Perth Property Market Report 2026: Prices, Trends and the Suburbs to Watch

Perth's property market has continued its remarkable run into 2026, with the median house price sitting at approximately $780,000 — a year-on-year increase of around 9 per cent. The median unit price has climbed to $460,000, reflecting sustained demand from both owner-occupiers and investors who have been priced out of Sydney and Melbourne. Perth remains one of Australia's most competitive capital city markets, driven by strong interstate migration, a booming resources sector, and a chronic undersupply of new housing stock that shows little sign of resolving in the near term.

Auction clearance rates in Perth have been running at 65 to 72 per cent through the first half of 2026, up from around 58 per cent in the same period last year. Median days on market for houses has compressed to just 12 days in popular inner and middle-ring suburbs, a figure that reflects the intensity of buyer competition. Multiple-offer situations remain common, with agents across suburbs like Inglewood, Bayswater and Morley reporting that well-presented homes regularly attract five or more offers within the first open-home weekend.

Three Perth suburbs are standing out in 2026 for outperformance. Ellenbrook in the north-east corridor has seen median house prices rise nearly 14 per cent year-on-year to around $560,000, driven by new school openings, the under-construction Ellenbrook train line extension, and a demographic shift as young families move further out for affordability. Fremantle continues to attract buyers drawn to its lifestyle, port culture and proximity to the beach, with the median house price now exceeding $1.1 million but still holding buyer demand. Baldivis in the south has emerged as a sleeper pick, with median prices around $520,000 and strong rental demand from HMAS Stirling naval base personnel underpinning investor interest.

Looking ahead through the remainder of 2026, Perth's property market faces a delicate balance. The Reserve Bank of Australia's interest rate trajectory remains the single biggest variable — any cuts would likely further inflame demand, while any unexpected hike could cool activity in the outer suburbs where mortgage stress is starting to show. The state government's social housing pipeline is adding some supply, but new residential approvals remain below the long-run average needed to meet population growth. For buyers and investors, the consensus among Perth-based property analysts is that the window for entry at current prices may narrow further as the year progresses.

This article was compiled by AI from the sources linked above and screened before publishing. See our editorial standards.