RBA Raises Rates Again: What Does It Mean for Perth Homeowners and Buyers?
The Reserve Bank of Australia (RBA) has increased the cash rate again, lifting it by 0.25 basis points to 4.60% from 30 September 2026.
It’s the fourth rate increase this year, following rises in February, March and May.
For homeowners already managing higher repayments, and buyers trying to understand what they can afford, another increase can understandably create uncertainty.
But a rate rise doesn’t automatically mean you need to change your plans.
A better place to start is understanding what has actually changed for you.
What Does the Latest RBA Decision Mean?
The cash rate influences interest rates across the economy, including home loan rates.
However, individual lenders decide whether, when and how much of a cash rate movement they pass on to customers. That means the impact on your home loan will depend on your lender, loan type and individual circumstances.
In its September decision, the RBA said inflation remains elevated, with recent inflation outcomes stronger than expected. It also highlighted higher global energy prices due to the ongoing Middle East conflict, the global AI boom driving up prices and the weaker-than-expected supply capacity of the Australian economy.
Rather than trying to predict what the RBA will do next, it can be more useful to focus on the things within your control.
Already Have a Home Loan? It May Be Worth Understanding Where You Stand
When rates change, refinancing is often one of the first things people think about.
But a home loan review doesn’t automatically mean refinancing.
Sometimes the outcome of a review is simply knowing that your current loan still works well for you.
Depending on your circumstances, it may be worth looking at:
- Your current interest rate and repayments
- How your loan is structured
- Whether you’re making the most of an offset account or redraw facility
- Any fees or features attached to your loan
- Whether your income, expenses or longer-term plans have changed
A loan that suited you a few years ago may still be appropriate, or your circumstances may now look very different.
The important part is understanding what you have before deciding whether anything needs to change.
Buying Property? Check Your Borrowing Position Before Changing Your Plans
Higher interest rates can also affect how much someone is able to borrow.
Lenders assess whether borrowers can comfortably service a loan based on a range of factors, including income, existing debts, expenses and current interest rates.
If you had your borrowing capacity assessed earlier in the year, it might be worth checking whether anything has changed before making offers or significantly adjusting your property search.
This doesn’t necessarily mean your plans need to change. It simply gives you a clearer picture of where you stand in the current lending environment.
What’s Happening in the Perth Property Market?
The rate rise also comes as Perth’s property market begins to shift from the exceptionally tight conditions we’ve seen over the last few years.
According to REIWA, there were 7,804 properties listed for sale across Perth in the week ending 27 September 2026, compared with just 2,841 at the same time last year.
Recent quarterly figures have also shown some easing in prices. Perth’s median house sale price decreased 2% over the June 2026 quarter, now sitting at $956,000.
However, it’s important to keep that number in context: the median remained 18.7% higher than the June 2025 quarter.
So, while buyers may be seeing more properties available and some moderation in the market, conditions can still vary significantly between suburbs, property types and price ranges.
Should You Refinance After a Rate Rise?
Not necessarily.
Refinancing can make sense in some circumstances, but changing lenders can involve fees, paperwork and another lending assessment.
There may also be loan features or flexibility within your current setup that are important to you.
Rather than starting with “Should I refinance?”, it can be more useful to ask:
“Does my current home loan still suit my situation?”
That shifts the focus away from reacting to a rate announcement and towards looking at the full picture.
For some people, that review may uncover alternatives worth exploring. For others, it may confirm that staying exactly where they are still makes sense.
Focus on What You Can Control
Another rate rise may not be welcome news, particularly when households are already managing higher everyday costs and budgets are tightening.
But you don’t need to make financial decisions based on the headline alone. Here are a few practical things you can focus on:
- Understanding your current repayments and household cash flow
- Knowing the interest rate and features attached to your home loan
- Checking your borrowing capacity before making a property offer
- Reviewing whether your circumstances or goals have changed
- Asking questions if you’re unsure how the latest change affects you
Having clear information can make it much easier to decide what, if anything, needs to happen next.
Final Thoughts
Interest rates will continue to change over time, and so will property market conditions.
The September rate rise is another reminder that it can be useful to understand where you stand, but it isn’t a reason to rush into changing your home loan or property plans.
Whether you already have a mortgage, are considering refinancing or are thinking about buying in Perth, start with your own situation.
If you’d like to understand how the latest rate change may affect your home loan or borrowing position, the Ledge Home Loans team can help you work through your options clearly and without pressure.