For several years, Perth’s property market operated under a simple rule: if you wanted to buy, you had to move quickly. Homes were being snapped up within days. Buyers were competing against multiple offers. Properties could attract strong interest shortly after hitting the market, and sellers often had the advantage in price negotiations. The Perth property market in 2026 is not suddenly a conventional buyer’s market where every seller is desperate, and every buyer can dictate terms. It is more nuanced than that. However, the data increasingly points towards a more balanced market, with:

• More stock available.
• Longer selling periods.
• Softer demand.
• Noticeable increase in vendor discounting.

The strongest evidence of change is not simply whether Perth house prices are falling. In fact, Perth has continued to record strong annual price growth by national standards. The bigger story is what is happening around the headline median. Properties are staying on the market longer.

• Buyers have more homes to compare.
• More sellers are accepting less than their original asking price.

The gap between what a vendor wants and what a buyer is prepared to pay is becoming a more important part of the negotiation. According to the latest REIWA data,

• Perth had 7,204 properties available for sale at the end of the week ending 23 August 2026, compared with 3,145 in the same week a year earlier.
• That represents a remarkable 129.1 per cent increase in total properties available for sale. Weekly sales stood at 630, compared with 793 during the corresponding week a year earlier.

This kind of change can alter the psychology of a property market. A buyer who once had to ask, “How much do I need to pay to secure this house?” can increasingly ask a different question: “What is this property actually worth to me, and what will the seller accept?” That is the beginning of bargaining power. And for Perth buyers, 2026 could be remembered as the year when the balance of negotiation started moving back towards the middle.

Whether you’re buying or selling, Trusted Real Estate Agents in Perth can help you achieve the best results.

The Great Perth Market Shift: From Scarcity to Choice

Before describing Perth as a buyer’s market, it is important to make one point clear. Perth is not experiencing the same type of correction as Sydney or Melbourne. Nationally, housing conditions have weakened during 2026. National home values fell 0.7 per cent in July, the largest monthly decline since December 2022. Sydney values fell 1.4 per cent, and Melbourne declined 1.2 per cent during the month, while Perth, however, entered the period from a much stronger position.

• REIWA reported that Perth’s median house sale price reached $938,000 at the end of June 2026, after preliminary quarterly growth of 4.2 per cent in the June quarter, following 5.3 per cent growth in the March quarter.
• The median unit price reached $675,000 after 4.7 per cent quarterly growth. PropTrack data showed Perth home values slipping only 0.2 per cent in July, while still recording 14.9 per cent annual growth, leaving Perth among the strongest-performing capital-city markets nationally.

So the Perth story is not: Prices are crashing, therefore buyers are in control. It is closer to: Price growth has lost momentum, supply has normalised, selling periods have lengthened, and buyers are gaining room to negotiate.

REIWA reported that active listings in Perth reached 6,718 at the end of July 2026, up 9.6 per cent from June and 101.9 per cent from July 2025. REIWA noted that listings had risen from fewer than 2,000 at the end of December 2025 to more than 6,000 during June and July 2026. By late August, the number had risen further, with 7,204 properties available for sale. The most important change in Perth is not the median price. During the height of the seller’s market, buyers often had very limited options. A buyer looking for a three-bedroom house in a particular suburb could find only a handful of suitable properties. If one appeared, there was pressure to act immediately.

• That scarcity created competition.
• Competition created urgency.
• Urgency strengthened the seller’s position.

The situation is now changing. Perth listings: the market has changed dramatically:

Indicator	2025/early 2026 environment	Mid–late 2026	What it means
Perth active listings	Below 2,000 at end-Dec 2025	6,718 at end-Jul	Much greater buyer choice
Perth properties for sale	3,145 a year earlier	7,204 week ending 23 Aug	+129.1% year-on-year
Perth house median sale time	9 days in Feb	23 days in Jul	Buyers have more time
Perth unit median sale time	8 days in Feb	19 days in Jul	Less urgency
Houses selling below listing	Around 1 in 10 late 2025	Around 3 in 10 in June	More room for negotiation
Perth house median price	$938,000 June	Market still strong	Cooling, rather than collapse

The change is striking because Perth has not experienced a sudden flood of newly built homes. Instead, the market is seeing a combination of:

• more normal levels of new listings;
• lower transaction activity;
• properties remaining on the market longer;
• buyers becoming more cautious;
• higher borrowing costs;
• sellers adjusting expectations;
• buyers gaining more alternatives.

That combination is powerful. A market does not need prices to crash before bargaining power shifts. Sometimes, time and choice are enough. A genuine buyer’s market generally occurs when the supply of properties for sale exceeds demand enough to give buyers a clear negotiating advantage. That can produce:

• longer selling periods;
• increased vendor discounting;
• more price reductions;
• fewer competing offers;
• increased willingness by sellers to negotiate;
• greater flexibility over settlement terms;
• more conditional offers;
• increased competition between sellers rather than buyers.

