Perth Has Joined the Million Dollar Club — What Expats Need to Know in 2026
Perth’s median house price just cracked $1 million for the first time. Selling times are measured in days, not weeks. And off-market deals — once a nice-to-have — are now an essential strategy for serious buyers. In a recent episode of the Expat Mortgage Podcast, I sat down with Adi Parekh, Director of Folk Buyers Agency, for a ground-level update on what’s happening in the Perth market right now, and what Australian expats watching from Singapore, Hong Kong, Dubai and beyond need to know before making a move.
A Market Running at Full Pace
Perth’s property market has delivered remarkable growth over the past two to three years. As of early 2026, the median house price sits at approximately $1.008 million — a milestone that has arrived faster than most analysts predicted. That follows annual growth of close to 20%.
Units have kept pace. Through 2025, unit prices rose around 18% compared to 12% for houses, as affordability pressures pushed buyers down the price ladder. Adi expects that trend to continue through 2026.
“Since last time, a lot of things have changed, and the market has been as chaotic and as interesting as we expected it to be.” — Adi Parekh, Folk Buyers Agency
What’s driving this? Adi points to a combination of constrained supply, strong interstate and overseas interest, elevated rental yields, and affordability relative to Sydney and Melbourne. Perth still offers investors genuine value — particularly in the sub-$900,000 bracket.
Selling in Under a Week — Why Pre-Approval Is Non-Negotiable
By December 2025, the median selling time in Perth had reached nine days — seven days faster than the same period the year before. In early 2026, Adi is seeing properties go under offer even faster. The typical pattern: listed Wednesday or Thursday, open homes Saturday and Sunday, offer accepted by Monday or Tuesday.
“Basically not even a week anymore. They’re being snapped up quite quickly, just reiterating the importance of having someone by your side, to have that access and negotiate in a very efficient manner.” — Adi Parekh, Folk Buyers Agency
For expats this has one clear implication: if you’re not pre-approved before you start looking, you’re not competitive. Vendors in Perth are increasingly reluctant to accept subject-to-sale offers. Subject-to-finance clauses are still common, but buyers who can move without them consistently negotiate stronger outcomes.
From a financing perspective, this means getting your pre-approval sorted before you start the property search — not during it. Atlas Mortgages works with expats in over 30 countries and can have a pre-approval in place before you’ve shortlisted your first suburb.
Off-Market Access — The Expat Advantage
Approximately half of all deals Folk Buyers Agency secures are off-market or pre-market. For expats who can’t walk through open homes on a Saturday morning, this isn’t just an advantage — it’s often the only viable pathway into the market.
Adi’s off-market access comes from long-term relationships with selling agents and direct seller contacts across the Perth metro. Due diligence on off-market properties requires more work, but the rewards — less competition, more negotiating room, and occasionally better pricing — make it well worth the effort.
Perth Suburbs Performing Well in 2025-26
Adi outlined the areas delivering the strongest growth, and the suburbs he’s currently recommending to investor clients:
| Suburb / Corridor | Annual Growth / Notes |
| Armadale | ~23.7% — still delivering despite earlier growth cycle |
| Belmont / Victoria Park | ~22% — inner-ring, airport employment node, lifestyle |
| Gosnells / Kwinana / Swan | ~20-22% — industrial employment, infrastructure investment |
| Joondalup | ~18.7% — second CBD status, coastal lifestyle, hospital |
| Cockburn | ~18.7% — south freeway, median now above $1M |
| Alkimos / Eglinton (North) | Strong growth — coastal access, new estates |
| Joondalup / Mosman Park / Bayswater | Adi’s current investor picks — sub-$900K sweet spot |
| Southern River / Success / Rockingham | South-of-river opportunities, employment proximity |
Adi’s consistent advice: buy land (green title, freestanding) where possible. Properties with a genuine land component have historically outperformed strata over the long term. School zones, proximity to employment and retail, and good transport access remain the enduring drivers of value.
