In the world of real estate, we often talk about “local” factors—school zones, new shopping centers, or local council zoning. However, as we navigate the first quarter of 2026, the Perth property market is being shaped by forces much further afield. At Holdsworth Real Estate, we believe in providing our clients with the full picture, and the latest data from March shows a market that is remarkably resilient despite significant global and legislative pressures.
From the conflict in the Middle East to shifting federal policy discussions, there is a lot to unpack. Here is our comprehensive look at the Perth property landscape and how these “big picture” issues are hitting home.
The Building Bottleneck: Why “Established” is King
The building industry is currently facing a “perfect storm.” According to REIWA, the ongoing conflict in the Middle East is driving up oil prices, which has a direct ripple effect on construction costs and the logistics of the global supply chain.
As REIWA Deputy President Rob Mandanici recently noted, we’ve seen this script before. During the pandemic, supply chain disruptions led to a massive shift in buyer behavior. When people can’t build with certainty, they turn to the established market. This creates a surge in demand for existing homes, which in turn pushes prices higher—especially when inventory is already low.
For those currently in the rental market or looking to build, this is a concerning trend. Delays in construction keep people in their rental properties longer, preventing the “flow” of housing that usually keeps the market balanced.
The Rental Crisis: A Squeeze on Supply
The Perth rental market continues to be a point of significant concern. The median dwelling rent rose to $720 per week in March, a nearly 6% increase compared to this time last year.
Perhaps more alarming is the long-term trend of investor participation. Modeling suggests that roughly 20,000 rental properties have been removed from the WA market since the pandemic began. With talks of changes to Capital Gains Tax (CGT), negative gearing, and tenancy legislation, many investors are feeling hesitant.
March Rental Performance by Suburb:
| Top House Rent Growth | Increase % | Median Rent |
| Southern River | 5.1% | $820 |
| Rockingham | 5.0% | $630 |
| Gosnells | 4.0% | $650 |
| Scarborough | 3.9% | $1,000 |
In the unit market, South Perth (up 7.7% to $700) and Scarborough (up 6.0% to $795) led the charge. Despite these high numbers, the actual number of properties available for rent fell by 11.1% year-on-year. For tenants, speed is essential; properties in Hilbert are leasing in a median of just eight days.
Sales Market: Prices Hit New Peaks
While some buyers are showing signs of hesitancy due to interest rates and inflation, the sales market remains incredibly robust. The median house price in Perth has climbed to $880,000, a 13.5% increase year-on-year. Even more striking is the unit market, which has seen a 20% surge over the last 12 months, bringing the median to $630,000.
Where is the growth happening?
- Houses: Suburbs like Jindalee and Bayswater saw monthly growth of over 3%.
- Units: North Perth recorded a massive 7% jump in just one month.
The “Speed” of the Market:
If you are selling, the conditions are near-perfect. Houses are selling in a median of just nine days. In some pockets, like Yokine, homes are moving in as little as two days. This speed reflects a high-intent buyer pool that is ready to act the moment the right property hits the portal.
A Glimmer of Hope: Listings are Rising
There is some “breathing room” on the horizon for buyers. Active listings rose to 3,394 at the end of March—a 23.6% increase from February. While this is still significantly lower than historical averages (down 31.3% from March 2025), the seasonal influx of new listings has given buyers a slightly wider selection.
However, we expect this to be short-lived. With April’s school holidays and multiple public holidays, new listing activity typically cools off, meaning the window of “extra choice” may be narrow.
The Holdsworth Perspective: What Should You Do?
For Investors:
The current climate is complex. While the threat of legislative change is frustrating, the fundamental supply-and-demand metrics in Perth remain some of the strongest in the country. With a vacancy rate that remains incredibly tight and rents still rising, the yield remains attractive for those who can navigate the financing.
For Sellers:
You are in a position of strength, but “buyer hesitancy” is a real factor. High-quality marketing and a realistic pricing strategy are essential to ensure you capture the serious buyers before they are spooked by further interest rate discussions or global news.
For Buyers:
The 23.6% increase in listings is your opportunity. Use this period of relative “choice” to secure a property before the winter slowdown.
A Note on Policy: At Holdsworth Real Estate, we echo the calls for caution regarding taxation changes. Stable investment environments are what create stable housing markets. We encourage our clients to stay informed and reach out to us for a personalized assessment of how these potential changes might affect their portfolios.
Perth is a resilient city, and our property market reflects that. Even with global pressures, the desire for the West Australian lifestyle remains the ultimate driver of value.
Ready to make your move in this fast-paced market? Contact the team at Holdsworth Real Estate today for an up-to-date appraisal or to discuss your investment strategy.