Perth is moving toward these conditions, but it is better described as more balanced and buyer-friendly than a full-blown buyer’s market across the entire metropolitan area. REIWA itself described Perth in August 2026 as transitioning towards more balanced conditions after several years of exceptionally strong growth and rapid sales. It means you shouldn’t assume every property is negotiable by 10 or 15 per cent.

When Australians talk about negotiating property, the conversation usually starts and ends with price. But experienced buyers know bargaining power isn’t just about getting a lower number. It can also mean negotiating:

• the purchase price;
• settlement period;
• deposit arrangements;
• finance conditions;
• building and pest conditions;
• inclusions;
• fixtures and fittings;
• repairs before settlement;
• settlement flexibility;
• access before settlement;
• sale conditions;
• timing of the transaction.

That is a completely different negotiation. The buyer is no longer negotiating from fear. The buyer is negotiating from information.

• In a hot seller’s market, the seller may say: “There are three other buyers interested. Take it or leave it.”
• In a softer market, the conversation can become: “If you can settle on this date, we may be able to move on the price.”

Read about: Did you overborrow on your mortgage? What could help you

The Biggest Signal: Three in Ten Perth Houses Were Selling Below the Listing Price

One of the clearest signs of changing bargaining conditions came from REIWA’s research into vendor discounting. In June 2026, three in 10 Perth houses sold for less than their listing price, according to REIWA. That compares with approximately one in 10 during the highly competitive conditions of late 2025 and early 2026. This is a major shift in market behaviour. Consider the difference.

• If 90 per cent of sellers are achieving at least their advertised price, a buyer who offers substantially below asking may have little chance.
• But when a significant proportion of sellers are already accepting less than their advertised price, the buyer has evidence that negotiation is becoming normal.

That does not mean every asking price is inflated. It does mean that the listing price should no longer automatically be treated as the final market value. And that is one of the most important lessons for Perth buyers in 2026. During a strong seller’s market, buyers often think in terms of premiums. The question becomes: “How much more do I have to offer?” In a more balanced market, the question changes. “How much negotiating room is there?” That does not mean making unrealistic offers. A lowball offer without evidence can still damage negotiations. Instead, buyers should build their bargaining position around data.

For example: Suppose a Perth property is advertised at $850,000. A buyer should not simply say: “I’ll give you $780,000.” That is an arbitrary discount. Instead, the buyer can investigate:

• recent comparable sales;
• the property’s land size;
• renovation quality;
• days on market;
• number of competing buyers;
• recent price reductions;
• comparable active listings;
• seller’s likely circumstances;
• suburb-level price trends;
• condition of the property;
• comparable properties currently available.

Suppose three comparable homes have recently sold for:

Comparable	Sale price
Property A	$805,000
Property B	$820,000
Property C	$835,000
Subject property asking price	$850,000

Now the buyer has an evidence-based argument. An offer around 810,000–825,000 may not be unreasonable depending on differences between the properties. The negotiation becomes: “Here is what comparable buyers have actually paid,” rather than: “I want a discount.” That is a much stronger position.

One of the most useful numbers for buyers is days on market. It is often more revealing than the asking price.

• A property listed for three days may have strong competition.
• A property listed for 45 days is a different negotiation.

REIWA reported that Perth houses sold in a median of 23 days in July 2026, up from 18 days in June and 10 days longer than a year earlier. Units took a median of 19 days, six days longer than in July 2025. Earlier in the year, houses sold in a median of only nine days in February, compared with 14 days in May. Perth median time to sell:

Period	Houses	Units
February 2026	9 days	8 days
May 2026	14 days	13 days
June 2026	18 days	18 days*
July 2026	23 days	19 days

When 15 people are at an inspection, and the agent says, “We already have strong interest,” the psychological response can differ greatly from walking through a home that has been available for 30 days with few competing buyers. More time allows a buyer to:

• inspect the property again;
• compare other homes;
• review recent sales;
• obtain building and pest inspections;
• check planning information;
• review strata documents where relevant;
• assess the property’s renovation needs;
• speak with a mortgage broker;
• negotiate more carefully;
• wait for a price adjustment;
• avoid emotional bidding.

This last point is particularly important. Property buyers make expensive decisions under emotional pressure. The changing Perth market can therefore improve decision quality, not merely price negotiation.

Perth Listings Have More Than Doubled

REIWA reported that active listings reached 6,718 in July, more than double the 2025 level. By the week ending 23 August, total properties available for sale reached 7,204, which was 129.1 per cent higher than a year earlier. That is a dramatic change in the supply-demand equation. Year-on-year Perth stock comparison:

Measure	August 2025	August 2026	Change
Properties available for sale	3,145	7,204	+129.1%
Weekly sales	793	630	-20.6%
Rental listings	2,234	2,083	-6.8%

This table reveals an important distinction. Sale stock has increased dramatically while weekly sales have been lower than a year earlier. That is exactly the type of environment in which buyers begin to gain leverage.

