Investment property · Perth
Investment Property Perth: 2026 Market Guide
Prices, rents, yields and 10-year growth across Greater Perth's 31 council areas, what is changing after the boom, what it costs to buy, and how to judge Perth as an investor in 2026.
How we assess Perth for investors
- Perth tested against your brief, like every market
- Suburbs screened on supply, demand and rents
- Every property checked against 250+ data points
- Negotiation, due diligence and settlement handled
- neighbourhoods screened
- 15,000+
- data points per property
- 250+
- years in the industry
- 11+
By Mossy Taheri, licensed buyer’s agent · Updated · Data to 30 September 2026
Key takeaways
- Perth house values are 10.0% higher than a year ago, among the strongest of the capitals, but they fell 4.6% in the September quarter as the national downturn reached the west.
- Over the 10 years to September 2026, typical house values in Greater Perth grew 8.5% a year and unit values 5.8% a year (HtAG).
- Typical rents are about $732 a week for a house and $686 for a unit, after growing about 11.3% a year for houses over five years. Gross yields are 3.9% for houses and 5.2% for units (Cotality).
- Rental vacancy was 0.6% in September 2026 (SQM Research).
Perth property market at a glance
Perth spent much of the 2010s in a downturn after the mining investment boom, then turned in 2020. Since then, strong migration, a resources-backed economy, very low vacancy and limited new supply have pushed values up faster than almost anywhere else. Its median house value is now about $1.02 million, and the market has started to cool in 2026.
- Median house value · Cotality, Sep 2026
- $1,017,734
- Median unit value · Cotality, Sep 2026
- $714,265
- House values, past 12 months · Cotality, Sep 2026
- +10.0%
- Unit values, past 12 months · Cotality, Sep 2026
- +10.5%
- Gross rental yield, houses · Cotality, Sep 2026
- 3.9%
- Gross rental yield, units · Cotality, Sep 2026
- 5.2%
- Rental vacancy rate · SQM, Sep 2026
- 0.6%
- Houses, 10-year growth · HtAG
- 8.5% a year
- Typical house rent · HtAG
- $732 a week
Sources are listed with each figure; see the full list at the end of this guide. HtAG figures cover Greater Perth (31 council areas), to 30 September 2026.
Perth property prices and growth
The past year
Cotality's index shows Perth house values up 10.0% and unit values up 10.5% over the 12 months to September 2026; Perth and Darwin recorded the highest annual gains of the capitals. But dwelling values fell 4.7% over the September quarter and sales were 24.2% lower than a year earlier, so momentum has clearly slowed.
The long run
HtAG's data shows typical house values across Greater Perth growing 19.3% a year over three years and 15.1% a year over five. The 10-year figure, 8.5% a year, is lower because it includes the tail of the post-mining downturn. Lower-priced outer councils such as Serpentine-Jarrahdale, Kwinana, Armadale and Wanneroo have led over 10 years, while Peppermint Grove, the City of Perth and western suburbs such as Claremont and Cottesloe grew least.
| Past 12 months | 3 years (a year) | 5 years (a year) | 10 years (a year) | |
|---|---|---|---|---|
| Houses | +10.0% | +19.3% | +15.1% | +8.5% |
| Units | +10.5% | +18.2% | +12.4% | +5.8% |
Past 12 months: Cotality, 12 months to September 2026. Three, five and 10 years: annual compound growth in typical values, HtAG Analytics, to 30 September 2026, averaged across 31 council areas weighted by sales. HtAG’s values are modelled and smoothed, so they react to turning points more slowly than Cotality’s monthly index.
At 8.5% a year, a house worth $500,000 in 2016 would be worth about $1,130,000 today. That’s an average: individual suburbs and properties did much better or worse, and past growth is no guide to the future. Model your own scenarios in the property growth calculator.
