Perth property values
After the boom: +20.5% for the year, a record $1.18m house median - and momentum that switched off in May. The full sheet.
Sheet PER.01 · Updated August 2026 · Sources: Cotality, Domain, PropTrack, RBA - full list on the Sydney sheet
Other locations: Sydney · Brisbane · Melbourne
Perth is best read as flat: June was revised down to -0.5% and July managed +0.1%, leaving values a touch below the May 2026 peak - after gaining almost 90% in five years. (Cotality, Aug 2026)
A decade of Perth medians
Half a decade of drift after the mining downturn, then the steepest climb of any capital: Perth's house median doubled between 2020 and 2026.
Median price, houses vs units - 2016 to June 2026
The boom is over. The floor is high.
Days-to-sell have nearly doubled year on year and listings are back at long-term levels - but from the tightest starting point in the country, with 0.5% vacancy and the best big-city yields.
That is why Perth's forecasts stayed positive even after the Budget: the investor maths still works here, the WA economy is still hiring, and the outer corridors are still clearing 27-30% annual growth. Flat-to-positive is the base case, not a crash.
| Correction status | Flat: +0.1% July after June was revised to -0.5%; -0.4% below the May 2026 peak (Cotality) |
|---|---|
| Annual growth | +20.5% dwellings · houses +20.4% · units +21.8% (Cotality, Jul 2026) |
| Domain house median | $1,183,000 record - +1.0% qtr, the 15th consecutive quarterly rise (Jun qtr 2026) |
| Auctions | Very few - Perth is a private-treaty market; no meaningful weekly clearance rate (Cotality) |
| Days to sell | Houses 23 days - 5 slower than June, 10 slower than a year ago (REIWA, Aug 2026) |
| Listings | Active listings back above 6,000 - normalised after the shortage; sales -14.8% yr (REIWA / Cotality, Aug 2026) |
| Rents | House $750/wk (+7.1% yr) and unit $700/wk (+7.7% yr) - records; +8.1% yr, strongest of the majors (Domain / Cotality) |
| Yield / vacancy | Dwellings 3.7% (units 4.7%) · vacancy 0.5% - second-tightest capital (Cotality / SQM) |
The national rate path
Every capital answers to the same cash rate: 2025's three cuts fuelled the boom's last leg, 2026's three hikes ended it. Held at 4.35% on 11 August; the big banks do not expect the first cut until around mid-2027.
RBA cash rate - May 2022 to August 2026
Mining still writes the script
Perth's market has always moved with WA's resource fortunes - and resources demand is what keeps SQM's double-digit forecast on the table.
Migration is still strong
Interstate and overseas migration into WA keeps demand elevated against a housing stock that normalised only this winter.
Momentum has switched off
After +89.6% in five years, June was revised negative and July was flat; days-to-sell nearly doubled year on year off a very fast base.
The rental market never loosened
0.5% vacancy, $750/wk house rents and the best big-city yields still pull investors - even after the negative gearing change.
The outer ring is still booming
Serpentine-Jarrahdale +30.8%, Armadale +29.4% and Rockingham +27.8% for the year to June - the affordability catch-up runs on.
Published 12-month Perth forecasts
$15,300,000 - Dalkeith
WA's most expensive home sale of 2026 to date - the Pemberton family's Dalkeith purchase reset the year's benchmark.
$12,500,000 - Mosman Park
The former Forrest home - the earlier 2026 record the Dalkeith deal eclipsed; a Saunders Street estate listed in April is tipped to rewrite the state record again.
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