July 2026 data showed national home values falling 0.7 per cent during July, while annual growth slowed to 5.3 per cent. Sydney and Melbourne were the largest contributors to the decline, with monthly falls of 1.4 per cent and 1.2 per cent respectively. Perth’s growth, meanwhile, flattened compared with its earlier acceleration. Sydney values had fallen 1.2 per cent in June and Melbourne 1.0 per cent, while Perth continued to record growth. This divergence matters because Australian property is not one single market. In practical terms, there is no single national property market. There are:

• Perth;
• Sydney;
• Melbourne;
• Brisbane;
• Adelaide;
• Canberra;
• Hobart;
• Darwin;
• regional markets;
• individual suburbs;
• individual streets.

And even within Perth, two neighbouring suburbs can behave differently. Sydney and Melbourne vs Perth: Why the Difference Matters:

Market	2026 direction	Buyer implication
Sydney	Stronger correction	More bargaining opportunities
Melbourne	Softer conditions	Greater negotiating power
Perth	Strong annual growth but cooling	Increasing choice, but not universal buyer control
Brisbane	More resilient	Negotiation depends heavily on suburb
Adelaide	Relatively resilient	Less broad-based bargaining
Perth premium suburbs	Mixed	Price and property quality matter significantly
Perth outer/middle markets	More varied	Greater opportunity on selected stock

Sydney and Melbourne are under greater pressure than Perth. For Perth buyers, this creates an unusual situation. You can have: nationally weaker conditions + a cooling Perth market + still-strong annual Perth price growth. That combination is why buyers should avoid assuming that every property can suddenly be bought at a huge discount.

The most important Perth property trend of 2026 may be the increasing importance of suburb-level negotiation. The question is no longer: “Is Perth a buyer’s market?” A better question is: “Which Perth suburbs and which types of properties are becoming buyer-friendly?” Consider the difference between a premium coastal suburb and an affordable outer metropolitan suburb.

• REIWA’s 2026 data shows just how wide Perth’s price spectrum has become. For the year to June 2026, 31 Perth suburbs had median house prices above $2 million.
• Peppermint Grove reached $6.575 million, while City Beach and Dalkeith were both at $4.1 million. Cottesloe was around $3.355 million in that dataset.
• Meanwhile, Armadale’s current 12-month median house price to July 2026 was around $696,000, according to REIWA.

That is a massive spread. So a blanket statement such as “Perth is becoming a buyer’s market” is too broad.

A. Suburb Example 1: Armadale — The Affordability Conversation

REIWA’s latest suburb profile puts the median house price at approximately $696,000, with three-bedroom houses around $680,000 and four-bedroom houses around $751,000. The median house time on market is around 19 days. For a first-home buyer, this creates a very different decision framework than buying in a premium suburb. Suppose a three-bedroom home is listed around $700,000. The buyer should examine:

• whether comparable properties have sold below $700,000;
• how long the property has been listed;
• whether the asking price has changed;
• whether the home needs repairs;
• whether there are competing buyers;
• whether similar homes are available nearby.

If five comparable homes are available at similar prices, the buyer’s bargaining position is stronger. If only one renovated home sits on a large block in a desirable pocket, the bargaining position may remain limited.

B. Suburb Example 2: Victoria Park — When Location Supports Pricing Power

REIWA’s latest profile shows a median house price of about $1.177 million for the 12 months to July 2026, with a median house selling time of 20 days. This is a tightly located inner-suburban market, close to Perth’s CBD and with established amenity. A buyer negotiating here needs to distinguish between:

• a generic property;
• a renovated property;
• a development site;
• a character home;
• a property with exceptional land;
• a property in a highly desirable micro-location.

A buyer may have more leverage than during the 2025 frenzy, but scarcity can still support prices for the best properties.

C. Suburb Example 3: Cottesloe — Cooling Does Not Mean Cheap

REIWA’s latest data places the suburb’s median house price at approximately $3.505 million, with a 9.5 per cent annual sales-price growth figure in its current profile. The suburb’s price structure is fundamentally different from the affordable end of the Perth market. A buyer considering a $3 million-plus property should not use Perth’s overall median as the main negotiation benchmark. Instead, the buyer needs to examine:

• recent sales of comparable homes;
• land size;
• ocean proximity;
• views;
• renovation quality;
• development potential;
• street position;
• architectural quality;
• holding costs;
• vendor circumstances.

A high-value property that has been sitting for an extended period may provide a substantial negotiation opportunity. But an exceptional property can still attract wealthy buyers who are less sensitive to interest rates.

D. Suburb Example 4: Joondalup — Middle-Market Buyers Have Choices

REIWA’s current profile places the median house price around $1 million, with three-bedroom houses around $930,000 and four-bedroom houses around $1.11 million. This price segment is important because it sits between many first-home buyers and higher-end purchasers. Here, buyers can compare:

• established homes;
• newer homes;
• units;
• townhouses;
• homes in surrounding suburbs;
• properties closer to transport and amenities.

When several similar properties compete for the same buyer, sellers have to be more realistic. That is where negotiation starts to matter.

To understand bargaining power, it helps to understand what is happening on the other side of the negotiation.

• A seller doesn’t necessarily become flexible just because the market has changed.
• Some sellers still believe their property is worth what the market paid six months earlier.

Others may have purchased another property and need to sell.

