Should You Buy Property Now or Wait in Perth in 2026?
It’s the question I’m asked most often in Perth right now. With four rate rises this year and prices still well above where they were 12 months ago, it’s understandable that many buyers are sitting on the fence.
There’s no single right answer for everyone, but there is a right answer for you. Here’s what the Perth numbers say, what waiting could really cost, and how to decide.
Where the Perth market is right now
Prices are still up, but momentum is slowing. According to the Cotality Home Value Index (September 2026):
- Perth house values are up 10.0% over the past year, to a median of about $1.02 million
- Perth unit values are up 10.5%, to a median of about $714,000
- In September, Perth dwelling values fell 1.2% in a single month, the clearest sign yet of a cooling market
Buyers have more choice. REIWA reports 7,335 properties listed for sale at the end of August, up more than 146% on a year ago and the highest in over three years.
Rates are higher. The RBA has raised the cash rate four times in 2026, from 3.60% in January to 4.60% on 29 September, and has said it’s prepared to go further.
Renting is still expensive. Median rents are about $750 a week for houses and $700 a week for units, with vacancy around 2.1%.
In short, Perth has shifted from a frantic seller’s market to a more balanced one. That changes the “now or wait” question.
The case for buying now
- Less competition, more negotiating power.
For the past few years, Perth buyers were up against multiple offers, rising prices and homes selling within days. With listings more than doubling and prices dipping, buyers can now take their time, negotiate and include proper finance and building inspection conditions. - Government support is at its strongest.
- 5% Deposit Scheme: buy with a 5% deposit and no LMI, up to $850,000 in Perth
- WA stamp duty exemption: no stamp duty for first home buyers up to $600,000, with concessions up to $800,000 (from 7 May 2026)
- First Home Owner Grant: $10,000 for new homes valued up to $800,000
These settings can change, and the stamp duty concessions are among the most generous WA has offered.
- Every month of waiting means another month of rent.
At $700 a week, a year of renting a Perth unit costs about $36,400, none of which builds you equity. - You can refinance a rate, but you can’t renegotiate a price.
If rates fall later, you can refinance to a lower rate. If prices rise while you wait, that higher price stays with you for the life of the loan.
The case for waiting
- Rates may rise again. The RBA hasn’t ruled out further increases. Each 0.25% rise reduces your borrowing power and increases repayments, by about $105 a month on a $655,000 loan.
- Prices could soften further. September’s 1.2% monthly fall may continue. ANZ had forecast Perth growth slowing sharply to just 1.5% in 2027 as affordability bites. If prices drift lower, patient buyers may pay less.
- You may not be ready. Waiting is the right call if:
- your job or income is uncertain
- you’d have no savings buffer left after settlement
- you’re likely to move within 2 to 3 years
- your repayments would leave you financially stretched
What does waiting 12 months actually cost?
Here’s a Perth first home buyer purchasing a median-priced unit ($690,000, REIWA) with a 5% deposit under the 5% Deposit Scheme. This compares buying today with buying in 12 months under four price scenarios.
| Price in 12 months | Purchase price | 5% deposit | WA stamp duty | Upfront cash (deposit + duty) |
Monthly repayment at 6.60% |
|---|---|---|---|---|---|
| Falls 5% | $655,500 | $32,775 | $8,963 | $41,738 | $3,977 |
| Buy now | $690,000 | $34,500 | $14,535 | $49,035 | $4,186 |
| Rises 5% | $724,500 | $36,225 | $20,107 | $56,332 | $4,396 |
| Rises 10% | $759,000 | $37,950 | $25,679 | $63,629 | $4,605 |
What this shows:
- If prices rise 5%, waiting costs about $7,300 more upfront and about $210 a month more in repayments for the life of the loan.
- If prices fall 5%, waiting saves about $7,300 upfront and about $210 a month. Remember that you’ll have paid around $36,400 in rent during that year.
- Because of WA’s stamp duty taper, every $10,000 increase in price above $600,000 adds about $1,600 in stamp duty. Rising prices hit first home buyers twice.
- If rates rise another 0.25% while you wait, repayments on the buy-now loan would rise to $4,295 a month. That pressure applies whether you buy now or later.
An honest note: in the first year, a buyer pays about $43,000 in interest on a $655,500 loan, compared with $36,400 in rent, plus council rates, strata and insurance. Owning costs more in cash in year one. The difference is that the buyer also repays about $7,200 of the loan and owns any growth in the property’s value. Over 5 to 10 years, that’s where ownership typically pulls ahead.
So, should you buy now or wait?
Buying now may suit you if:
- you have a stable income and your deposit is ready
- your repayments would be comfortable even if rates rose another 0.5%
- you plan to stay in the property at least 5 years
- you qualify for the 5% Deposit Scheme, the stamp duty exemption or the First Home Owner Grant
Waiting may suit you if:
- your deposit or savings buffer isn’t there yet
- your employment is uncertain
- you’d be stretched to the limit on repayments
Nobody can reliably time the bottom of the market or the peak in interest rates. Most buyers who try end up waiting too long. What you can control is buying a property you can comfortably afford, with the right loan structure and a buffer for higher rates.
Your next step: a buying plan, not a guess
Whether you’re ready now or planning for 2027, the smartest move is knowing your numbers. That means your real borrowing power at today’s rates, which schemes and grants you qualify for, and how much cash you’ll need on settlement day.
At Financehub Co, we help Perth buyers build a clear plan before they commit. The chat is obligation-free.
📅 Book your home loan chat: www.financehubco.com.au
📞 Call Edy Hartono: 0452 520 430
✉️ Email: edy@financehubco.com.au
One Hub, One Stop Finance.
General information only. This article does not consider your personal objectives, financial situation or needs, and is not a forecast of future property prices or interest rates. Repayment figures are estimates assuming a 30-year principal and interest loan at 6.60%. Stamp duty figures use the WA first home owner rate from 7 May 2026. Market data from Cotality (September 2026) and REIWA (August 2026). All lending is subject to lender credit assessment and approval. Financehub Co (CRN 577025) operates under Australian Credit Licence 389328.
