Perth Property Market Update October 2026
Perth's spring selling season has started slowly. In REIWA's October 2026 Perth property market update, active listings are 217% higher than a year ago, while sales volumes have dropped to levels last seen in 2019. Perth rents, meanwhile, remain at record highs, with the vacancy rate below 2%.
Below you'll find the key figures, REIWA's full update, and what the numbers mean for inner-city owners, sellers and buyers, from our local team on Wellington Street in the Perth CBD.
Perth property market at a glance: October 2026
| Measure | October 2026 | Change |
|---|---|---|
| Median house sale price (annual) | $970,000 | +0.5% month, +16.4% year |
| Median unit sale price (annual) | $700,000 | +0.7% month, +20.7% year |
| Median days to sell (houses) | 27 days | 19 days slower than Oct 2025 |
| Median days to sell (units) | 28 days | 20 days slower than Oct 2025 |
| Active listings for sale | 9,129 | +217.0% year |
| Median weekly rent (houses) | $750 | +7.1% year |
| Median weekly rent (units) | $700 | +4.5% year |
| Median time to lease | 15 days | 1 day faster than Oct 2025 |
| Vacancy rate | Below 2% | — |
Source: REIWA, October 2026 market update. Median sale prices are REIWA's annual medians based on pending and settled sales.
What October's figures mean for inner-city Perth
Several of the suburbs we work in most featured in REIWA's October data.
- East Perth units sold faster than in any other Perth suburb, in a median of seven days. The annual median unit price rose 0.5% to $690,000.
- Subiaco units sold in a median of 12 days.
- Victoria Park recorded the strongest unit rent growth, up 4.8% to $650 a week, and was among the fastest suburbs to lease, at 11 days.
- Maylands unit rents rose 4.0% to $650 a week, and the median unit price rose 0.3% to $615,000.
- South Perth unit rents rose 1.3% to $750 a week.
For sellers
With more listings on the market, buyers have more choice and are taking more time to decide. REIWA notes that around half of Perth houses are now selling below the asking price. Pricing, presentation and marketing matter more than they did a year ago.
Every building and street behaves differently. A free appraisal based on recent local sales will give you a realistic picture for your apartment or home.
Find out how much your property is worth →
For landlords and investors
Perth rents are holding at record highs, vacancies are low, and well-presented properties are leasing quickly. REIWA also notes that the State Government has signalled further amendments to the Residential Tenancies Act. We'll cover any confirmed changes once they're official.
Find out what your property could rent for →
For buyers
More listings and longer selling times mean buyers have more choice and more time to inspect, according to REIWA. That makes this a good time to compare buildings and do your homework.
Browse inner-city properties for sale →
Frequently asked questions
What is the median house price in Perth?
According to REIWA, Perth's annual median house sale price was $970,000 in October 2026, up 16.4% on a year earlier. The annual median unit price was $700,000.
How long does it take to sell a property in Perth?
In October 2026, Perth houses sold in a median of 27 days and units in 28 days (REIWA). Timeframes vary widely by suburb, property and price. East Perth units, for example, sold in a median of seven days.
What is the median rent in Perth in October 2026?
REIWA reports Perth's median weekly rent was $750 for houses and $700 for units in October 2026. The vacancy rate is below 2%.
Is now a good time to sell my Perth apartment?
It depends on your building, your property and your plans. A free appraisal from a local agent – AZ Property team who knows the local market is the best place to start. We're happy to talk it through with no obligation.
Source: https://reiwa.com.au/news/new-listings-rise-but-sales-are-down-as-spring-selling-season-starts/
Talk to a local Perth agent
Whether you're selling, leasing or looking for a property manager who picks up the phone, AZ Property at 2/600 Wellington Street, Perth, knows the inner-city market building by building.
Call 08 9355 2757 or book a free appraisal →
