, it is worth checking how much you could borrow for a Perth home loan before you start inspecting, rather than after you have found one you like.
Pre-Approval Timing in a Moving Market
With more listings than a year ago, buyers have more room to compare properties, but that does not remove the value of being pre-approved before you start looking. Pre-approval gives you a clear, lender-assessed indication of your borrowing capacity, helping you set a realistic budget and move with confidence, particularly for well-priced homes in sought-after suburbs.
Remember that pre-approval is an indication only. Final approval remains subject to a satisfactory property valuation and a full credit assessment at the time of your formal application, so your financial position needs to stay consistent between pre-approval and settlement. Our detailed guide on how to get home loan pre-approval in Perth covers the documents you will need and how long pre-approval typically lasts.
What Buyers and Borrowers Should Consider Right Now
Rather than chasing Perth property market predictions, here is a practical checklist based on the data above:
- Confirm your borrowing capacity first. With the cash rate at 4.35% and prices still elevated, know your realistic budget before you start inspecting.
- Use the extra time to your advantage. Homes are taking longer to sell (a median of 23 days in July 2026, 10 days slower than the same time last year) so you generally have more room to compare and negotiate than buyers did in 2025.
- Keep pre-approval current. Most pre-approvals last around 90 days, so time yours to your realistic house-hunting window.
- Review your loan if you already have one. A steady cash rate is still a reasonable prompt to check your existing rate against the market.
- Check suburb-level data, not just the metro average. Perth-wide figures can mask very different conditions between suburbs, so check REIWA’s current suburb profile data for the specific area you’re considering before finalising a budget.
Frequently Asked Questions
Is the Perth property market going up or down in mid-2026?
Perth dwelling values were up 20.5% over the year to July 2026, the strongest annual growth of any Australian capital, but monthly and quarterly growth had slowed to close to flat by July (Cotality, 2026). Current data indicates a market that is levelling out after a strong run, rather than reversing.
What is the median house price in Perth in 2026?
REIWA recorded a median house sale price of approximately $938,000 for the June 2026 quarter (REIWA, 2026). Cotality’s broader dwelling value figure, which includes units, was approximately $1,029,797 in July 2026 (Cotality, 2026). Both figures put Perth house prices in 2026 well above pre-2023 levels, even with monthly growth now close to flat.
Are there more properties for sale in Perth than last year?
Yes. REIWA recorded 7,204 properties for sale in the week ending 23 August 2026, up 129.1% on the same week in 2025 (REIWA, 2026), giving buyers considerably more choice than a year ago.
Are homes selling faster or slower in Perth right now?
Slower than a year ago. REIWA recorded a median selling time of 23 days for houses in July 2026, 10 days slower than the same time last year (REIWA, 2026). Longer selling times generally give buyers more time to inspect, compare and negotiate before making an offer.
What is the current RBA cash rate and how does it affect my borrowing power?
The RBA held the cash rate at 4.35% as at its 11 August 2026 meeting, with its next decision due in late September (RBA, 2026). A higher cash rate generally reduces borrowing capacity, because lenders assess your ability to service a loan at current and assessed rates. This figure will change over time, so verify with your lender or broker for current rates, and speak with them to confirm your own borrowing capacity.
Should I wait for prices to fall before buying in Perth?
We cannot advise on the future direction of prices, and no one can guarantee how the market will move. Current data shows price growth has slowed and listings have increased, which may support more buyer choice, but your own borrowing capacity, deposit and timeline matter more than trying to time the broader market.
Talk to Strategic Mortgages Perth
This Perth property market update for 2026 points to a market that is moving, with more properties on the market, prices that have levelled off from their earlier pace, and a cash rate that has held steady at 4.35% following its most recent review. Whatever stage you’re at, it helps to know exactly where you stand. Get your borrowing capacity and pre-approval sorted with Strategic Mortgages Perth before your next move.
Disclaimer: The information provided in this article is general in nature and does not constitute financial, tax, or legal advice. Individual circumstances vary. We recommend consulting with qualified professionals before making financial decisions.
Data sources: REIWA (Perth weekly market snapshots, June and August 2026; median selling times, July 2026), Cotality (formerly CoreLogic) Home Value Index, July 2026, released 3 August 2026, Australian Bureau of Statistics (National, state and territory population, December 2025), Reserve Bank of Australia (Statement by the Monetary Policy Board, 11 August 2026). Figures are current as at the time of writing and are subject to change; verify current data directly with the source before relying on it for a financial decision.
