Perth Home Values Remain a Standout: 14.9% Annual Growth Despite a Cooler National Market

Perth’s property market continues to stand out nationally, giving WA homeowners an encouraging longer-term picture even as Australia’s broader housing market cools.

The latest PropTrack Home Price Index shows Perth home prices were 14.9% higher in July 2026 than a year earlier, tying with Darwin for the strongest annual growth among the capital cities. Perth prices eased 0.2% during July, but the city’s annual performance remains substantially stronger than the national increase of 3.9%.

There is also useful perspective for Perth homeowners concerned by recent headlines about a national housing downturn. Cotality’s August Housing Chart Pack says Perth, Brisbane and Adelaide retain a sizeable buffer from the substantial gains accumulated during the past five years. Its modelling found that even a hypothetical 20% decline in Perth values would only return the market to approximately April 2025 levels. That is not a forecast of a 20% fall; it illustrates how significant the preceding growth has been.

Reuters provided another reassuring perspective this week. In analysis published 25 August 2026, it noted that while Australian housing has softened, conditions do not currently resemble a systemic housing or credit crisis. Limited housing supply and elevated construction costs also continue to provide some underlying support to property values.

For Perth homeowners, the message is not that property prices can only rise. Interest rates, affordability and economic conditions can all influence future values.

Instead, the latest data highlights the importance of looking beyond short-term monthly movements. Perth homeowners who have owned their property through the recent growth cycle may have accumulated considerably more equity than they realise.

That can be relevant when considering refinancing, renovating, upgrading or purchasing an investment property. Equity alone does not determine borrowing capacity, however; income, expenses, existing liabilities, lender policy and serviceability requirements remain important.

Naga Mortgage Brokers can help you understand your current lending position, assess available home-loan options and determine whether your existing mortgage remains competitive.

General information only. Lending criteria, fees and charges apply.