Thinking About Buying in Perth Right Now? Here’s What to Consider
If you’re thinking about buying in Perth right now, you’re probably hearing a lot of mixed messages.
Interest rates have risen again, the cost of living is still front of mind for many households, there are concerns about the impact of global events and oil shortages, and Perth property prices have continued to push higher. At the same time, Perth remained the fastest-growing capital city markets.
It’s easy to feel like there should be a clear answer on whether now is a “good” time to buy. In reality, there isn’t a one-size-fits-all answer.
A better question is: what makes sense for your situation right now?
Here are a few things worth thinking about before making a move.
Your Timing vs the Market
It’s easy to get caught up in headlines about rising prices, interest rates or buyer demand, but trying to perfectly time it is rarely the most helpful starting point.
The right time to buy often has more to do with your situation than the market headlines.
That might include your job stability, savings, how long you plan to hold onto the property, and whether you feel ready for the costs and responsibilities that come with buying.
Perth has seen strong price growth over the past year, although there are early signs that activity is starting to level out (based on recent data from REIWA and market reports).
In other words, the market is still active — but that doesn’t mean you need to rush.
Borrowing Capacity Has Changed
One of the biggest shifts over the past couple of years has been borrowing power.
What you may have been able to borrow one or two years ago may not be the same today. Interest rates, lending policies and cost-of-living considerations all play a role in how lenders assess your position.
This is where many people get caught out.
It’s common to start looking at properties first, only to realise later that borrowing capacity looks different in the current environment.
Taking the time to understand your position early can help you move forward with more clarity and avoid unnecessary stress later in the process.
Getting “Fit for Finance”
Before buying, it can help to get your finances into the best shape possible.
This might include:
- Reviewing your spending habits
- Reducing unnecessary debt
- Avoiding new credit applications
- Keeping your banking consistent
It doesn’t need to be perfect, but consistency matters.
This is something many people don’t realise until they’re already in the process.
From a lender’s perspective, clear and stable financial behaviour makes it easier to assess your application and can help the process move more smoothly.
And while every lender has different policies, being organised early can make a real difference to how straightforward the process feels.
What You’re Buying For
Your goal should shape your decision — not just what the market is doing.
If you’re buying a home to live in, your focus may be on lifestyle, stability, location and finding something that suits your needs over the coming years.
If you’re buying as an investor, your thinking may be more focused on long-term strategy, rental demand, cash flow, maintenance and how the property fits into your broader financial plans.
Perth’s property market in 2026 is predicted to remain tight, with REIWA’s 2026 market forecast pointing to continued price growth across both the sales and rental markets, supply shortages and high demand.
This makes it even more important to look at the full picture. For owner-occupiers, that may reinforce the appeal of stability. For investors, it may reinforce the importance of understanding the full picture rather than looking at one number in isolation.
Having the Right Support Around You
Buying property can involve more moving parts than many people expect.
From understanding your borrowing position, to navigating contracts, timelines and settlement, there’s a lot happening behind the scenes.
Depending on your situation, having someone walk you through the process can make a big difference.
That might include a broker, conveyancer, accountant, buyer’s agent or other trusted professionals who can guide you through the process and help you understand your options clearly and without pressure so you can move forward with more confidence with whatever you decide.
Final Thoughts
Perth remains a market many people are watching closely. Prices have continued to rise, borrowing conditions have changed, and the broader economic environment is evolving.
But buying well isn’t about reacting to every headline.
It’s about understanding your position, knowing what you’re working towards, and making decisions that suit your life and goals.
If you’re thinking about buying, or just want to understand where you stand, we can help you figure out what makes sense for you.