August 2026 Housing Market Update: Perth Holds Strong Despite a Cooling National Market
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The latest Cotality Monthly Housing Chart Pack – August 2026 shows Australia’s housing market continuing to lose momentum, with softer conditions emerging across many of the major capital cities.
National dwelling values fell 1.9% over the three months to July, while annual growth eased to 5.3%. Sydney and Melbourne are leading the downturn, recording quarterly declines of 4.0% and 3.4% respectively. The latest Cotality Monthly Housing Chart Pack – August 2026 shows Australia’s housing market continuing to lose momentum, with softer conditions emerging across many of the major capital cities.
National dwelling values fell 1.9% over the three months to July, while annual growth eased to 5.3%. Sydney and Melbourne are leading the downturn, recording quarterly declines of 4.0% and 3.4% respectively.
Against this backdrop, Perth continues to stand out for the strength of its longer-term performance.
Perth remains one of Australia's strongest performers
Perth dwelling values increased 0.1% in July and, despite easing 0.3% over the quarter, remain an impressive 20.5% higher over the past 12 months. Values are currently just 0.4% below the record high reached in May 2026.
This compares with annual dwelling value growth of 5.3% nationally, 3.9% across the combined capitals and 9.7% across regional Australia. Regional WA also remains one of the country's strongest markets, with dwelling values 19.8% higher over the year to July.
The rental market also remains tight. Perth rents increased 8.1% over the year to July, well ahead of the national rental growth rate of 5.9%, while regional WA rents increased 8.2%.
More properties coming to market
One of the more notable changes is the increase in properties available for sale.
In the four weeks to 9 August, new Perth listings were 21.5% higher than a year earlier, while total listings were up 36.4%. Cotality notes that rising stock levels across Perth, Brisbane and Adelaide are contributing to greater choice for buyers and softer selling conditions.
Sales activity has also slowed, with Perth sales volumes estimated to be 14.8% lower over the year to July.
What does this mean for WA property?
The figures point to a market that is changing pace rather than simply following the sharper downturn evident elsewhere.
Perth's rapid growth over recent years means it enters this softer phase from a considerably stronger position. In fact, Cotality's Chart of the Month highlights that even a hypothetical 20% decline from Perth's recent peak would take values back only to around April 2025 levels.
With annual dwelling value growth still above 20%, rental growth above the national average and regional WA continuing to perform strongly, Western Australia remains an important market to watch as conditions evolve through the remainder of 2026.
Source: Cotality Monthly Housing Chart Pack – August 2026
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