If you’ve been watching the Perth property market lately, you know it’s moving at its own pace—and that pace is “fast.” While the rest of the country is finding its footing in 2026, Perth continues to prove its resilience.

Here is everything you need to know about what happened in the market last week and what it means for you.

Sales Activity: The Unit Market is Having a Moment

Last week, REIWA members reported 871 transactions. While the total volume was slightly down (0.7%) compared to the week prior, the real story is in what people are buying.

  • Units are the MVP: Unit sales jumped a significant 9.1% last week. As house prices continue to climb, buyers are clearly pivoting toward the lifestyle and affordability that units and apartments offer.
  • House Sales: Remained steady and consistent with the previous week.
  • Land Sales: Saw a sharp decline of 32.9%, suggesting a temporary cooling in the vacant lot sector.

Top Performing Suburbs (Sales):

  • Baldivis led the pack with 17 sales.
  • East Perth and Shenton Park followed closely with 15 each.
  • Perth and Thornlie rounded out the top five with 12 sales apiece.

The Price Gap: Last week saw a massive spectrum in sales. The highest price achieved was a stunning $5,900,000 in Watermans Bay, while the most accessible entry point was $428,000 in Subiaco.

The Listing Crunch: Where Has All the Stock Gone?

If it feels harder to find a home than it was this time last year, you aren’t imagining it. At the end of last week, there were only 2,753 properties for sale in Perth.

  • Year-on-Year: We are currently sitting at listing levels 43% lower than this time last year.
  • Weekly Shift: Total listings dropped 1% over the week. While house and unit listings both tightened (down 2.6% and 3% respectively), there was a 12.6% increase in vacant land hitting the market.

For sellers, this remains an incredibly strong “seller’s market.” With stock levels nearly half of what they were a year ago, competition for well-presented homes is fierce.

Rental Market: Tenants are Moving Fast

The rental market remains exceptionally tight, with just 1,880 properties available for rent—a 2.1% decrease from the previous week.

  • Leasing Velocity: Despite the low stock, agents were busy! 666 properties were leased last week, which is up 7.9% on the week prior and 10.4% higher than a month ago.
  • Supply Strain: Rental listings are 6.7% lower than they were a year ago, maintaining significant pressure on the vacancy rate.

Top Performing Suburbs (Rentals):

  • Perth (City): 20 properties leased
  • Maylands: 19 properties leased
  • East Perth: 16 properties leased
  • Baldivis: 14 properties leased
  • Scarborough: 13 properties leased

The Bottom Line

Perth’s market in early 2026 is defined by a “unit-led” surge and a persistent shortage of established homes. Whether you are looking to capitalize on the high demand for units or trying to navigate the competitive rental landscape, timing and preparation are everything.

Contact our friendly team today to find out more!