Perth Property Market – Prices, Trends, Forecast [June 2026]

Perth remains one of Australia’s clearest seller markets, with momentum still running ahead of the national cycle even as broader housing conditions soften. Dwelling values rose 25.8% over the year, supported by tight supply, strong population-driven demand, resilient employment conditions and rental pressure, although higher interest rates, affordability limits and weaker national confidence are starting to test the pace of growth. The market is still expanding, but it is moving into a more selective phase where the strongest gains are likely to depend on price point, suburb and buyer depth.

Key Takeaways

• Perth dwelling values rose 25.8% over the past year, keeping the city at the front of the capital-city growth cycle.
• The median dwelling value has reached $1,050,354, putting affordability pressure higher even as buyer demand remains firm.
• Quarterly growth of 4.8% shows the market is still rising, although national housing momentum is weakening.
• Units are outperforming houses, with annual growth of 27.8% compared with 25.6% for houses.
• Sellers still hold the advantage, but higher interest rates and stretched borrowing capacity are narrowing the buyer pool.
• Strong rental conditions, including Perth unit rent growth of 7.8%, continue to support investor interest despite higher holding costs.

Watch Cotality’s June 2026 Housing Market Update for expert commentary on national and capital city housing trends, price movements, and key market drivers across Perth.

Perth Property Price Growth

The price cycle is still carrying clear momentum, with Perth recording a 25.8% annual rise in dwelling values and a 4.8% quarterly gain. The median dwelling value now sits at $1,050,354, while total return reached 30.8%, reflecting both capital growth and rental yield support.

A closer look shows broad-based strength, but units are currently leading. Unit values rose 27.8% over the year, ahead of houses at 25.6%, with the median unit value at $768,808 compared with $1,097,164 for houses. This points to a market where affordability is increasingly pushing demand into relatively lower-priced segments.

Perth Property Market Trends

Beneath the headline growth, the market is becoming more segmented. Perth’s strongest annual gains are concentrated in more affordable and growth-corridor areas, led by Serpentine-Jarrahdale at 33.6%, followed by Armadale at 31.0%, Gosnells and Rockingham at 28.9%, and Swan and Wanneroo at 28.6%.

Rental pressure is another defining trend. Perth house rents rose 7.4% over the year and unit rents rose 7.8%, while the gross dwelling yield sits at 3.6%. That combination of strong rent growth and rapid value growth suggests demand remains deep, but also highlights the affordability ceiling now forming for both buyers and renters.

Here’s a quick look at how housing values are moving across different markets.

Perth Property Market Forecast

The next phase is likely to be one of continued growth, but at a more measured pace than the past year. Perth is still supported by tight housing supply, strong rental demand and a relatively resilient local economy, yet national headwinds are becoming harder to ignore, particularly higher interest rates, weaker confidence and stretched serviceability.

The key signal is that Perth is still rising strongly, with quarterly dwelling growth of 4.8%, while several larger capitals are already recording falls. That suggests local conditions remain more seller-favourable than the national average, but future gains are likely to be more selective, with affordable suburbs and unit markets best placed to attract demand as borrowing limits tighten.

The Reserve Bank of Australia’s ongoing adjustments to interest rates will likely play a crucial role in shaping market dynamics, as higher borrowing costs limit purchasing power for many buyers.

Here are some of the most recent forecasts by the big-4 banks in Australia:

• ANZ predicts a 5-6% increase in capital city property prices in 2024, with Brisbane expected to see the highest rise at 9-10%, Perth property values could go up by 1-11%, Sydney by 4-5%, and Melbourne prices by 2-3%.
• CBA forecasts a 5% rise in capital city prices, with some variations: Brisbane is anticipated to grow by 6%, Melbourne and Perth by 5%, Sydney by 4%, and Adelaide by 1%.
• NAB projects a 5.4% average increase across the capitals, with Brisbane expected to see a 6.5% rise, Perth and Adelaide by 6.2%, Melbourne by 5.5%, Sydney by 5%, and Hobart remaining flat.
• Westpac expects a 6% growth across the combined capitals, with Perth leading at 10%, followed by Brisbane at 8%, Sydney at 6%, Adelaide at 4%, and Melbourne at 3%

Oxford Economics recently released property forecasts predicting where house prices will be in three years.

Conclusion

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