Rents, yields and vacancy in Perth
Perth rents have grown faster than any other capital's over five years, about 11% to 12% a year for houses and units, and 8.0% over the year to August 2026 (Cotality). SQM's vacancy rate was just 0.6% in September. A typical house rents for about $732 a week, from around $589 in Mandurah to more than $1,400 in Peppermint Grove. Gross yields are 3.9% for houses and 5.2% for units.
| Typical rent a week | Rent growth, 5 years (a year) | Gross yield | |
|---|---|---|---|
| Houses | $732 | 11.3% | 3.9% |
| Units | $686 | 11.8% | 5.2% |
Rents: HtAG Analytics typical weekly rent, September 2026, averaged across council areas weighted by rental listings. Gross yield: Cotality, September 2026. Vacancy: SQM Research, September 2026.
Gross yield is a first filter, not the whole story. Test the cash flow of a specific property, after interest, rates, insurance, management and maintenance, in the property cash flow calculator.
Perth council areas compared
Over 10 years, Perth's lower-priced outer councils, including Serpentine-Jarrahdale, Kwinana, Armadale and Wanneroo, have grown fastest. Peppermint Grove, the City of Perth and western suburbs such as Claremont and Cottesloe have grown least.
| Council area | House rent | Houses, 5 yrs (a yr) | Houses, 10 yrs (a yr) | Unit rent | Units, 5 yrs (a yr) | Units, 10 yrs (a yr) |
|---|---|---|---|---|---|---|
| Armadale | $648 | 18.6% | 9.4% | $547 | 21.5% | 11.6% |
| Bassendean | $724 | 14.3% | 7.8% | $650 | 15.2% | 7.4% |
| Bayswater | $750 | 14.2% | 7.7% | $626 | 14.0% | 6.3% |
| Belmont | $731 | 15.1% | 7.4% | $684 | 12.0% | 5.6% |
| Cambridge | $1,176 | 9.7% | 7.5% | $718 | 13.2% | 5.7% |
| Canning | $738 | 14.9% | 8.2% | $636 | 16.7% | 7.0% |
| Claremont | $1,140 | 7.2% | 5.9% | $839 | 9.7% | 5.9% |
| Cockburn | $738 | 15.4% | 8.6% | $635 | 10.4% | 4.4% |
| Cottesloe | $1,318 | 5.0% | 6.0% | $874 | 9.2% | 6.8% |
| East Fremantle | $1,033 | 9.7% | 7.6% | $728 | 7.7% | 3.5% |
| Fremantle | $953 | 11.1% | 7.3% | $762 | 12.2% | 6.0% |
| Gosnells | $676 | 17.3% | 8.4% | $566 | 17.3% | 6.2% |
| Joondalup | $770 | 14.7% | 8.9% | $662 | 13.7% | 6.2% |
| Kalamunda | $707 | 14.3% | 7.8% | $600 | 13.7% | 6.2% |
| Kwinana | $609 | 19.1% | 9.9% | – | – | – |
| Mandurah | $589 | 16.1% | 9.0% | $522 | 16.0% | 7.8% |
| Melville | $828 | 10.6% | 6.9% | $687 | 11.1% | 8.4% |
| Mosman Park | $1,143 | 9.5% | 6.3% | $690 | 8.7% | 5.2% |
| Mundaring | $765 | 13.0% | 8.1% | – | – | – |
| Nedlands | $1,179 | 8.1% | 6.7% | $879 | 8.1% | 5.4% |
| Peppermint Grove | $1,483 | 3.8% | 1.9% | – | – | – |
| Perth | $963 | 7.7% | 4.8% | $775 | 10.1% | 3.6% |
| Rockingham | $602 | 16.1% | 8.7% | $530 | 18.1% | 8.6% |
| Serpentine-Jarrahdale | $678 | 18.4% | 10.4% | – | – | – |
| South Perth | $830 | 12.0% | 7.6% | $703 | 12.1% | 6.2% |
| Stirling | $878 | 13.1% | 8.2% | $654 | 12.4% | 6.1% |
| Subiaco | $1,102 | 10.2% | 7.2% | $741 | 9.3% | 5.2% |
| Swan | $705 | 15.9% | 8.6% | $596 | 18.3% | 7.5% |
| Victoria Park | $809 | 13.7% | 7.5% | $667 | 10.5% | 4.9% |
| Vincent | $949 | 11.9% | 7.8% | $714 | 14.9% | 6.0% |
| Wanneroo | $689 | 17.0% | 9.2% | $608 | 15.3% | 7.5% |
HtAG Analytics, typical weekly rents and annual compound growth in typical values, to 30 September 2026. Council figures hide big differences between suburbs, and a dash means there weren’t enough sales for a reliable figure.
