HOUSING SHORTAGES WILL THAT PUSH PRICES HIGHER AGAIN

Westpac CEO Anthony Miller believes Australia's housing shortage will see property prices start rising again next year, despite recent falls.

His main message is simple: the biggest problem isn't demand, it's supply.

Miller says governments should focus on making it cheaper to build homes rather than offering incentives such as first home buyer grants. He believes subsidies for construction materials, roads, water, sewerage and other infrastructure could help bring housing costs down and improve affordability.

Westpac expects property prices to recover once the current downturn ends, forecasting growth of around 3% in 2027 and 8% in 2028. The reason is straightforward: demand for housing continues to exceed supply.

He also pointed out that many first home buyers are sitting on the sidelines waiting for prices to fall further, while investor activity has dropped sharply since the federal budget changes.

The reality is Australia simply isn't building enough homes. With the government's target of 1.2 million new homes already falling behind schedule, affordability challenges are unlikely to disappear anytime soon.

Key Takeaways

• Australia's housing shortage remains the biggest issue.
• Westpac expects property prices to start rising again next year.
• Supply, not demand, is the main challenge.
• Government support should focus on reducing building costs.
• Infrastructure costs can make up as much as 30% of a home's price.
• Australia is not on track to meet its housing construction targets.
• Housing affordability will remain a major challenge unless supply increases.

My take: Until more homes are built and construction costs come down, don't expect housing affordability to improve significantly. The supply shortage continues to be the key driver of the property market. Make the most of the lull in the market right now as it certainly wont last.

MAKE YOUR OWND DECISIONS AND GIVE IT A REAL GO!!

SELLING MOSMAN PARK & THE WESTERN SUBURBS!!

KEEPING IT REAL IS OUR MOTTO!!

RENT CAPS SOUND GOOD - BUT THEY WON'T FIX PERTH'S RENTAL CRISIS

There's no denying that rental affordability is a major issue in Western Australia. Rents have risen significantly in recent years, and many tenants are feeling the pressure.

As a property professional, I understand why rent caps are being discussed. On the surface, they seem like a simple solution. The reality, however, is that they don't address the real problem.

WA's rental crisis is fundamentally a supply issue. We simply do not have enough rental properties to meet demand.

Introducing rent caps doesn't create a single new rental home. It doesn't speed up approvals, release land, or encourage investors to build or buy rental properties. It only places restrictions on the existing stock in an already undersupplied market.

History shows us what can happen when rent controls are introduced. In cities around the world, including San Francisco, strict rent controls have been linked to a reduction in rental supply as landlords exit the market. Other heavily regulated rental markets continue to struggle with long waiting lists and housing shortages.

This is not about removing protections for tenants. Renters deserve fairness, security, and clear tenancy laws. Strong protections and a healthy rental market should go hand in hand.

The challenge is that most rental properties in WA are provided by everyday investors who choose to make their property available for rent. If enough owners decide the investment no longer stacks up, they can sell, reducing the number of rental homes available.

Every property that leaves the rental market makes it harder for tenants looking for a home.

The answer isn't to discourage investment. It's to encourage more of it while maintaining sensible protections for renters.

At the end of the day, if we want more rental properties, we need more people willing to invest in providing them.

Rent caps may sound appealing, but they risk making an already difficult situation even worse.

If this Government keeps pushing the investors there will be a lot more for sale coming up, I cannot see the rent's stopping in the next 3-6 months.

MAKE YOUR OWN DECISIONS & GIVE IT A REAL GO!!

SELLING MOSMAN PARK & THE WESTERN SUBURBS!!

KEEPING IT REAL IS OUR MOTTO!!

PERTH SPRING PROPERTY MARKET SET FOR A SLOWER START

The traditional spring selling rush may be much quieter this year, and Perth is beginning to feel the impact of changing market conditions.

Across Australia, new property listings have fallen sharply, sitting 8.2% below the five-year average and 2% lower than this time last year. While Perth has been one of the country's strongest performers over recent years, the slowdown in buyer demand is starting to influence seller behaviour.

Many Perth homeowners are becoming more cautious about bringing their properties to market. With home values softening, sales activity declining and buyers taking longer to make decisions, some vendors appear to be waiting for stronger conditions before listing.