• Some may have refinanced.
• Some may be downsizing.
• Some may be relocating.
• Some may be investors.
• Some may have no urgency at all.

This means the same $900,000 property can have completely different negotiation potential depending on the vendor. A seller who:

• has already purchased elsewhere;
• has been on the market for 60 days;
• has reduced the asking price;
• has had several failed campaigns;
• is paying two mortgages;
• is relocating interstate;

may have much greater incentive to negotiate. A seller who:

• has no mortgage;
• is not in a hurry;
• has multiple interested buyers;
• has a highly desirable property;

This is why buyers should try to understand the seller’s motivation without making assumptions.

One of the biggest mistakes buyers can make in a softer market is assuming that every property is now “cheap”. It is not. A buyer with bargaining power still needs to make credible offers. A sensible negotiation strategy can look like this:

• Step 1: Establish market value- look at comparable settled sales rather than just asking prices.
• Step 2: Assess the property itself- consider condition, land, layout, orientation, parking, renovation and location.
• Step 3: Study the listing history- has the property been advertised for two days or two months?
• Step 4: Understand competing supply- How many similar properties are currently available?
• Step 5: Identify the vendor’s position- Are there signs of urgency?
• Step 6: Set a walk-away price- know your maximum before negotiations become emotional.
• Step 7: Make a defensible offer- explain the reasoning where appropriate.
• Step 8: Be prepared to walk away- the strongest negotiation tool is sometimes the ability to say: “Thank you, but that price doesn’t work for us.”

A practical way to negotiate in the 2026 market is to compare at least three relevant properties. For example:

Property	Asking price	Days listed	Condition	Buyer assessment
A	$850,000	7	Renovated	Strong competition
B	$835,000	32	Good	Negotiation candidate
C	$820,000	48	Needs work	Strongest bargaining opportunity

If Property B is your preferred option, Property C becomes useful evidence. You can ask: “Why should I pay $835,000 for Property B when a similar property is available at $820,000?” The seller may have a good answer.

• Property B may have a better kitchen.
• Perhaps its land is larger.
• It may have a better school catchment.
• Perhaps it has a renovated bathroom.

The point is not necessarily to force the seller down. The point is to make the negotiation evidence-based.

Why Higher Mortgage Costs Reduce Buyer Competition

The property market is inseparable from borrowing costs. The Reserve Bank of Australia left the cash rate unchanged at 4.35 per cent at its August 2026 meeting, following three increases earlier in the year totalling 75 basis points. The RBA’s August Statement on Monetary Policy said inflation remained too high and that spending would need to slow. It also noted that housing prices had declined noticeably and that the earlier interest-rate increases were still working through the economy. For property buyers, the important issue is not simply the cash rate. It is the effect on borrowing capacity. A buyer who could previously afford a $1 million property may now be more comfortable at $850,000 or $900,000 depending on their income, debt commitments, deposit and loan structure. Imagine two buyers.

• Buyer A: Maximum borrowing capacity: $900,000
• Buyer B: Maximum borrowing capacity: $1.05 million

If mortgage rates rise or household budgets tighten, Buyer B may reduce their target to $950,000. 

Now the seller of a $1 million property has fewer potential buyers. If several buyers make the same adjustment, demand for the upper end of the market weakens. That can eventually affect:

• auction competition;
• private treaty offers;
• price expectations;
• days on market;
• vendor discounting.

This is one reason why property markets often respond to interest rates with a lag. The RBA has not declared victory on inflation. As of August 2026, the cash rate remains at 4.35 per cent, and the central bank says inflation is still too high. The August Statement on Monetary Policy expects inflation to return to the middle of the 2–3 per cent target range only in early 2028. 

A buyer should not build their purchasing strategy around the assumption that interest rates will definitely fall soon. Equally, they should not assume rates will necessarily rise again. The sensible approach is to assess affordability based on the loan repayment they can comfortably manage today, with a buffer for future changes. Australia’s labour market has also shown signs of cooling.

• The unemployment rate reached 4.5 per cent in July 2026, close to a five-year high, while employment fell by 15,800 during the month.
• For the property market, employment matters because buying a home depends on household confidence and borrowing capacity.

When people feel secure about their income, they are more willing to commit to a mortgage. When uncertainty rises, buyers may:

• delay purchasing;
• reduce their budget;
• choose cheaper suburbs;
• favour units over houses;
• demand stronger discounts;
• increase their cash buffer.

This can reinforce a shift towards more balanced market conditions.

The 2026 market also has a significant policy element. The expanded Australian Government 5% Deposit Scheme allows eligible first-home buyers to purchase with a minimum 5 per cent deposit, without paying Lenders Mortgage Insurance, subject to scheme eligibility and lending approval. Eligible single parents or legal guardians can access the scheme with a 2% deposit. Under the current framework, the scheme has no income caps and no waiting list. The Federal Government’s 2026 Homes for Australia plan also highlights the expanded 5% Deposit Scheme’s role in reducing the deposit hurdle for first-home buyers. This matters in Perth because median house prices have risen considerably.

• Saving a 20 per cent deposit on a $900,000 property means: $180,000.
• A 5 per cent deposit is: $45,000.

