What’s happening in Perth and nationally
Perth continues to outperform every major Australian capital on an annual basis, but the latest data confirms the market is moving into a more balanced phase after two years of exceptional growth.
While conditions remain significantly stronger than most other capital cities, rising interest rates, cost-of-living pressures, and increasing housing supply are beginning to slow the pace of price growth. Home Value Index falling 0.7% according to the latest data from Cotality
Perth Property Snapshot | July 2026
| Indicator | Result |
|---|---|
| Monthly change | +0.1% |
| Quarterly change | ‑0.3% |
| Annual change | +20.5% |
| Median dwelling value | $1,029,797 |
| Gross rental yield | 3.8% |
The headline remains the same: Perth is still Australia’s strongest-performing capital city over the past 12 months, but momentum is clearly easing.
One notable detail from this month’s release was a substantial revision to June’s figures. What was initially reported as positive growth was revised lower, ultimately tipping the month into negative territory. It’s a reminder that Perth’s remarkable run is beginning to normalise rather than accelerate.
How Perth Compares Nationally
Nationally, housing markets continue to soften.
Sydney (-1.4%) and Melbourne (-1.2%) recorded the sharpest monthly declines in July, while Brisbane (-0.6%) and Adelaide (-0.2%) also slipped into negative territory.
Against that backdrop, Perth remained one of the few capital city markets still recording positive monthly growth, supported by strong population growth, low unemployment and ongoing housing supply constraints.
What We’re Seeing on the Ground
REIWA’s latest market snapshot (week ending 23 August 2026) reinforces the shift toward a more balanced market, with listings continuing to rise while transaction volumes remain solid. REIWA’s latest weekly data (week ending 23 August 2026) provides a real‑time snapshot of Perth’s market conditions.
Perth remains one of the strongest rental markets nationally, with Cotality reporting 8.1% annual rent growth for houses and 7.8% for units.
Market Activity
- 451 houses sold
- 153 units sold
- 26 land lots sold
Current Listings
- 4,939 houses available for sale
- 1,616 units available for sale
- 649 land listings
The increase in available stock is giving buyers more choice than they’ve had in recent years. While quality properties continue to attract strong competition, buyers are generally taking more time, negotiating harder and conducting greater due diligence before committing.
Median Prices
- Median House Price: $950,000
- 2-Bedroom Houses: $900,000
- 3-Bedroom Houses: $875,000
- 4-Bedroom Houses: $1.04 million
Rental Market
- Median House Rent: $750 per week
- 2-Bedroom Houses: $650 per week
- 3-Bedroom Houses: $720 per week
- 4-Bedroom Houses: $780 per week
Perth remains one of Australia’s strongest rental markets, helping to support investor demand despite the moderation in dwelling value growth.
Top-Selling Areas This Week
North of the River
- Alkimos (10 sales)
- Perth (10 sales)
- Balga (9 sales)
- Dianella (8 sales)
South of the River
- Burswood (18 sales)
- South Perth (10 sales)
- Mandurah (9 sales)
- Byford (9 sales)
These results highlight continued demand across both established inner-city suburbs and major growth corridors.
Why Growth Is Slowing
The same pressures affecting property markets nationally are becoming more visible in Perth:
- 75 basis points of rate increases so far this year
- Cost-of-living pressures reducing borrowing capacity
- Softer consumer confidence
- More cautious investor behaviour
- Increasing stock levels creating greater buyer choice
Importantly, slower growth doesn’t necessarily mean falling prices.
Strong migration, low unemployment, ongoing construction constraints and a persistent housing shortage continue to provide support for Perth property values. Most analysts expect a period of moderation rather than a significant correction.
In other words, the market appears to be cooling, not crashing.
Interest Rates: What It Means for Borrowers
The Reserve Bank held the cash rate at 4.35% again this month, with inflation continuing to ease.
Most economists now expect rates to remain relatively stable through the remainder of 2026, with the next RBA decision scheduled for 29 September.
For borrowers, this higher-for-longer environment makes it increasingly important to review loan structures and ensure current rates remain competitive.
Many homeowners are surprised to discover they’re paying significantly more than new customers at the same lender.
Two Important Finance Updates
SMSF Property Lending Changes
New rules effective from 10 August have tightened what qualifies as an “acquirable asset” under SMSF borrowing arrangements.
For some investors, this may reduce available lending options for future SMSF property purchases. If SMSF property investment forms part of your long-term strategy, now is a good time to review your options.
Check Your Offset Account
ASIC recently identified instances where offset accounts were not correctly linked to home loans.
A quick review of your banking app or loan statement can help confirm your offset balance is actually reducing the interest being charged on your mortgage.
If you’re unsure what to look for, we’re happy to help or check out our blog for more information.
What This Means for You
Homeowners
- Review your mortgage rate and loan structure.
- Check your offset account is working correctly.
- Consider repricing or refinancing opportunities.
Buyers
- Increased listings mean more choice and stronger negotiating power.
- The urgency of recent years has eased.
- Having finance pre-approved puts you in a stronger position heading into spring.
Investors
- Rental demand remains strong.
- Perth continues to compare favourably with most capital cities.
- Recent tax and lending changes mean strategy is becoming increasingly important.
Ready for a Mortgage Review?
Whether you’re buying, refinancing, investing or simply checking that your current loan remains competitive, now is a great time to review your options.
Book a complimentary mortgage review with Fox Mortgage Services today:
Sources: Cotality HVI August 2026, REIWA Market Insights