04/09/2026
PERTH MARKET UPDATE | AUGUST 2026 🏡
For the first time this cycle, Perth’s numbers are sending mixed signals.
Cotality recorded Perth dwelling values falling 0.8% in August, with the median dwelling value slipping back below $1 million to $999,987. Annual growth has also eased from 20.5% in July to 15.6%.
But REIWA tells another side of the story. Perth’s median house sale price increased 1.1% to $960,000, up 20% year-on-year.
Both can be true. Cotality measures the direction of dwelling values across the market, while REIWA’s median reflects the properties that actually sold.
The bigger shift is stock.
Perth listings reached 7,312, up 7.8% in a month and more than double the 2,981 available a year ago. At the same time, sales have slowed and days on market have increased.
Closer to home, the City of Melville remains resilient, with its median house price rising to $1,635,500, up 16.8% over the year. But listings are rising and buyers are taking longer to commit.
So, has Perth entered a downturn? We don’t believe so.
What we are seeing is a market becoming more balanced after years of extreme undersupply. Buyers finally have more choice, more time and greater negotiating power, while sellers face more competition.
For sellers, pricing on hope is finished. Presentation, positioning and getting the price right from day one are becoming increasingly important.
For buyers, this could be the first genuine window in two years but Perth’s underlying population growth and housing shortage haven’t disappeared.
The market is changing. The opportunity is changing with it.
Read our full August Market Update via the link in bio.
