If you’re looking to buy property in Western Australia, Perth is no longer the bargain capital it once was. Prices have surged over the past few years, pushing the city into the million-dollar market in 2026.
You’ll likely spend time researching houses for sale in Perth and trying to understand whether the market still fits your budget. This guide breaks down the latest numbers, what’s driving them, and what to expect next.
Median House Prices in Perth (2026 Update)
Perth’s property market has experienced rapid growth since 2020, and that momentum has carried into 2026.
Latest Perth property prices
| Property Type | 2025 (Mid-Year) | 2026 (Current Range) |
|---|---|---|
| Median house price | ~$780,000 | $1.0M – $1.08M |
| Median unit price | ~$535,000 | $700k+ |
| Median dwelling | ~$800k–$850k | ~$960k – $990k |
👉 In simple terms:
A typical house in Perth now costs just over $1 million, marking a major shift from just a year ago.
What’s Driving Perth House Prices in 2026
Strong demand and limited supply
Perth continues to face tight housing supply, with demand outpacing available listings. This imbalance is one of the main reasons prices have risen so quickly.
Population growth
Western Australia is seeing steady population growth, increasing demand for both houses and rentals.
Investor activity and rental pressure
Low vacancy rates and rising rental yields are attracting investors back into the market, further pushing up prices.
Economic growth
The Western Australian economy remains supported by mining, while sectors like healthcare and tourism continue to expand. This supports job growth and housing demand.
Perth Property Market Forecast
Most forecasts suggest Perth will continue to grow in 2026, but at a slower pace.
| Source | Forecast Growth |
|---|---|
| REIWA | ~5% to 10% |
| SQM Research | ~6% to 9% |
| Market consensus | Moderate growth in 2026 |
👉 The key shift is not a drop in prices, but a slowdown in growth after a strong run.
For a deeper breakdown, see our full guide on the property market in Perth.
Is Perth Still Affordable in 2026
Perth is still more affordable than Sydney and Brisbane, but the gap is shrinking quickly.
- Perth: ~$1.0M+ median house price
- Brisbane: ~$1.1M+
- Sydney: ~$1.5M+
This means Perth still offers relative value, but it is no longer a “cheap” entry point.
Lifestyle and Liveability in Perth
Perth continues to attract buyers due to its quality of life.
- Coastal lifestyle with world-class beaches
- Relaxed pace compared to east coast cities
- Strong community feel and outdoor living
It remains one of the best places to live in Australia, especially for families and professionals looking for space and affordability compared to larger capitals.
Is Perth Still a Good Investment
Yes, but the strategy has changed.
Perth is no longer about buying cheap and waiting for growth. Instead, it is now:
- A growth market transitioning into maturity
- Driven by fundamentals like supply shortages and migration
- More competitive for buyers than it was just a few years ago
Investors should focus on:
- Location quality
- Infrastructure access
- Long-term demand drivers
Final Takeaway
Perth’s median house price has jumped from around $780,000 in 2025 to over $1 million in 2026.
Prices are still rising, but growth is beginning to stabilise. Strong demand, limited supply, and economic support continue to underpin the market.
Perth remains one of Australia’s most attractive property markets, but affordability is tightening fast.
FAQs on Perth House Prices in 2026
Will house prices drop in 2026 in Perth?
No, current forecasts suggest Perth house prices will continue rising in 2026, not falling. Some projections estimate growth of up to 13%, making Perth one of the strongest-performing capital cities.
How much will Perth property prices increase in 2026?
Estimates vary, but most forecasts expect:
- Houses: ~5% to 13% growth
- Units: ~7% to 11% growth
Units may grow faster due to affordability pressures and strong rental demand.
Is Perth property going to boom?
Perth is already in a strong growth phase. While the pace may stabilise, forecasts suggest continued growth between 6% and 8% annually, with long-term gains still expected over the next few years.
Which Perth suburbs are best to invest in for 2026?
Popular investment suburbs include:
- Baldivis
- Yanchep
- Byford
- Piara Waters
- Alkimos
- Willagee
These areas offer a mix of affordability, infrastructure growth, and strong rental demand.
Why are Perth house prices still rising?
Prices are increasing due to:
- Tight housing supply
- Strong population growth
- High rental demand
- Economic stability in Western Australia
Should I buy property in Perth in 2026?
If your finances are ready, buying in 2026 can still be a good move. Prices are expected to rise further, so waiting for a drop may mean paying more later.