The interesting trend is that while fewer new properties are coming onto the market, the total number of homes available for sale continues to rise. This tells us buyers are taking more time to commit, creating more competition among sellers and giving purchasers greater negotiating power.

Nationally, Sydney, Melbourne and Brisbane are leading the slowdown in new listings, but Perth is also experiencing weaker transaction activity compared to a year ago. The days of multiple buyers competing aggressively for every listing are becoming less common, creating a more balanced market.

For Perth buyers, this could be welcome news. More choice, less competition and increased negotiating power are creating opportunities that haven't been available for some time. For sellers, however, realistic pricing and strong presentation will be more important than ever.

As we move through spring, Perth is still likely to outperform many eastern states, but the market appears to be transitioning from the rapid growth phase of recent years into a more measured and balanced environment.

We have noticed that the amount of appraisals we have been doing for the last month have dropped of considerably so therefor there will not be many listings coming to the market in spring time - sellers are definitely thinking to hang in there and make the extra cash, however they are trading up so it would be better to sell NOW !! 

If you are a buyer and you see something that you like, do not hesitate BUY IT !!

MAKE YOUR OWN DECISIONS & GIVE IT A REAL GO!!

SELLING MOSMAN PARK & THE WESTERN SUBURBS!!

KEEPING IT REAL IS OUR MOTTO!! 

PERTH PROPERTY MARKET COOLS AS LISTINGS TOP 7,000

For the first time in more than three years, Perth now has over 7,000 properties for sale, with active listings hitting 7,335 at the end of August. That's up 7.8% from July and a massive 146% higher than this time last year.

Before sellers panic, it's important to understand what's happening. New listings haven't exploded. Instead, homes are simply taking longer to sell as buyer demand softens. Interest rate rises, tighter borrowing conditions and Federal Budget changes have all taken some heat out of the market.

The good news? Perth prices are still holding up surprisingly well.

The median house price increased 1.1% in August to $960,000, while unit prices rose 1.3% to $690,000. Annual growth remains strong at 18.5% for houses and 22.6% for units.

Some of the standout performers were Hamilton Hill, Greenwood, Scarborough, Secret Harbour and East Cannington, while Como, Fremantle and Mount Lawley led the way in the unit market.

Homes are taking longer to sell, with the median selling time now sitting at 23 days for houses and 21 days for units. That's noticeably slower than a year ago but still relatively quick by historical standards.

What About Rents?

Despite softer sales conditions, the rental market remains extremely tight.

House rents remain steady at $750 per week and units at $700 per week. Available rental stock actually fell during August, with just 2,085 properties available for rent across Perth.

Properties are still leasing in around two weeks, confirming demand remains strong and rental supply remains well below what's needed.

My Take

The Perth market is no longer the frenzy we saw earlier this year, but it certainly isn't crashing. Buyers now have more choice and a little more negotiating power, while sellers need to be realistic on price and presentation.

For investors, the rental market remains the standout performer, with strong demand and low vacancy levels continuing to support rental returns.

The market is cooling, not collapsing. That's a big difference.

Perth Snapshot - August 2026

• Median House Price: $960,000 (+1.1%)
• Median Unit Price: $690,000 (+1.3%)
• Median House Rent: $750/week
• Median Unit Rent: $700/week
• Properties For Sale: 7,335
• Properties For Rent: 2,085
• Median Selling Time: 23 days
• Median Leasing Time: 15 days

Bottom line: Buyers have more options, sellers need to adjust expectations, and landlords are still in a strong position. Perth's property market is cooling into a more balanced market rather than falling off a cliff.

MAKE YOUR OWN DECISIONS & GIVE IT A REAL GO!!

SELLING MOSMAN PARK & THE WESTERN SUBURBS!!

KEEPING IT REAL IS OUR MOTTO!! 

PERTH PROPERTY MARKET FINALLY FEELING THE SLOWDOWN

Australia's housing downturn is accelerating, with 93% of capital city suburbs recording price declines over winter. National home values have now fallen for five consecutive months and sit 3.6% below their March peak.

