Perth Property Market Update, May 2026

Perth property keeps growing. The noise around the national market has not changed that. In this special simulcast episode, Reece Beddall and Lachlan Delahunty join leading Perth Property Show host Trent Fleskens to review the May 2026 data for Western Australia and what it continues to signal for investors watching the market from outside the state.

What the May 2026 Perth Data Shows

Perth’s property market remains one of the strongest performing in Australia in 2026 despite the national headwinds created by rate rises and Budget changes. Vacancy rates in Perth remain below 1.5 percent. Median house prices continue to trend upward in key suburbs. Days on market remain compressed relative to pre-2023 norms.

The fundamentals driving Perth’s performance are structural, not cyclical. Population growth is outpacing dwelling completions. State government infrastructure investment is concentrated in corridors where property demand is growing. Building approvals remain below the level needed to resolve supply within a two to three year window.

How the Budget Changes Have Affected Perth Investor Activity

The national Budget reaction has been most pronounced in Sydney and Melbourne where investor concentration in established property is highest. In Perth, the effect has been more muted. The WA market’s price point, yield profile, and undersupply characteristics mean the return case for Perth property does not rely on negative gearing as a primary driver to the same extent as east coast established markets.

What Investors Outside WA Should Know About Perth in 2026

The most common misread on Perth from interstate investors is that the market has already run. The data does not support that conclusion. Median prices in Perth’s middle ring suburbs remain below the replacement cost of new construction in most cases. Rental yields in established family home markets in suburbs like Baldivis, Clarkson, and Midland continue to outperform any comparable east coast market at the same price point.

Published: 28 May 2026