Perth’s property market recorded a modest decline in sales for the week ending 15 March 2026, reflecting a slight easing in activity. However, supply remains constrained, with listings still well below last year’s levels. The rental market also continues to tighten, underscoring strong ongoing demand.
Market Slows Slightly Amid Ongoing Supply Constraints
Perth’s housing market showed a small dip in momentum over the past week, with residential sales falling by 2.3%. According to the Real Estate Institute of Western Australia, this type of short-term fluctuation is not unusual and follows a pattern of week-to-week variability seen in recent months.
Despite the decline in transactions, the broader market remains supported by limited housing supply and consistent buyer interest. These conditions continue to provide stability even when weekly figures soften.
Sales Activity Edges Lower
Residential sales across Perth declined slightly compared to the previous week, reflecting a temporary slowdown rather than a significant shift in market direction.
Detached houses, units, and land sales continue to move in varying directions week to week, contributing to overall fluctuations in total sales activity.
Listings Remain Below Last Year’s Levels
Although the number of properties for sale changes from week to week, total listings remain considerably lower than levels recorded a year ago.
This ongoing shortage of available homes is a key factor maintaining upward pressure on property prices and limiting buyer choice across the market.
Rental Market Stays Highly Competitive
Rental supply in Perth continues to tighten, with available listings either declining or only increasing marginally.
This reflects strong tenant demand and low turnover, creating a challenging environment for renters searching for available properties.
What This Means for Buyers
For buyers, the slight dip in sales may present brief opportunities to negotiate, but overall conditions remain competitive.
Limited listings mean choice is still restricted, and well-priced properties are likely to attract strong interest.
What This Means for Sellers
Sellers continue to benefit from a market defined by low supply and steady demand.
Even with minor weekly dips in sales, these conditions support property values and can lead to competitive offers, particularly for well-presented homes.
What This Means for Renters
Renters face ongoing challenges due to the tight supply of available properties.
With demand remaining high, competition for rentals is expected to stay intense, placing upward pressure on rents and reducing options.
Market Outlook
While weekly activity may fluctuate, Perth’s property market remains underpinned by strong fundamentals.
According to the Real Estate Institute of Western Australia, low supply and consistent demand are expected to keep the market resilient in the near term.
