Perth Continues to Lead While Market Conditions Begin to Shift

The latest Cotality Housing Chart Pack shows Perth remains one of Australia's strongest-performing property markets, although broader market conditions are beginning to evolve.

Perth dwelling values increased 25.8% over the past 12 months, significantly outperforming most other capital cities. By comparison, Melbourne recorded annual growth of just 0.5%, while Sydney values have fallen 2.1% below their recent peak.

One of the more notable trends emerging from the data is the performance of Perth's unit market. Unit values increased by 27.8% over the year, outpacing house growth of 25.6%. This suggests affordability is becoming an increasingly important factor for buyers entering the market.

The report also highlights continuing pressure in rental markets. National vacancy rates remain extremely low at 1.5%, while Perth rental values increased 7.5% over the past year. Gross rental yields in Perth currently sit at 3.6%, remaining attractive compared to many eastern states markets.

At the same time, there are signs that conditions are becoming more balanced. New listings nationally have increased, homes are taking slightly longer to sell in some markets, and vendor discounting has started to rise as buyers gain more negotiating power.

Despite these changes, Perth remains a standout performer. Strong population growth, limited housing supply and ongoing demand continue to support the market, even as conditions elsewhere soften.

Source: Cotality Housing Chart Pack – June 2026