Perth Property Listings Reach a Three-Year High

Perth’s property market is entering a different phase, with the number of homes available for sale reaching its highest level in more than three years.

At the end of August, there were 7,335 properties advertised for sale across Perth, an increase of 7.8 per cent from July and 146.1 per cent compared with August 2025. It is the first time active listings have exceeded 7,000 since March 2023.

Despite the significant increase, this does not necessarily mean there has been a sudden surge of homeowners deciding to sell. New listings were unusually low throughout late 2025 and early 2026 and have now largely returned to longer-term average levels. At the same time, demand has eased and properties are taking longer to sell, allowing the overall number of homes available to accumulate.

More choice for Perth buyers

Higher interest rates have affected borrowing capacity and mortgage affordability, while activity from investors and first home buyers has also declined. Together, these factors have contributed to softer buyer demand and a market that is becoming more balanced after an extended period of strong competition.

The change can also be seen in selling times. Perth houses sold in a median of 23 days during August, compared with 11 days a year earlier. Units took a median of 21 days to sell, 11 days longer than in August 2025.

Some areas are continuing to move considerably faster. North Perth was among Perth’s fastest-selling suburbs for houses during August, recording a median selling time of just 12 days.

What is happening to prices?

While conditions are becoming more favourable for buyers, Perth’s annual median prices remained higher in August. The median house sale price reached $960,000, up 18.5 per cent from a year earlier, while the median unit sale price reached $690,000, an increase of 22.6 per cent.

However, annual figures can take time to reflect changing market conditions. More recent quarterly results have shown some price declines across Perth and in a number of individual suburbs, although these movements have so far been relatively modest.

The changing conditions mean sellers may need to adjust to a market where buyers have more options and properties can take longer to sell. Pricing, presentation and understanding the level of demand within an individual suburb are therefore becoming increasingly important.

Perth’s rental market remains tight

The shift in the sales market has not been mirrored in rentals. There were 2,085 properties available for rent at the end of August, 6.6 per cent fewer than at the same time last year.

Median weekly rents remained at $750 for houses and $700 for units, while properties leased in a median of 15 days. This continued combination of limited supply and relatively fast leasing times indicates that demand for Perth rental properties remains strong.

With more properties available and buyers gaining greater choice, understanding current conditions in your local market is becoming increasingly important when preparing to sell.