What drives the Perth property market
Perth is the capital of Western Australia and the administrative centre for much of the country's resources industry. Iron ore, liquefied natural gas, gold and other commodities support head offices, engineering and services firms, and a large fly-in fly-out workforce. Historically, the local property market has tended to follow resources cycles, with stronger periods during booms and softer periods after them. Many resources workers live in Perth and commute to regional sites on rosters, which supports demand in suburbs with easy airport access.
Beyond mining, employment comes from health, education, government and construction. Fiona Stanley Hospital and the Queen Elizabeth II Medical Centre are major employers, and the University of Western Australia, Curtin, Murdoch and Edith Cowan universities support rental demand near their campuses. Ongoing investment in the rail network has added new stations and lines, which can change how suburbs connect to jobs.
Perth's housing is dominated by detached houses, many on larger blocks and built with double-brick construction. Title structures are different from the east coast: green title, survey-strata and built strata each carry different costs, rules and control over the property. Understanding which one applies is part of any Perth purchase. Newer outer suburbs also carry the question of how much land is still to be released nearby, which affects future competition for tenants.
What to check before you buy in Perth
Resources cycle
Demand in parts of Perth has historically tracked mining activity, so local employment mix is part of suburb selection.
Title structure
Survey-strata and built strata properties may involve strata levies and rules that green title homes do not.
Rail access
New and established train stations shape which outer suburbs are practical for commuting tenants.
Bushfire-prone areas
Properties near the Perth Hills and bushland are checked against bushfire-prone mapping, which affects building rules and insurance.
Coastal and riverside locations
Near the coast and the Swan and Canning rivers, flood and erosion information is reviewed as part of due diligence.
What to watch in Perth in 2026 and 2027
- The resources cycle. Perth's market still moves with mining. Commodity prices and resources investment affect jobs, migration and confidence across the city.
- Momentum. After rapid growth, prices are high relative to local incomes. With values falling in the September quarter, the question is whether this is a pause or the start of a longer flat period.
- METRONET. New rail lines, including the Airport and Ellenbrook lines, have improved access to parts of the outer suburbs. Proximity to the new stations is worth checking.
- The 2027 tax changes. From 1 July 2027, net rental losses on established homes bought after 7:30pm AEST on 12 May 2026 can no longer reduce tax on your salary; new builds keep negative gearing. The 50% capital gains discount is also being replaced by indexation for gains after that date. Read what the negative gearing reform means.
Buying costs for investors in WA
Stamp duty is the biggest upfront cost after your deposit. At 2026-27 general rates, transfer duty on an investment property in WA is:
| Purchase price | Stamp duty |
|---|---|
| $600,000 | $22,515 |
| $800,000 | $32,316 |
| $1,000,000 | $42,616 |
Add legal and conveyancing fees, building and pest inspections, loan costs and lenders mortgage insurance if you borrow more than 80%. Land tax may apply each year depending on the land value you hold in WA. Estimate them in the WA stamp duty calculator, the purchase cost calculator and the land tax calculator.
Is Perth a good place to invest in 2026?
Perth's fundamentals have been among the strongest in the country: tight rentals, population growth and an economy backed by resources. After five years of rapid growth, though, buyers are paying far more than they were, values fell in the September quarter, and Perth booms have historically been followed by long flat periods. It can still suit investors who buy well-located houses with land at a sensible price and plan to hold through the cycle.
Perth may suit you if
- You want exposure to a resources-driven economy with tight rentals.