“The lower quarter of the Perth market — call it sub-$900,000 — grew 8.4% in just the last quarter. In February alone, we saw 2.3% in one month. That’s almost $20,000 added to a $900,000 property in a single month.” — Adi Parekh, Folk Buyers Agency
Interest Rates, Affordability and What They Mean for Perth
The RBA raised the cash rate to 4.10% in March 2026 — the second consecutive 25 basis point hike. With variable rates for investors sitting at around 6%, and 2-year fixed rates now pushing 6.5%, the rate environment is real.
Adi’s observation from the ground: investors are feeling it, particularly those with diversified portfolios who have also seen equity market volatility on the back of the Middle East conflict. But owner-occupier demand — especially for primary residences — has been more resilient.
For Perth specifically, the city’s close ties to the resources sector provide an employment buffer that eastern seaboard markets don’t have. Unemployment in WA remains low. FIFO workers and mining-sector professionals represent a consistent demand base that is less rate-sensitive than average.
Jeremy’s view: inflation will remain elevated for at least the next two years. Whether the RBA hikes further or begins to cut depends on how the Middle East conflict plays out and what happens to energy prices. What’s clear is that Perth’s supply-demand imbalance is structural — not cyclical — and rates alone are unlikely to correct it.
CGT Reform — What Expats Should Know Before May 12
Adi raised the pending CGT and negative gearing reforms ahead of the May 2026 budget. Jeremy’s take is measured but clear.
As of today (April 2026), nothing has been legislated. Treasury is modelling a reduction in the CGT discount from 50% to somewhere between 25% and 33%. A negative gearing cap of two investment properties per person is also on the table.
“I think if they were going to reduce the CGT discount to 33% or 25%, investors will just hold for longer. It puts fuel on the fire through the current market — people won’t want to sell because they want more capital gains.” — Adi Parekh, Folk Buyers Agency
Jeremy’s point: in a market already dealing with critically low stock levels, anything that incentivises investors to hold rather than sell makes the supply problem worse — not better. The irony of CGT reform in this environment is that it may do the opposite of what’s intended for housing affordability.
For expats specifically: as a non-resident for tax purposes, you cannot access the 50% CGT discount on gains accrued since May 2012. The proposed changes affect your position differently — primarily when you return to Australia and look to sell. Speak to Atlas Tax before any decision.
Have We Missed the Perth Boat?
The question Jeremy put directly to Adi: with the median above $1 million, have we missed Perth?
“No. The median price is above $1 million, but there is still a lot of opportunity. We’re buying properties in the $750,000 to $1 million range for most of our investors, and there are still areas with 20%+ growth potential at much lower median prices.” — Adi Parekh, Folk Buyers Agency
The thesis remains intact: population growth is running at 2.3% annually, listings are at 40% of equilibrium, and rental yields average 5.2% — far ahead of Sydney or Melbourne. For expats looking at Perth from a distance and wondering whether to wait, the data suggests the cost of waiting is compounding.
Key takeaways for expat buyers:
- Get pre-approved before you start searching — not during it. Sub-7-day selling times make this non-negotiable
- Off-market access through a buyers agent is the most effective way to compete from overseas
- Sub-$900,000 bracket is still delivering strong growth — the median crossing $1M doesn’t mean opportunity is gone
- Prefer green title (freestanding) over strata — land component drives long-term outperformance
- Hold fire on CGT decisions until after the May 12 budget — nothing is legislated yet
- As a non-resident expat, you already can’t access the 50% CGT discount on Australian investment properties — speak to Atlas Tax about your specific position.
Contact Us
If managing your financial affairs across borders is starting to feel overwhelming, you’re definitely not alone. It’s a complex space, and having the right support can make all the difference. At Atlas Wealth Group, we specialise in supporting Australian expats with cross-border tax planning, superannuation, mortgages and wealth management. Contact us to arrange a consultation with a qualified adviser who specialises in Australian expat financial planning to get personalised guidance tailored to your circumstances.
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Disclaimer: This article is intended for informational purposes only and does not constitute legal or financial advice. Individuals should consult licensed professionals when seeking guidance regarding their financial circumstances.