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

Perth remains one of Australia’s clearest housing market standouts, even as the national cycle loses momentum. Dwelling values rose again over the month, stayed at peak, and delivered one of the strongest annual growth rates among the capital cities. For homeowners and sellers, the market is still being supported by tight supply, firm buyer demand, and strong recent gains, although the pace of growth is now easing.

Key Takeaways

• Perth dwelling values rose 0.7% over the month, taking annual growth to a strong 23.9%.
• The median dwelling value reached $1,046,551, with houses at $1,093,431 and units at $773,605.
• Units outpaced houses over the year, rising 26.3% compared with 23.6% for houses.
• Perth remains at peak, with dwelling values up 89.6% over five years and 109.4% over ten years.
• Growth has slowed from earlier in the year, suggesting sellers still have favourable conditions but should price with more precision.
• Gross yields remain stronger for units at 4.7%, compared with 3.6% for houses and 3.7% across all dwellings.

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 latest numbers show Perth is still advancing, but at a more measured pace. Dwelling values increased 0.7% in the month, 2.0% over the quarter, and 23.9% annually, placing the city among the strongest capital city performers despite a broader national slowdown.

Under the surface, units are leading the pace. Perth units rose 0.8% over the month, 3.0% over the quarter, and 26.3% over the year, while houses recorded 0.7% monthly growth, 1.9% quarterly growth, and 23.6% annual growth. The median house value sits above the million-dollar mark at $1,093,431, while the median unit value remains lower at $773,605, giving buyers a more affordable entry point into the market.

Perth Property Market Trends

A key feature of the Perth market is that values are still sitting at peak, unlike several larger capitals that have moved into decline. Over the past five years, dwelling values have climbed 89.6%, while the ten-year gain is 109.4%, highlighting the scale of Perth’s longer-term reset.

The strongest local growth has also been concentrated in more affordable and outer growth markets. Areas such as Serpentine-Jarrahdale, Armadale, Rockingham, Swan, Mandurah, Kwinana, Gosnells, Wanneroo, Cockburn, and Belmont-Victoria Park recorded annual dwelling value gains above 25%, showing that demand has remained particularly strong across value-driven and family-oriented markets.

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

Perth Property Market Forecast

Looking ahead, the most likely direction is continued resilience with slower growth rather than a sharp reversal. Perth’s market has strong support from its recent outperformance, peak-level values, and solid quarterly momentum, but the monthly pace has clearly cooled from the stronger gains recorded earlier in the year.

Several headwinds are now more visible, including affordability pressure, higher borrowing costs, weaker sentiment, and softer national housing conditions. Even so, Perth’s 2.0% quarterly gain, 23.9% annual rise, and at-peak position suggest the city remains better placed than many other capitals. Sellers still have a strong backdrop, but pricing discipline will matter more as buyers become more selective.

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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