That is still a substantial amount, but the difference is enormous. The 5% Deposit Scheme does not necessarily create unlimited additional demand.

• Treasury modelling estimated that the expansion would bring forward some purchases and create additional first-home buyer purchases.
• Still, its overall effect on the national housing market was expected to be modest relative to total annual property transactions. The scheme may help a household buy sooner.

But it does not automatically mean that every Perth property will experience a bidding war. In a market with rising listings and weaker demand, first-home buyers can still benefit from government support while also negotiating with sellers.

First-Home Buyers Should Not Confuse Deposit Capacity With Affordability

Having a 5 per cent deposit does not mean a buyer should purchase the most expensive property a lender will approve. A buyer must still consider:

• mortgage repayments;
• council rates;
• insurance;
• maintenance;
• strata fees;
• utilities;
• stamp duty and other transaction costs;
• future interest-rate movements;
• emergency savings.

The scheme can remove a major entry barrier, but it does not remove the cost of homeownership. For buyers entering Perth’s market in 2026, the best opportunity is a combination of a 

• Smaller deposit hurdle.
• Greater property choice.
• Better negotiation conditions.

Capital-city auction clearance rates fell below 50 per cent during the 2026 market downturn, while auction activity itself changed as vendors became more cautious. For Perth, auctions represent only part of the market, so buyers should not rely on auction clearance rates alone. Private treaty transactions are particularly important in Western Australia. Nevertheless, auction results can reveal the broader mood. A market where:

• fewer buyers attend;
• fewer bidders compete;
• properties are passed in;
• vendors withdraw;
• properties sell before auction;

is generally less aggressive than a market characterised by multiple bidders and strong competition. A property market headline might say:

• “Perth prices are still rising 15 per cent annually.” That sounds like a seller’s market.
• But another headline might say: “Perth listings more than double year-on-year.” That sounds buyer-friendly.

Both can be true. This is why sophisticated property analysis needs multiple indicators.

Indicator	What to ask
Median price	Are prices rising or falling?
Monthly price movement	Is momentum accelerating or slowing?
New listings	How much fresh stock is arriving?
Total listings	How much choice do buyers have?
Days on market	Are properties taking longer to sell?
Vendor discounting	Are sellers accepting less?
Auction clearance	How strong is competition?
Sales volumes	Are buyers actually transacting?
Buyer enquiry	Are inspections generating offers?
Rental market	Is investor demand changing?
Interest rates	Is borrowing becoming easier or harder?
Employment	Are households confident about income?
Suburb-level data	Is the local market behaving differently?

This is the framework buyers should use to determine whether bargaining conditions are improving.

A buyer does not need Perth property prices to fall 20 per cent to benefit from a changing market. Suppose a property is worth approximately $900,000. If the market remains broadly stable but the seller is willing to accept $875,000 instead of $900,000, the buyer has already achieved a $25,000 negotiation benefit. If the buyer also negotiates:

• a favourable settlement;
• inclusion of appliances;
• repairs;
• removal of unwanted conditions;

the total economic value of the negotiation can become larger. That is what buyer bargaining power actually looks like. Consider two scenarios.

Scenario A: Lower price  

• Listed at $900,000.
• Negotiated to $875,000.
• Saving: $25,000.

Scenario B: Same price, better terms

Purchase price: $900,000. Seller agrees to:

• include quality appliances;
• complete agreed repairs;
• provide a flexible settlement;
• resolve outstanding maintenance issues.

The headline price has not changed, but the buyer may still receive significant value. Therefore, buyers should think in terms of total transaction value, not simply headline price.

Where Perth Buyers May Find the Greatest Negotiating Opportunities

Not every property will be equally negotiable. The strongest opportunities usually appear where several conditions overlap.

• Long days on market: The longer a property remains unsold, the more important it becomes to investigate why.
• Recent price reduction: A price reduction can indicate the original expectation wasn’t supported by demand.
• Multiple comparable properties: If buyers have alternatives, sellers have less leverage.
• Properties requiring work: Renovation costs give buyers a legitimate reason to adjust their offer.
• Overpriced listings: An unrealistic asking price becomes increasingly difficult to sustain in a market with rising stock.
• Vendor urgency: A motivated vendor can be more flexible.
• Properties that failed to sell: A passed-in or withdrawn property can sometimes create a second negotiation opportunity.
• Properties with presentation issues: Poor presentation can reduce the buyer pool.
• Development or planning uncertainty: Where the buyer assumes additional risk, price can become part of the compensation.
• Higher-value properties: Some premium properties can have smaller buyer pools, creating greater scope for negotiation if the listing becomes stale.

A buyer-friendly market can create opportunities, but it can also create traps. A property may appear cheap for a reason. Before negotiating aggressively, buyers should investigate:

• building defects;
• termite risk;
• structural issues;
• drainage;
• flood risk;
• bushfire considerations;
• zoning;
• easements;
• heritage restrictions;
• strata liabilities;
• special levies;
• unapproved renovations;
• development restrictions;
• rental assumptions;
• insurance costs;
• local infrastructure plans.

