Perth Property Market 2026 Forecast

Perth Property Market 2026 Forecast: What First Home Buyers Should Know

If you’re thinking about building or buying your first home in Perth, understanding where the property market is headed in 2026 can make a big difference in your planning.

According to the latest market outlook from the Real Estate Institute of Western Australia (REIWA), strong price growth is expected to continue across the Perth property market in 2026, and that has real implications for first home buyers and new builds.

Perth’s Price Growth Forecast for 2026

The REIWA forecast predicts that:

• Median house prices could rise by more than 10 % in 2026

• Median unit prices may grow between 15 % and 20 % over the year

That means both houses and units are likely to see continued upward movement in values, reflecting ongoing demand and constrained supply conditions.

Across 2025, Perth’s median sales figures climbed steadily and ended the year at record highs, with demand still outpacing available listings.

What’s Driving the Growth?

According to REIWA President Suzanne Brown, several factors are supporting the forecasted price increases:

1. Supply and Demand Imbalance

There’s still a shortage of available properties compared with the number of buyers actively looking, especially in well-connected suburbs. Limited stock tends to push prices up.

2. Population Growth

Perth continues to experience solid population growth, adding more pressure to housing demand.

3. Strong Unit Market

As affordability tightens for larger homes, some buyers are looking to units, townhouses and villas, which have seen faster price growth in recent periods.

Even though rising prices can make the market feel competitive, understanding these drivers helps you plan your first home build or purchase with confidence.

What This Means if You’re Building

For first home buyers planning to build rather than buy established, this forecast is an important signal:

• Land and new builds may increase in value as price growth continues.

• Being ahead of the market with a build can give you certainty on your future property worth.

• The pressure on supply reinforces the value of strategic planning and execution, especially where land availability is tight.

If you’re thinking about building in 2026, it’s even more valuable to align your finance, design and land decisions early so you can move with confidence, before broader price rises take effect.

What Buyers Should Consider

If you’re in the early stages of planning your first home build:

1. Start earlier rather than later:
With forecasted price growth, early engagement with land and builders can help you secure favourable options before prices rise further.

2. Understand supply constraints:
Low inventory means demand can quickly outstrip available blocks. Keeping an eye on new releases and developer partnerships is wise.

3. Build with a plan in mind:
Having your finance support lined up, and a clear idea of timeframe (from sign-up to slab and beyond), gives you an edge in a tight market.

These factors can make the difference between dreaming about building and actually building, even in a rising market.