Growth Eases and Choice Expands as Rate Hikes Cool Frenzied Demand
Perth Market Overview
The Perth property market in June 2026 continues to stabilise into a more balanced environment. While home values are still hitting record highs, the rapid pace of growth is losing momentum as buyers navigate expanding supply and reduced borrowing capacities.
According to Cotality’s June 2026 Chart Pack:
- Monthly change: +1.5%
- Quarterly change: +4.8%
- Annual change: +25.8%
Data from the Real Estate Institute of Western Australia (REIWA) shows strong performance across both sectors for May/June:
- Median house price: $920,000 (+2.2% monthly / +16.5% annually)
- Median unit price: $660,000 (+2.3% monthly / +22.0% annually)
- Median house rent: $750/week (Stable monthly / +9.5% annually)
- Median unit rent: $700/week (Stable monthly / +7.7% annually)
What’s Driving the Market?
Supply Levels
Active listings on reiwa.com broke past the 5,000 mark at the end of May for the first time since November 2024, sitting at 5,137 properties (a 16.0% monthly surge). By the week ending June 21, total listings climbed further to 5,901, offering buyers much-needed choice.
Buyer Demand
While overall demand remains robust, the “frenzied” conditions of early 2026 are tempering. Properties are taking slightly longer to move—houses hit a median of 14 days on the market in May compared to just 9 days back in February.
Population Growth & Wealth
Western Australia continues to lead the nation in dwelling asset growth. The latest ABS data reveals that the total value of WA’s dwelling stock jumped a massive 7.5% (+$92.7 billion) in the March quarter alone, bringing the state’s mean dwelling price to $1,103,500.
Interest Rates & Economy
The Reserve Bank of Australia (RBA) held the cash rate steady at 4.35% in June. However, the cumulative weight of three consecutive rate hikes earlier this year has heavily impacted borrowing power. Buyers are now significantly more price-conscious and discerning at home opens. Additionally, some investors are adopting a “wait-and-see” approach following Federal
What This Means for Buyers and Sellers
- For Buyers: You finally have more choice and slightly more time to make a decision compared to the hyper-competitive summer peak. However, with interest rates keeping borrowing capacity tight, securing an upfront pre-approval is vital.
- For Sellers: The market is not in a downturn, but the days of pricing blindly above market expectations are tapering. Correct, data-driven pricing strategies are critical to securing a clean contract within the current 14-day median window.
Outlook for Next Month
Looking ahead, the Perth market is expected to moderate in its rate of capital growth, with three key factors to watch:
- Listing Influx: Whether winter seasonal trends slow down the recent healthy injection of new property listings.
- RBA Messaging: Any shift in inflation data that signals whether the 4.35% cash rate is truly the peak or if further hikes loom.
- Investor Liquidations: Shifts in established property stock as landlords recalibrate portfolios ahead of upcoming state and federal legislative deadlines.
Whether you’re buying, selling, or investing in Perth or premium southern suburbs like Willetton, Riverton, Leeming, and Parkwood, our team can help you navigate these shifting conditions.
👉 Contact us today for a complimentary, hyper-local property assessment.
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