Perth house prices fall $100,000 as buyers spot an opening
Perth median price dropped to $942,018 from over $1 million in April, with banks predicting further 18% decline.
Perth's median house price has fallen nearly $100,000 in just three months, dropping to $942,018 from its April peak above $1 million. The Commonwealth Bank today forecast prices could plunge another 18 per cent before stabilising in mid-2027.
For Vanessa Bray, a single mum searching four years for a family home, the shift feels transformative. "I can't even begin to describe the relief," she said.
"It's close. I feel like it will happen instead of the despair that it was never going to happen."
Bray needs to stay under $850,000 to access the state's Help to Buy scheme. A Perth real estate agent warned buyers not to get ahead of themselves, noting the market still reflects only a modest dent in a decade of extreme rises.
- $942,018
- Current median price
- Nearly $100,000
- Three-month drop
- 18%
- Predicted further decline
- $850,000
- Help to Buy scheme cap
Why it mattersLower prices give first-time buyers a real chance to enter the market after years locked out by rapid growth.
AustraliaPerth buyers, especially those using government schemes, now face better odds of purchasing a home as prices ease toward more affordable levels.
