Perth is Australia’s most affordable major capital city. Despite strong price growth in 2023–25, the median dwelling price in Greater Perth in April 2026 is approximately $780,000 for houses and $510,000 for units. A single buyer targeting the median Perth house needs approximately $115,000–$140,000 gross per year.
Perth Median Property Prices (April 2026)
| Property type | Approximate median price |
|---|---|
| Houses — Greater Perth | ~$780,000 |
| Units — Greater Perth | ~$510,000 |
| Houses — Inner Perth (≤10km) | ~$1,200,000–$2,000,000+ |
| Houses — Middle ring (10–20km) | ~$800,000–$1,200,000 |
| Houses — Outer ring (20–40km) | ~$550,000–$800,000 |
| Units — Metro areas | ~$400,000–$600,000 |
Approximate estimates based on CoreLogic and REIWA data at April 2026. Perth experienced significant price growth of 50–70% from 2022 to 2025 driven by population growth and a commodities boom.
Income Required by Property Type
| Property type | Price (est.) | 20% deposit | Loan | Monthly repayment (6%) | Income needed |
|---|---|---|---|---|---|
| Perth median house | $780,000 | $156,000 | $624,000 | $3,741 | ~$115,000–$140,000 |
| Perth median unit | $510,000 | $102,000 | $408,000 | $2,445 | ~$80,000–$95,000 |
| Inner Perth house (~$1.3M) | $1,300,000 | $260,000 | $1,040,000 | $6,235 | ~$190,000–$220,000 |
| Middle ring house (~$900k) | $900,000 | $180,000 | $720,000 | $4,316 | ~$135,000–$160,000 |
| Outer suburb house (~$600k) | $600,000 | $120,000 | $480,000 | $2,878 | ~$90,000–$110,000 |
Perth Affordability by Suburb Tier
Inner Perth (≤10km from CBD)
Suburbs: Subiaco, Nedlands, Claremont, South Perth, Como, East Perth, Cottesloe, Fremantle
- Median house price: $1,200,000–$2,200,000+
- Income required (single): $185,000–$330,000+
- Income required (couple): $240,000–$400,000+
Middle Ring (10–20km)
Suburbs: Stirling, Joondalup, Morley, Cannington, Rockingham (closer areas), Bayswater
- Median house price: $700,000–$1,100,000
- Income required (single): $110,000–$170,000
- Income required (couple): $145,000–$215,000
Outer Ring (20–40km)
Suburbs: Baldivis, Ellenbrook, Alkimos, Butler, Armadale, Byford
- Median house price: $500,000–$750,000
- Income required (single): $80,000–$115,000
- Income required (couple): $110,000–$155,000
- This is Perth’s most accessible market and includes many new estates.
Why Perth Offers the Best Value of Any Major Capital
Despite substantial price rises since 2022, Perth remains the most affordable of Australia’s five major capitals:
| City | Median house price | Income to buy (single, est.) |
|---|---|---|
| Perth | ~$780,000 | ~$115,000–$140,000 |
| Adelaide | ~$770,000 | ~$115,000–$140,000 |
| Brisbane | ~$900,000 | ~$135,000–$160,000 |
| Melbourne | ~$940,000 | ~$140,000–$165,000 |
| Sydney | ~$1,450,000 | ~$220,000–$260,000 |
Perth’s price-to-income ratio remains lower than east coast capitals, offering meaningful purchasing power for buyers with $80,000–$120,000 incomes.
First Home Buyer Concessions in Western Australia
| Concession | Detail |
|---|---|
| Stamp duty exemption | Properties up to $430,000 for FHBs |
| Stamp duty concession | $430,001–$530,000 (50% concession) |
| First Home Guarantee | Up to $600,000 in WA (5% deposit, no LMI) |
| First Home Owner Grant | $10,000 for new builds |
Strategic note: WA’s FHB stamp duty exemption threshold ($430,000) is now below the Perth median unit price ($510,000) and well below the house median ($780,000). Most FHBs at the median will pay at least partial stamp duty. The First Home Guarantee cap of $600,000 in WA limits its usefulness for buyers at the Perth median.
Deposit Requirements in Perth
| Purchase price | 20% deposit | Stamp duty (WA, non-FHB) | Total savings needed |
|---|---|---|---|
| $600,000 | $120,000 | ~$20,090 | ~$143,000 |
| $700,000 | $140,000 | ~$24,090 | ~$167,000 |
| $780,000 | $156,000 | ~$27,290 | ~$187,000 |
| $900,000 | $180,000 | ~$32,490 | ~$216,000 |
Perth’s Property Market Drivers
Perth’s property market is closely tied to:
Resources and mining: Western Australia’s economy is driven by iron ore, gold, lithium, and natural gas exports. Employment in the resources sector (FIFO and metro) is a major income driver for Perth buyers.
Interstate migration: WA has attracted significant interstate migration from Victoria and NSW, drawn by affordability, lifestyle, and employment. This has tightened supply and driven price growth.
Low supply: Perth has had chronic undersupply relative to population growth, particularly in established suburbs. Construction is constrained by material and labour costs.
Interest rate sensitivity: Perth buyers tend to have high loan-to-value ratios relative to income. A falling RBA cash rate in 2025–26 has improved affordability at the margin.
FAQ
What income do you need to buy a house in Perth?
For the median Perth house (~$780,000) with a 20% deposit, approximately $115,000–$140,000 single income is required. Outer suburb houses at $550,000–$650,000 are achievable on $85,000–$110,000. Couples on $150,000–$170,000 combined are well-positioned for the Perth median.
Is Perth still affordable compared to the east coast?
Yes — despite strong price growth, Perth and Adelaide remain the most affordable major capitals. A single income of $100,000 can support meaningful property purchasing in Perth’s outer suburbs, which is not feasible in Sydney or Melbourne at the same income.
Should I buy now or wait in Perth?
Timing the market is inherently uncertain. Perth prices have risen strongly since 2022 and some analysts forecast a moderation. However, strong population growth and continued undersupply may sustain demand. For most buyers, purchasing when you’re financially ready is more reliable than trying to time the cycle.
Property prices are approximate, based on publicly available data at April 2026. For advice tailored to your situation, speak with a licensed mortgage broker. Find one through MoneySmart.