Affordability, accessibility and availability to drive the market in 2026 

As seen in The West Real Estate

The key factors driving the market in 2026 will be affordability, accessibility, and availability. 

WA property prices have recorded several years of very strong growth. In Perth, the median house sale price rose 25 per cent in 2024, rising a further 12 per cent over 2025. The median unit sale price rose 21.7 per cent in 2024 and 18 per cent last year. 

Entering the market has become more difficult for first home buyers. They need to save larger deposits, which takes time, and secure bigger loans to buy a home. People who already have a home have to significantly extend their mortgage if they want to upgrade. 

As affordability declines, you often see demand ease and price growth slow. However, a range of other factors can mitigate this. 

For example, there are a range of State and Federal Government schemes that aim to address affordability challenges. This includes the $10,000 First Home Owner Grant (FHOG), First Home Super Saver Scheme, Australian Government 5% Deposit Scheme; Help to Buy shared equity scheme; and a range of low-deposit loans and shared equity options via Keystart. The WA Government also offers stamp duty concessions for first home buyers. 

These schemes make home ownership more accessible, for example by reducing purchase costs or the need to spend years saving a large deposit. However, by improving accessibility you bring demand forward. This can either create, or maintain, upward pressure on prices, depending on the existing state of the market. Currently, accessibility measures are supporting existing strong price growth. 

I will note that, while they are adding to demand, there are checks and balances in most of these schemes. For example, the FHOG is only available to those who buy or build a new home, there is a price cap on the 5% deposit scheme, and strong price growth has eroded the relevance of stamp duty concessions. 

The final factor that will drive the market in 2026 is the availability of properties to purchase. In the past few years, homes came to market in reasonable numbers. They sold quickly, which kept the number of active listings relatively low. However, new listings in the established homes market have been significantly below long-term averages in the last six months. 

By comparison, demand has remained extremely high. We saw FOMO return to the market in the latter part of 2025, with our members reporting strong competition for homes. The significant imbalance between demand and supply saw active listings fall to below 2,000 at the end of December. This lack of supply is also driving price growth, and unless conditions change, we can expect this to continue into 2026. 

Suzanne Brown
REIWA President