PERTH REAL ALERT

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Listings for sale in Perth exceed 7,000 for first time in over three years

The number of Perth properties advertised for sale was 7,335 at the end of August.

This was 7.8 per cent higher than July and 146.1 per cent higher than at the end of August 2025.

OVER 7000 LISTINGS
The last time active listings* were over 7,000 was at the end of March 2023.
REIWA President Suzanne Brown said the rise in active listings was a result of an easing of demand and the increase in the time taken to sell a property.
“Active listings have more than doubled since March,” she said.
“Such a strong increase over a relatively short period of time may imply there has been a surge in the number of people looking to sell a home. In reality, after a shortage of new listings in late 2025 and early 2026, new listings have mostly returned to long-term average levels.”
“As we know, the heat has well and truly come out of the market and the increase in active listings represents an easing in demand, which has led to a decline in sales activity.
“This has been created by a number of factors.
“Three interest rate rises have affected borrowing power and mortgage serviceability. Buyers are understandably being prudent with their spending.

“This has flowed through to price outcomes, with nearly half of all properties selling for less than the asking price in July.
“Another factor affecting demand has been the changes to taxation policy in the Federal Budget. This has seen a reduction in both investor and first home buyer activity.

“There is a general feeling that first home buyers are waiting for prices to fall and homes to become more affordable. The question is how long do you wait? It took five years for Perth’s annual median house sale price to drop 12.8 per cent (or $70,000) during the extended property downturn. And at the moment, any falls in prices have been eroded by the increase in interest rates earlier this year.”

PERTH SALES MARKET
Perth annual median sale prices rose in August.
The median house sale price** rose 1.1 per cent over the month to $960,000. This was 18.5 per cent higher year-on-year.
The median unit sale price** increased 1.3 per cent in August and 22.6 per cent over the year to $690,000

“When looking at changes in property prices, it is important to understand the reporting method,” Ms Brown said.

“REIWA publishes an annual median sale price based on pending and settled sales. An annual median shows trends. It also removes monthly volatility, which is useful when markets are relatively stable but prices are fluctuating slightly month to month. However, it can be slow to respond to a change in market dynamics, which is what we are seeing now.
“REIWA’s annual median sale prices are currently showing some growth, but when we look at the June 2026 quarter, Perth’s median sale prices have recorded declines. At the suburb level, most suburbs saw their quarterly median prices decline.

“As the market has moved fairly quickly from a strong seller’s market to conditions that are more favourable to buyers, it is essential sellers speak to local REIWA members to get the most up to date information on price movements and demand in their area.”
Ms Brown said it was important to keep any declines in perspective.
“The headlines talk about prices plunging, plummeting and crashing, but in reality, current declines are very small and represent a relatively small dollar figure,” she said.

“If you have bought recently and are worried about price declines, remember it’s only a loss on paper. Property is not like shares, you are not going to sell now to try and mitigate any further potential losses. In fact, currently you would be likely to “lose” more in terms of stamp duty costs for a new home, agent commission, and moving.”

SUBURBS with GROWTH
Suburbs that saw the most median house sale price growth in August were Hamilton Hill (up 3.3 per cent to $1,033,500), Greenwood (up 3.2 per cent to $1,146,750), Scarborough (up 2.9 per cent to $1,550,000), East Cannington (up 2.8 per cent to $902,500) and Secret Harbour (up 2.8 per cent to $1,000,000).

Doubleview, Mandurah, Waikiki, Spearwood and Bassendean were also among the top performers, recording growth of 1.9 per cent or more over the month.

The suburbs that saw the most median unit sale price growth were Como (up 1.9 per cent to $866,000), Fremantle (up 1.6 per cent to $772,500), Mount Lawley (up 1.6 per cent to $650,000), Victoria Park (up 1.2 per cent to $615,000) and East Perth (up 1.1 per cent to $688,000).

TIME on MARKET
Houses in Perth sold in a median of 23 days in August, unchanged from July but 12 days slower than a year ago.
Units sold in a median of 21 days, two days slower than July and 11 days slower than in August 2025.

According to reiwa.com data, the fastest selling suburbs for houses in August were Midland (10 days); Nollamara (11 days); Kewdale, North Perth, and Maylands (12 days); Bedford (13 days); and Yangebup, Singleton, Padbury, and Kardinya (14 days).

FASTEST SELLING SUBURBS
For units were Yokine (seven days);
Subiaco (nine days)
West Leederville and Burswood (10 days)
Fremantle (11 days); Perth (12 days)
South Perth (14 days)
Maylands (17 days)
Victoria Park and Scarborough (21 days).

PERTH RENTALS
Perth median house and unit rent prices were stable again in August.
The median weekly rent for houses remained unchanged at $750 but was 7.1 per cent higher than a year ago.
The median weekly rent for units was also stable at $700. This was 7.7 per cent higher than August 2025.
The median dwelling rent declined 0.7 per cent over the month to $725 per week and was 6.6 per cent higher than the same time last year.
Ms Brown cautioned against assuming stability at the Perth level indicated the rental market had eased.

We saw several periods of stability last year, but the overall trend in growth was upwards,” she said.
“While we are seeing some stability in overall median rent prices, there is still price movement at the suburb level and for individual properties.
“Perth still has a shortage of rental properties and demand remains strong. This is highlighted by the consistently low number of active rental listings each month and the ongoing fast time to lease a property.”

SUBURBS RENT GROWING
Suburbs that saw the most growth in their median weekly house rent price in August were…
Rivervale (up 7.2 per cent to $780)
Willetton (up 4.7 per cent to $890)
Meadow Springs (up 3.1 per cent to $670)
Dianella (up 3 per cent to $850)
Forrestfield (up 2.5 per cent to $727).
The suburbs that saw the most growth in their median weekly unit rent price were…
East Perth (up 4.0 per cent to $780)
Rockingham (up 3.5 per cent to $522)
Como (up 1.7 per cent to $745)
Victoria Park (up 1.7 per cent to $610)
Claremont (up 1.6 per cent to $800).

LISTING for RENT
There were 2,085 properties available for rent on reiwa.com at the end of August. This was 4.0 per cent lower than July and 6.6 per cent lower than the same time in 2025. Ms Brown said Perth’s rental supply remained constrained.
“Active listings for rent continue to be low. We are not seeing a noteworthy increase in new rental listings, which indicates there has been no significant change in supply,” she said.

“Rental vacancies continue to be filled in around two weeks, which reflects the strong demand for rental properties.
“The Federal Budget has had a clear impact on investor sentiment. Lending activity declined in the June quarter, according to ABS data and bank reporting, which is a concern for rental supply, vacancy rates and rent prices going forward.”

MEDIUM LEASING TIMES
Homes leased in a median of 15 days during August, one day faster than July and also one day faster than August 2025.
reiwa.com data showed the suburbs recording the fastest median leasing times were Bayswater, Alkimos, Harrisdale, Cloverdale, and Armadale (11 days); Hamilton Hill and Claremont (12 days); and Thornlie, Subiaco, and Maylands (13 days)

*Active listings – the number of properties advertised on reiwa.com at any given time. New listings – new properties listed for sale.

* REIWA publishes an annual median sale price based on pending and settled sales.