A $50,000 discount is meaningless if the property needs $100,000 of unexpected work. The best bargain is not necessarily the property with the lowest price. It is the property with the best risk-adjusted value.

Buyers should prioritise settled sales over advertised prices. An asking price is a seller’s expectation. A settled sale shows what another buyer actually paid. Suppose three similar homes have sold for:

• $780,000;
• $795,000;
• $810,000.

A fourth property is listed for $875,000. The seller may believe the property deserves $875,000. But the buyer has evidence to question that valuation. Of course, differences in land, condition and location matter. But negotiation becomes much stronger when the buyer can demonstrate a market range. For buyers approaching the Perth market with a bargaining mindset, the goal should not be to “beat” the seller. It should be to discover the price at which both sides can transact. Think of negotiation as a range.

• Seller’s expectation: $900,000
• Buyer’s ideal: $850,000
• Evidence-based market range: $865,000–$885,000
• Possible transaction: $875,000

A successful negotiation doesn’t necessarily produce the buyer’s opening number. It produces a price supported by evidence and acceptable to both parties. That is what a healthy property negotiation looks like.

How to Negotiate a Perth Property in 2026?

Step 1: Do not reveal your maximum budget

If your maximum is $900,000, there is little reason to tell the selling agent immediately. Your maximum is your private boundary. It is not your opening offer.

Step 2: Ask questions

Useful questions include:

• How long has the property been on the market?
• Has there been an offer previously?
• Has the price changed?
• Is the vendor looking for a particular settlement period?
• Is there anything the seller would like to remain with the property?
• Has the vendor already purchased another property?

The objective is not to interrogate the agent. It is to understand the transaction.

Step 3: Inspect more than once

A second inspection can reveal problems missed during the first visit.

Step 4: Compare recent sales

Use comparable properties.

Step 5: Understand the competition

Ask yourself whether another buyer could realistically pay more.

Step 6: Make a clean offer

A strong offer is not necessarily the highest offer. It can be attractive because it is:

• finance-ready;
• well documented;
• realistic;
• flexible;
• straightforward.

Step 7: Know when to walk away

Don’t let the negotiation become emotional.

During a seller’s market, time worked against the buyer. Every day meant: “Someone else may buy it.” In a more balanced market, time can work differently. If a property has remained unsold for several weeks, the buyer may reasonably reassess the seller’s position. However, buyers should not assume that simply waiting guarantees a discount. A desirable property can still sell suddenly. The smart strategy is not: “Wait until the seller panics.” It is: “Use time to gather better information.”

Also read: First Home Super Saver Scheme 2026 | Perth First Home Buyers

Why the Best Properties May Still Sell Quickly

REIWA’s July data showed that some Perth suburbs still had very short selling periods. For houses, Mount Lawley recorded a median of eight days, Dianella nine days, and Kardinya, Palmyra and Balga around 11 days. This is a crucial warning. The overall market may be cooling while individual suburbs remain extremely competitive. A buyer who sees a desirable property in a high-demand location should not automatically assume: “Perth is balanced so that I can wait.” The property may have its own micro-market. Market shifts matter for buyers, too. Sellers need to adjust too. In the strongest conditions, sellers could often list confidently and wait for competition to push the price. In 2026, pricing strategy matters much more.

• An overpriced property can sit.
• A stale listing can lose momentum.

Once a property has been on the market for several weeks, buyers may begin asking: “Why hasn’t this sold?” That can create a negative feedback loop. The longer it sits, the more buyers expect a discount.

The 2026 Perth market will likely reward sellers who price realistically from the start. Consider two sellers.

Seller A

• Market value: $850,000
• Asking price: $850,000
• Generates strong interest.

Seller B

• Market value: $850,000
• Asking price: $925,000
• Receives limited interest.

After six weeks, Seller B reduces the price to $890,000. Buyers now see: “Price reduced.” The property may appear more negotiable than it would have if it had been priced correctly from the start. In a softer market, overpricing can cost more.

One reason the Perth market deserves careful analysis is how quickly prices have moved in recent years. REIWA reported that a record 31 Perth suburbs had median house prices of $2 million or more in the year to June 2026, compared with only three suburbs five years earlier. That demonstrates the depth of Perth’s previous price growth. It also means buyers should be cautious about relying on old assumptions.

• A suburb that once seemed “expensive” may now be considered mid-market.
• A suburb that once sat below $1 million may have moved into the million-dollar bracket.

This makes historical price comparisons less useful unless they are adjusted for the scale of the recent market change. REIWA forecasts that Perth’s median house sale price could reach about $1 million by the end of 2026, despite the market softening. This sounds contradictory. How can Perth move toward a buyer-friendly market while prices may still rise? Because market direction and bargaining conditions are not identical. A market can experience:

• strong annual price growth;
• slower monthly growth;
• increased listings;
• longer selling periods;
• greater vendor discounting;

all at the same time. For example, if a property market rises rapidly for two years and then stops rising, it can still be much more expensive than before.

A full buyer’s market requires several conditions to persist at the same time.

