Real Estate Institute of WA figures ‘indicate Perth’s median house could increase by 20 per cent in 2026’

Perth’s median house price is on track to jump by a whopping 20 per cent this year — the equivalent of almost $500 a day — according to WA’s peak industry body.

The Real Estate Institute of WA’s latest quarterly figures show Perth’s median house price is now $890,000, representing a $35,000 increase since December.

And should the trend continue, prices could skyrocket in 2026, according to REIWA, which has flagged the potential for a 20 per cent increase in house prices. The increase would see Perth’s median house price surpass the $1 million mark for the first time.

Units have increased by an average of $35,000 to a median price of $635,000 since December and could increase by the equivalent of at least $350 a day if the trend continues.

“Most of the March quarter was characterised by lower-than-average new listings and consistently strong demand, which saw dwellings sell in record timeframes and price growth accelerate,” she said.

“If these trends were to continue through 2026, median sale price growth for houses could reach 20 per cent, while units could exceed 20 per cent growth.”

But Ms Brown said that it was possible price rises could still slow due to an increase in real estate listings in March and April. This, she said, had led to quieter home opens and fewer offers on properties.

Though listings have increased, sellers are still shyer than they were two years ago with Perth recording almost 1000 fewer listings in April 2026 compared with the same period in 2023.

“It is good to see Perth’s listings logjam ease but I will note that new listings are still below long-term averages, so this is not a significant increase in supply,” Ms Brown said.

Whether the increase in listings will temper Perth’s house prices is up for debate, with experts split on whether the housing market is slowing down.

While other analysts maintain values will continue to rise — with periods of stabilisation — over the rest of the year, valuations expert Gavin Hegney said a recent bump in listings showed that a significant number of investors were seeking to cash out of the market.

Mr Hegney predicted that less desirable homes in areas where there had been heavy investment — like Armadale — would likely fall in value.

“Some areas where investors outbid owner occupiers are the areas most at risk when investors stop buying,” he said.

“It will leave owner occupiers to determine the price.”

Property commentator and former president of the Real Estate Institute of WA, Damian Collins, said that WA remained “significantly undersupplied” for properties and expected prices would continue to rise.