Perth Property Is Booming, But the Data You’re Reading Is Already 6–8 Weeks Old

There’s a lot of noise around the Perth property market right now. Scroll social media for five minutes and you’ll see claims like:

“Perth property is red hot.”

“Perth prices will keep climbing for the next 12 months.”

“The boom’s nowhere near over.”

Maybe. No one has a crystal ball. But before accepting these statements at face value, the question to ask is – based on what data? Because chances are, it’s out of date. 

What Perth Property Market Data Is Really Telling Us

Most commentary around the Perth property market forecast relies on data from sources like:

  • PropTrack
  • CoreLogic
  • APM PriceFinder
  • REIWA

These platforms are fed largely by settled sales data and a property settling today was usually negotiated six to eight weeks prior.

So, useful for understanding where the market has been. Less so for where it is right now.

What the Settled Data Shows

Based on settled transactions across Western Australia:

  • Dwelling values rose 7.3% in the last quarter
  • Dwelling values rose 24.3% over the last year
  • Rolling 28-day growth rate sits at 2.2% (April 2026)

Good numbers, but they’re up to two months old. In a steadily rising market, that lag may not matter much. But when conditions are changing, historical data can be out of touch very quickly. By the time a shift shows up in settled sales, the sentiment driving it has already shifted.

So What Factors Can We Look At?

Unfortunately, there’s no live registry of buyer and seller sentiment. Instead, we need to look at the factors that shape behaviour and we’re currently facing some major ones.

  • Interest rates:
    The RBA has lifted rates twice in two months, reducing borrowing capacity and affordability with talk of more rises this year. For buyers already near their limit, even modest rate increases can materially reduce purchasing power.
  • Global instability:
    The war in the Middle East and subsequent pressure on oil prices has disrupted markets globally and added uncertainty to economies. In property, confidence matters and uncertainty tends to make buyers and investors more cautious.
  • Tax policy uncertainty:
    As early as February, the Prime Minister flagged that Capital Gains Tax and negative gearing changes are being modelled for consideration in the May Budget. Even before policy changes are confirmed, speculation alone can influence investor behaviour.

The Shift Is Starting to Show

At Xceed, we’ve started to see two things anecdotally, but consistently.

  1. Many Perth property investors are moving to sell ahead of potential changes to CGT.
  2. Buyer numbers have dipped, and negotiation behaviour has become less aggressive. 

These are often the kinds of behavioural shifts that emerge before broader price growth begins to self-correct. Markets rarely reverse all at once they soften at the edges first. 

REIWA’s own Perth property market figures are beginning to reflect this:

  • Sales transactions down 17.2% week-on-week
  • Listings up to 3,669, from 2,427 in January

All up, not a crash signal, but it does point to rising supply and easing demand. 

So Is the Perth Boom Over?

Well, not yet. The Perth property data referenced here is current at 16 April 2026. Markets can move quickly. We saw that in 2024–25, when anticipated softness reversed after rate cuts. Anyone watching property knows that markets can speed up, slow down and plateau at any time. So no single indicator should be looked at in isolation.

That said, if current settings remain in place, there’s a real argument to be made that the Perth housing market is entering the final stages of its growth cycle. 

What Property Owners Should Do

As always, property decisions should be framed around your 5-10 year plan.

If you’re holding long-term, none of this may matter very much.

But if selling was already part of your plan in the next 12–24 months, it may be worth reassessing sooner rather than later.

As we’ve seen, markets don’t ring a bell when they’ve hit their peak and by the time the data confirms it, the window has usually passed.

Need a real-time read?

If you want an appraisal based on current buyer behaviour, live market feedback and what we’re seeing on the ground, above and beyond historical sales data, our team can give you a read.