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!!
No comments:
Post a Comment