More Choice for Perth Home Buyers: What a Changing Property Market Means for Your Finance
Perth home buyers may finally be getting a little more breathing room.
After an extended period of very low stock levels and intense competition, more properties are coming onto the market. By late July 2026, the number of properties listed for sale across Perth was more than double the level recorded a year earlier.
At the same time, property prices remain high and conditions continue to vary significantly between suburbs, property types and price points.
For buyers, this creates a different kind of market. There may be more opportunity to compare properties and make considered decisions, but being financially prepared remains just as important.
More properties are coming to market
Perth’s property market has started to move towards more balanced conditions after several years characterised by strong demand and limited supply.
An increase in listings can give buyers more choice and potentially more time to assess a property before making an offer.
However, greater choice does not automatically mean lower prices or that every suburb has become a buyer’s market.
Demand remains strong in many parts of Perth, and properties that are well located, appropriately priced or in highly sought-after areas may still attract significant competition.
The important thing for buyers is to understand both the property market and their own financial position before they start negotiating.
Check whether your pre-approval is still current
If you have been looking for a property for several months, it may be worth reviewing your finance before making an offer.
A pre-approval or borrowing estimate is based on your circumstances and the lender’s policies at a particular point in time.
Since then, things may have changed, including:
- interest rates
- lender serviceability requirements
- your income or employment
- household expenses
- credit card limits or other debts
- the price range you are considering.
Pre-approvals can also have expiry dates.
Checking your position again before making an offer can help you understand whether your original borrowing range still applies and whether there are any new lending requirements you need to consider.
Borrowing capacity and your comfortable budget are not the same thing
A lender may calculate how much you could potentially borrow based on its lending criteria, but that does not necessarily mean borrowing the maximum amount will suit your household.
Your own budget may also need to allow for:
- mortgage repayments
- council rates
- strata fees, where applicable
- insurance
- maintenance and repairs
- utilities and general living costs
- changes in interest rates or household expenses
- an emergency or savings buffer.
This is particularly important in a higher-priced property market.
Rather than starting with “What is the maximum I can borrow?”, it can be useful to also ask:
“What level of repayment would feel manageable for us?”
That can help establish a more realistic property search range before you become emotionally invested in a particular home.
More choice can give you time to compare the finance too
When property competition is extremely high, buyers can understandably feel pressure to move quickly.
A market with more available stock may provide an opportunity to be more considered—not only about the property you choose, but also about how you finance it.
Different lenders have different:
- interest rates and fees
- serviceability calculations
- lending policies
- deposit requirements
- treatment of different income types
- offset and redraw options
- fixed and variable rate products.
The lender or loan structure that suited you when you first started searching may not necessarily remain the most appropriate option several months later.
A mortgage broker can compare options across a range of lenders and help you understand how different loan structures may apply to your circumstances.
Think about your deposit and upfront costs
Your deposit is only one part of the money required to purchase a property. Depending on your circumstances, you may also need to allow for costs such as:
- transfer duty
- settlement and conveyancing costs
- building and pest inspections
- lender or valuation fees
- moving expenses
- insurance
- an initial cash buffer after settlement.
Some eligible buyers may be able to access government schemes or concessions that reduce the deposit or upfront costs required, but eligibility requirements apply and finance approval is still subject to lender criteria.
Understanding these costs early can help avoid stretching your available savings too far when it comes time to settle.
Buying an investment property? Review your position again
Investors also need to consider current lender policies and borrowing conditions.
Changes to interest rates, expenses, existing debt and the way lenders assess rental income can affect borrowing capacity.
If you received an investment borrowing estimate some time ago, it may be worth having it reviewed before relying on it for a new purchase.
Your accountant or financial adviser can also help you understand the tax and broader financial implications of an investment property decision, while your mortgage broker can assist with lending options and loan structure.
Preparation still gives buyers an advantage
Having more homes to choose from is welcome news for Perth buyers, particularly after several years of exceptionally tight supply. But a more balanced property market doesn’t remove the need for preparation.
Before making an offer, it can help to know:
- how much you may be able to borrow
- what repayment level is comfortable for you
- whether your pre-approval is current
- how much deposit and cash you will need
- what conditions may apply to your finance
- how quickly your lender may be able to proceed.
The goal is not necessarily to borrow the most or move the fastest.
It is to put yourself in a position to make a confident and informed decision when the right property comes along.
Thinking about buying a home in Perth?
The Ledge Home Loans team can review your borrowing position, compare lending options and help you understand what to have in place before you start making offers.
Speak with the Ledge Home Loans team.
Frequently Asked Questions
Is Perth becoming a buyer’s market?
Perth has significantly more properties available for sale than it did a year ago, giving buyers greater choice. However, conditions vary by suburb, property type and price range, and strong competition may still exist for particular properties.
How long does home loan pre-approval last?
This varies between lenders, but pre-approvals are generally valid for a limited period. Your circumstances and the lender’s policies may also change during that time, so it is worth checking your approval if your property search has taken several months.
Should I borrow the maximum amount a lender offers me?
Not necessarily. A lender’s borrowing-capacity calculation is based on its serviceability criteria. Your own comfortable budget should also account for your lifestyle, financial goals, ongoing property costs and a buffer for unexpected expenses.
Should I speak with a mortgage broker before attending home opens?
You don't have to, but understanding your borrowing position before becoming serious about a property can make the buying process easier. It can help you establish a realistic price range, understand your deposit requirements and identify any finance issues early.
Can different lenders give me different borrowing amounts?
Yes. Lenders can use different serviceability calculations, policies and approaches to income, expenses and existing commitments. This means your borrowing capacity may vary between lenders.