• Signal 1: Listings remain elevated – if stock stays above long-term levels, buyers retain choice.
• Signal 2: Days on market continue rising – Longer selling periods indicate weaker absorption.
• Signal 3: Vendor discounting increases – More sellers accepting less than asking indicates stronger buyer leverage.
• Signal 4: Price growth turns negative – Persistent monthly or quarterly declines would strengthen the buyer’s position.
• Signal 5: Sales volumes remain weak – If listings rise while transactions fall, inventory can build up.
• Signal 6: Auction competition weakens – Fewer competing buyers reduce urgency.
• Signal 7: Mortgage affordability remains constrained – High borrowing costs can suppress demand.
• Signal 8: Buyer sentiment remains cautious – Confidence influences purchasing decisions.

If these indicators continue moving in the same direction, Perth could transition from balanced conditions into a more clearly buyer-dominated market.

What Should Buyers Watch Through the Rest of 2026?

The remainder of 2026 could be particularly informative. Buyers should track the following every month.

• Total Perth listings: If listings remain around or above 6,000–7,000, buyers have substantially more choice than during the scarcity period.
• New listings: Fresh stock tells us whether sellers continue entering the market.
• Days on market: If median selling time continues increasing from 23 days, buyer leverage could strengthen further.
• Vendor discounting: The increase from approximately one in 10 discounted sales to three in 10 is one of the strongest indicators to monitor.
• Monthly house values: Perth’s monthly price movement will reveal whether the market is simply flattening or beginning to decline.
• Sales volumes: A widening gap between listings and sales would be significant.
• Auction clearance rates: A useful confidence indicator.
• Interest rates: The RBA’s decisions will remain critical.
• Employment: Household income security directly affects borrowing and confidence.
• Suburb-level performance: This may be the most important of all.

Before making an offer, ask:

Property

• Is this property fairly priced?
• What have comparable properties sold for?
• How long has it been listed?
• Has the asking price changed?
• How many similar properties are currently available?

Negotiation

• Is the vendor motivated?
• Is there genuine competing interest?
• Can I negotiate a settlement?
• Are inclusions negotiable?
• Are repairs required?

Finance

• What is my maximum comfortable purchase price?
• What will repayments look like?
• What happens if rates remain high?
• How much cash will remain after settlement?

Due diligence

• Have I completed appropriate inspections?
• Have I checked planning and zoning?
• Have I reviewed strata information where applicable?
• Have I considered insurance and maintenance?
• Are there any development or infrastructure issues?

Strategy

• Am I buying because the property is right?
• Or am I buying because I am afraid prices will rise?

That final question can save a buyer a lot of money.

The Perth Property Market in One Table

Market characteristic	Seller’s market	Perth 2025/early 2026	Perth mid/late 2026
Listings	Low	Extremely constrained	Much higher
Buyer choice	Limited	Very limited	Increasing
Selling speed	Very fast	Extremely fast	Slower
Vendor discounting	Low	Historically low	Increasing
Buyer urgency	High	Very high	Moderating
Negotiation	Limited	Difficult	Improving
Price growth	Strong	Strong	Cooling
Interest rates	Important	Restrictive	Restrictive
Competition	Buyer vs buyer	Strong	More balanced
Market direction	Seller-led	Seller-led	Moving towards balance

If there is one misconception buyers should avoid, it is this: A buyer-friendly market does not require a property-price crash. The market can become more favourable to buyers through:

• rising stock;
• slower sales;
• longer listing periods;
• increased discounting;
• lower competition;
• better information;
• more negotiating flexibility.

That is exactly what is beginning to appear in Perth. REIWA’s data provides a particularly strong illustration: active listings more than doubled from the very low levels seen at the end of 2025, selling times have lengthened sharply, and the share of houses selling below their listing price has increased materially. The psychology of the Perth market is changing.

• The old environment was: See it → Offer quickly → Compete → Pay up → Hope it works.
• The emerging environment is: Research → Compare → Inspect → Negotiate → Decide.

That is a significant improvement for buyers. It does not mean buyers should expect sellers to give away properties. It means buyers can increasingly demand a rational conversation about value.

For buyers, the 2026 market can be approached with a simple framework.

• Look beyond the median: The Perth median tells you about the broad market, not the exact property.
• Look for stock: More alternatives mean more negotiating power.
• Look at days on market: Time can reveal vendor flexibility.
• Track price reductions: A price reduction is information.
• Study comparable sales: Settled transactions are stronger evidence than asking prices.
• Understand the seller: Motivation can be as important as market conditions.
• Negotiate the whole deal: Price is only one component.
• Protect your downside: Do not let a discount distract you from due diligence.
• Keep your finances conservative: Do not rely on future rate cuts.
• Be prepared to walk away: A good property is not necessarily a good purchase at any price.

Three broad possibilities exist for Perth through the remainder of 2026 and into 2027.

Scenario 1: Balanced market

• Listings remain elevated.
• Prices flatten.
• Days on market stay around current levels.
• Discounting remains higher than the 2025 lows.

This would create a relatively healthy negotiation environment.

