04/09/2026
IS IT JUST BUYER CONFIDENCE?
A lot of talk about Perth “crashing” right now. Here’s my take:
Yes, confidence is down. 7 weeks of price falls (all adding up to -1.4% since May 12 peak) + 7,312 listings on market vs 2,941 this time last year = buyers are in wait and see mode.
It’s not just sentiment - we’re finally back to healthy supply levels, with the most choice buyers have seen in years. Though feedback has been, finding that perfect place can still feel like a needle in a haystack.
The difference to last downturn? We’re at ∼40% income to mortgage. Last time we declined, Perth hit 49%. Syd/Melb are 55-60%. Perth isn’t in mortgage stress territory.
All 5 capitals are falling at almost the same rate now (-0.19% to -0.34%). That’s macro, not a local Perth problem.
The flip side no one talks about: Vacancy still tight at 2.2%, rents flat at $750. With current policy pushing investors out, rents are tipped to jump 30%.
Falling prices + rising rents = yields improve from ∼3.9% to 5%+. That’s what brings mum and dad buyer back and one reason for a floor under the market.
Sentiment is driving the weekly dips. Fundamentals will decide where it stops.
Want to chat about what this means for you?
Call Marcel La Macchia on 0422 408 711 or DM me.
