Perth Property Q&A: R-Code Changes, Growth Runway and the Australian Market in Mid-2026

Reece Beddall and Lachlan Delahunty return to the listener Q&A format with a rapid-fire episode covering every major Australian property market. From WA’s game-changing R-Code rezoning to the outer Melbourne house-and-land trap, Darwin’s shifting fundamentals, and Sydney’s move back to advertised prices, every answer is backed by Follio’s proprietary data.

Perth: How Much Growth Runway Is Left?

Lachlan’s analysis suggests Perth still has approximately 20 percent capital growth remaining before hitting its affordability ceiling at the current $1.1 million median price point. The basis for that assessment is the price-to-income ratio comparison between Perth and comparable cities at equivalent stages of their growth cycles, combined with the supply data showing building approvals remain well below the level required to resolve the shortage within a two to three year window.

The WA R-Code change, reducing the minimum lot size from 900 to 700 square metres, opens up approximately 50,000 additional residential subdivision opportunities across Western Australia. This is a material supply policy change that will take time to flow through to actual completions, but investors in affected corridors need to understand what it means for the future supply profile of their assets.

Sydney: Why Agents Are Advertising Prices Again

Sydney agents listing properties with advertised prices rather than taking them to auction is a specific signal. It reflects vendor acceptance that auction clearance rates below 50 percent make public campaigns a liability rather than an advantage. The shift to private treaty and advertised pricing is the mechanism through which a buyers market actually works: it transfers negotiating power from vendor to buyer. For investors watching Sydney, this shift matters.

Melbourne, Darwin, Busselton and Regional WA After the Budget

The Q&A covers Melbourne’s outer-suburb house-and-land packages in detail, with Reece challenging the narrative that these represent value given the opportunity cost relative to established assets in Melbourne’s established middle ring. Darwin’s shifting fundamentals, driven by defence spending and resource sector activity, are examined against the buying group narrative that has pushed Darwin property to some audiences as an obvious play. Busselton’s post-budget position for regional WA investors rounds out the episode with a direct assessment of yield versus growth trade-offs in the current environment.

Published: 28 Jul 2026