Scenario 2: Stronger buyer’s market

• Listings continue rising.
• Sales volumes remain weak.
• Prices begin falling consistently.
• Days on market increase further.
• Vendor discounting becomes widespread.

This would provide buyers with substantially greater bargaining power.

Scenario 3: Market re-tightens

• Interest rates eventually ease.
• Buyer confidence returns.
• Demand strengthens.
• Listings fall.
• Prices accelerate again.

In this scenario, today’s bargaining window could prove temporary. That is why financially ready buyers shouldn’t assume waiting automatically means getting a cheaper property.

Final Verdict: Is Perth Becoming a Buyer’s Market?

Yes — but the more accurate description is that Perth is transitioning towards a more balanced, buyer-friendly market rather than already being a full buyer’s market.

• The evidence is compelling.
• Listings have risen sharply.
• The supply of homes available to buyers has more than doubled from the extreme lows of late 2025.
• Properties are taking longer to sell.
• Vendor discounting has increased dramatically.
• Annual price growth remains strong, but monthly momentum has weakened.
• Interest rates remain restrictive.
• National housing conditions have softened.
• Buyers are becoming less pressured to purchase immediately.
• And first-home buyers now have additional support through the expanded 5% Deposit Scheme.

Yet Perth remains fundamentally different from Sydney and Melbourne. The market still has strong underlying demand, and some suburbs continue to sell properties very quickly. Premium locations, renovated homes, development opportunities and tightly held pockets can remain competitive. That means the smartest buyer in Perth in 2026 is not necessarily the buyer who waits for the biggest price crash. It is the buyer who understands where the market has softened, where it has not, and how to negotiate accordingly.

The data paints a much more interesting picture than a simple “prices up” or “prices down” headline.

• Prices: Perth remains one of Australia’s strongest annual performers, with annual growth of 14.9 per cent to July despite a 0.2 per cent monthly decline.
• Listings: Perth active listings reached 6,718 in July, more than double the level a year earlier, and total properties available for sale reached 7,204 by late August.
• Selling time: House selling time increased to 23 days in July, up from nine days in February.
• Discounting: Three in 10 Perth houses were selling below listing price in June, compared with roughly one in 10 during the late-2025 seller frenzy.
• Interest rates: The RBA cash rate remained at 4.35 per cent in August after three increases during 2026.
• National market: National home values fell 0.7 per cent in July, with Sydney and Melbourne falling much more than Perth.

Put those numbers together, and a clear picture emerges. Perth is not crashing. Perth is normalising. And normalisation is precisely what can create bargaining opportunities.

For years, Perth buyers were told some version of the same story: “If you like the house, don’t wait.” In 2026, the conversation is becoming more nuanced.

• More homes are available.
• There is more time to inspect.
• There are more comparable properties.
• More evidence of vendor discounting.
• Pressure to compete at any cost is lower.

That does not mean buyers can name any price they want. It means the market is beginning to reward research, patience and negotiation. When properties sell in a matter of days, buyers negotiate from fear. When properties sit longer, listings increase, and vendors become more willing to discuss price, buyers can negotiate from information.

Perth’s property market may still have strong annual growth. It may still have suburbs where demand remains intense. It may still have sellers who achieve excellent prices. But the days when almost every buyer had to compete against scarcity are fading. The market is moving towards a new equilibrium. For buyers, that means 2026 could offer something Perth has not offered in abundance for some time: choice. And choice underpins bargaining power. The opportunity is not simply to buy a cheaper house. It is to buy the right property, at a price supported by evidence, on terms that make sense, without being forced into a decision by fear of missing out. That is what a buyer-friendly Perth market can ultimately deliver. And as the remainder of 2026 unfolds, the numbers worth watching will not be limited to the median house price.

• Watch the listings.
• Watch the days on market.
• Watch vendor discounting.
• Watch sales volumes.
• Watch buyer competition.
• Watch interest rates.
• Watch what happens at suburb level.

Perth Property Market 2026: Key Figures at a Glance

Metric	Latest 2026 figure	Why it matters
Perth properties for sale	7,204	Much greater buyer choice
Annual change in available stock	+129.1%	Major shift from scarcity
Perth July active listings	6,718	More than double a year earlier
Perth house median selling time	23 days	Buyers have more breathing room
Perth unit median selling time	19 days	Units also taking longer
Houses selling below listing	3 in 10 in June	Stronger bargaining environment
Perth median house price	$938,000 at June	Market remains relatively strong
Perth median unit price	$675,000 at June	Unit market also growing
Perth annual home-value growth	14.9% to July	Perth remains a national outperformer
Perth monthly value movement	-0.2% in July	Momentum has softened
National July movement	-0.7%	National market cooling
Sydney July movement	-1.4%	Greater weakness
Melbourne July movement	-1.2%	Greater weakness
RBA cash rate	4.35%	Borrowing remains restrictive
First-home buyer deposit	5% under expanded scheme	Lower entry barrier

The most important question for Perth property buyers is no longer simply: “Are prices going up or down?” The better question is: “Who has the stronger negotiating position today — the buyer or the seller?” Right now, the answer is becoming increasingly favourable to the buyer.

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