- You're buying a house with land in an established or well-connected suburb.
- You can hold through a flat period if growth slows.
Think carefully if
- You're chasing the suburbs that have already risen the most.
- Your plan depends on short-term growth.
- The property is in a high-supply estate with many similar homes.
We don’t start with a city. We start with your budget, borrowing power and goals, then test Perth against every market that fits, down to the suburb, street and property. See how we buy in Perth as a buyers agent, or book a free discovery call.
Sources
- Cotality Home Value Index, October 2026 release (values to 30 September 2026)
- Cotality Monthly Housing Chart Pack, September 2026 (rents to August 2026)
- SQM Research, residential vacancy rates, September 2026
- HtAG Analytics, council-area typical values and rents, to 30 September 2026
- WA revenue office, 2026-27 transfer duty rates
Figures can be revised, and different data providers measure prices differently, so their numbers won’t always match. General information only: it doesn’t consider your circumstances, isn’t financial, tax or legal advice, and isn’t a forecast.
How it works
From first call to keys in hand
- 01
Strategy · Free
Discovery call
- 02
Strategy
Strategy session
- 03
Strategy
Strategic brief
- 04
Acquisition
Research and selection
- 05
Acquisition
Negotiation and due diligence
- 06
Acquisition
Settlement and handover
4.9 from 100+ Google reviews
What clients say about working with us
Really knows his stuff
“My property's value has gone up by over 20% while generating really good rental return even with rising interest rates. Mossy really knows his stuff, he helped me immensely. I definitely recommend having a chat with him!”
Gary Anderson
Supported every step
“My partner and I felt supported and secure every step of the way in our buying journey with Rising Returns totally exceeding our expectation. Not to mention the invaluable amount of knowledge gained about property and investing in the process. Would highly recommend!”
Chloe Lawson
Is Perth a good place to invest in property in 2026?
What is the median house price in Perth?
How much have property prices grown in Perth?
What rental yield can you get in Perth?
What is the rental vacancy rate in Perth?
Should you buy a house or a unit in Perth?
How much is stamp duty on an investment property in Perth?
Can I buy an investment property in Perth if I don't live there?
How much money do I need to start?
You need a minimum of $100,000 in cash or equity, and our minimum purchase price is $400,000.
Should I buy now or should I wait?
It depends on your finances, borrowing capacity and goals more than on timing the market. Waiting has a cost if well-chosen property keeps rising, and buying has risks if it stretches your finances. On the discovery call we look at your position and tell you honestly whether buying now makes sense for you.
What is the average price of the properties you buy?
We source properties from $400,000, our minimum purchase price. The final price depends on your personalised strategy and goals.
How long does the process take from the discovery call?
If you qualify to work with us, the next step will be a 45-minute Strategy Session with one of our advisors. From here, it takes 4 to 12 weeks from signing up to settlement, depending on your criteria, goals, and strategic brief.
Do you recommend accountants, brokers, property managers, lawyers, and tax agents?
Yes, we have recommendations for all of those partners. As part of our service, we find the right team for you, and your property depending on the location of the investment. We handle the admin so that this is seamless for you.
What happens if I don't like the property that you present?
Typically, this does not happen since we spend so much time at the start of the journey developing a plan and understanding your needs and how they will fit into your property portfolio. When we create a Strategic Brief, we are extremely clear about the results and do not deliver any properties that do not fit that brief. We typically look at 60 properties before we present the ONE to you. So you can be sure, we are sure.
Investment property in other cities
- Investment property Sydney
- Investment property Melbourne
- Investment property Brisbane
- Investment property Adelaide
- Investment property Canberra
- Investment property Gold Coast
- Investment property Sunshine Coast
- Investment property Newcastle
- Investment property Wollongong
- Investment property Geelong
- Investment property Hobart
- Investment property Darwin
- Investment property Townsville
- Investment property Cairns
Talk to us about investing in Perth
Free, no obligation. We will tell you honestly whether a buyers agent makes sense for you right now.