While Perth properties are taking slightly longer to sell than earlier this year, the market remains highly active by historical standards. Houses sold in a median of 14 days during May, compared to just over a week earlier in the year. At the same time, median house prices rose to $920,000, up 16.5 per cent compared to a year ago. For sellers, this indicates continued buyer demand and strong price growth, despite a more balanced pace of transactions. 

Buyers Gain More Choice and Greater Decision-Making Time

An increase in new listings has provided buyers with more options across the Perth market. This has reduced some of the urgency experienced during the first quarter of the year, when limited stock and strong competition saw properties sell rapidly. Buyers now have more time to compare properties and make informed decisions while still participating in a market supported by strong economic fundamentals.

Landlords Continue to Benefit from Stable Rental Conditions

Perth’s rental market remains resilient, with median rents holding at $750 per week for houses and $700 per week for units. Rental listings remain relatively low, and homes continue to lease quickly, with a median leasing time of 15 days. These conditions continue to support investors and landlords seeking consistent rental demand and stable returns.

A More Balanced Market Supports Long-Term Sustainability

According to REIWA, increased listings and changing buyer sentiment are contributing to a more balanced market. While price growth may moderate in the coming months, current conditions do not indicate a downturn. Instead, Perth appears to be transitioning from an exceptionally heated market to one that offers greater opportunities for buyers, sellers, and investors alike.

Source: Data and market commentary sourced from the Real Estate Institute of Western Australia (REIWA) May 2026 Perth Market Update.