While Sydney remains the hardest-hit market, down 7.1% from its peak, Perth is no longer immune to the cooling trend. Perth home values fell 0.8% in August, matching Adelaide and reflecting a broader slowdown spreading across the country. (Really 0.8% that's nothing to compared to all the states and we dont feel that the Western Suburbs under the million have declined at all - it's best to talk to the people on the ground)

A key concern for Perth is the sharp drop in buyer activity. Alongside Brisbane and Sydney, Perth recorded one of the biggest declines in sales volumes, with transaction numbers falling more than 20% compared to a year ago. As buyer demand weakens, properties are taking longer to sell and listings are building up. (It's called we have gone to a "normal" market; we are still experiencing a reasonable number of buyers. First home buyers dont come to the properties over $750,000 unless they have Mum & Dad with them)

Across Australia, higher interest rates, affordability pressures and reduced buyer confidence are weighing on the market. Sydney, Melbourne, Brisbane and Canberra have all recorded larger monthly declines, while regional markets are also feeling the pressure. (By the number of people that I see in the restaurants during the week & weekends you wouldn't think people are having a hard time budgeting at all !!) 

The growing number of properties available for sale is creating a more balanced market and giving buyers greater choice. However, lower buyer confidence means many are still sitting on the sidelines. (Probably because agents that have not caught up yet with what's happening are still promising their vendors - sellers big prices)

For Perth homeowners, the market remains stronger than many eastern states, but the latest figures suggest the rapid growth seen over recent years is easing as housing conditions soften nationwide. (We are still getting so many people coming to WA for the best life our secret is out and now we are getting invaded).

MAKE YOUR OWN DECISION & GIVE IT A REAL GO!!

SELLING MOSMAN PARK & THE WESTERN SUBURBS!!

KEEPING IT REAL IS OUR MOTTO!!

PERTH RENTS CONTINUE TO CLIMB

 Perth's rental market remains one of the strongest in the country, with median weekly rents now sitting at $750, up from $747 previously and $700 a year ago.

While the latest increase of 0.4% may seem modest, rents are still 7.1% higher than this time last year, highlighting the ongoing pressure facing tenants across the city.

With demand continuing to outstrip supply, Perth remains a challenging market for renters and a strong one for property investors.

Key Numbers:

• Median rent: $750 per week
• Previous median rent: $747 per week
• Same time last year: $700 per week
• Quarterly growth: 0.4%
• Annual growth: 7.1%

I cannot say that the Government was way off in its predictions about rents increasing by $2 per week - it's a joke. I have some compassion for the tenants trying to get into the rental market today as the rents have skyrocketed. 

Just bearing in mind that landlords also have had to bear a lot of costs - everything has gone up for them as well its such a vicious cycle.

MAKE YOUR OWN DECISIONS AND GIVE IT A REAL GO!!

SELLING MOSMAN PARK & THE WESTERN SUBURBS!!

KEEPING IT REAL IS OUR MOTTO!! 

SUNCORP CUSTOMERS SET FOR BIG MOVE TO ANZ

More than 1.2 million Suncorp Bank customers will begin transitioning to ANZ from June 2027 as ANZ's $4.9 billion takeover moves ahead. (I am with ANZ and in the last 2-3 years I have moved 5 of my accounts to Macquarie - god help everyone) 

The change will affect everyday banking customers, mortgage holders, brokers and loan customers, making it one of the largest banking migrations in Australian history. (I worry how long you will have to wait on the phone to get anyone - you cannot just walk into the Bank and expect to see someone you have to make an appointment) 

Finance commentator David Koch says the merger is a timely reminder for Australians to review their banking arrangements; compare products and ensure they're still getting the best deal.  (If you are not doing that anyway you might be getting charged a lot higher interest) 

Customers should also be on high alert for scams. Major banking changes often create opportunities for fraudsters who may send fake emails, text messages or phone calls pretending to be from the bank. (Hopefully people will pick up the phone to talk to the ANZ - you might get through within 45 minutes)

ANZ and Suncorp have committed to making the transition as simple and secure as possible, with customers gaining access to ANZ's larger branch network, banking specialists and anti-fraud technology.

For now, customers don't need to take any action, but it's worth staying informed and watching for official communications from the bank.

Tip: Never click links in unexpected messages about your bank. If in doubt, contact your bank directly using official contact details.

More information is available on the Suncorp Bank website.

MAKE YOUR OWN DECISIONS AND GIVE IT A REAL GO!!

SELLING MOSMAN PARK & THE WESTERN SUBURBS!!

KEEPING IT REAL IS OUR MOTTO!!