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WA Property Market Update March 2026

For West Australians, the property conversation in March 2026 is still being shaped by the same broad force that defined much of 2025: demand is staying strong while supply remains tight. Even with interest rates moving higher again, the local market has not rolled over. In fact, Western Australia continues to stand out nationally as one of the country’s strongest property markets, supported by limited housing stock, population growth, a resilient labour market, and relatively stronger buyer confidence than many eastern states. Here’s how the WA property market is shaping up as of March 2026.

WA Residential Property Market Update March 2026

The WA residential market remains highly competitive. Perth had 3,294 properties listed for sale in the week ending 22 March 2026, which was higher than four weeks earlier but still 35.9 per cent lower than the same time last year. That tells an important story: while listings have lifted a little in recent weeks, available stock remains tight by historical standards. At the same time, REIWA’s latest median data shows Perth house prices at $875,000, land at $395,000, and weekly house rents at $720, with unit rents sitting at $690. Rental supply also remains tight, with 1,902 properties available for rent at the end of that week, down 11.6 per cent on a year earlier. For buyers, that ongoing shortage continues to underpin prices. For sellers, it means well-presented, well-located homes are still likely to attract strong attention, particularly where the property meets affordability needs or offers flexibility for extended family living.

Older villas, units, and adaptable housing formats are attracting more interest, particularly as affordability pressures push buyers away from traditional detached homes on full blocks. It also helps explain the growing appeal of selected regional markets such as Geraldton, Kalgoorlie, Northam, York and Pinjarra, where relative affordability continues to draw attention from both owner-occupiers and investors.

Interest rates and inflation are becoming ever-more significant players in the property landscape, as on 17 March 2026, the Reserve Bank increased the cash rate target by 25 basis points to 4.10 per cent, following a rise to 3.85 per cent in February. The RBA said inflation had picked up materially in the second half of 2025, and that there was a risk it would remain above target for longer than previously expected. ABS data released for February 2026 showed annual CPI at 3.7 per cent and trimmed mean inflation at 3.3 per cent, still above the RBA’s 2 to 3 per cent target band. Housing inflation remained particularly strong at 7.2 per cent over the year, with electricity, new dwellings and rents all contributing. For residential buyers, that means borrowing capacity and monthly cash flow remain under pressure, especially for households already stretched by living costs. For sellers, it may mean a slightly more selective buyer pool over time, but not necessarily weaker pricing while supply remains so constrained. In practical terms, the WA market could become more price-sensitive in some segments, but it is not yet showing the conditions of a broad downturn.

Buyers need to be realistic about repayments, careful not to overextend, and focused on fundamentals such as location, layout, land content, and long-term liveability. Sellers, meanwhile, should understand that although strong demand remains, buyers are more interest rate-conscious than they were during the easing cycle of 2025.

WA Industrial Property Market Update March 2026

Western Australia’s industrial market also remains a standout, though it is clearly operating at an advanced stage of the cycle. Perth began 2026 at the peak of the sector’s property cycle, supported by firm leasing demand, extremely limited supply of high-specification premises, minimal incentives, and very low vacancy. It noted that rents for modern industrial space had moved from around $150 per square metre in 2024 to close to $200 per square metre in selected cases during 2025, which is an extraordinary result for the Perth market. The report also highlighted that land values in historically secondary industrial locations have now pushed beyond $600 per square metre, reflecting a serious shortage of development-ready land.

Compared with the broader national picture, Perth remains one of the more supply-constrained industrial markets in Australia. Nationally, the outlook is more mixed. Melbourne is expected to stabilise, Sydney remains steady, and parts of Queensland are still performing strongly, but Perth’s combination of low vacancy, limited land release, owner-occupier demand and eastern states investor interest continues to support values. For businesses, investors and owner-occupiers, that means being selective on asset quality, tenant strength, and location remains essential.

Looking Ahead

As of March 2026, the WA property market remains one of the strongest in the country. In residential property, low supply is still doing the heavy lifting, even as higher interest rates and inflation challenge affordability. In industrial property, Perth continues to benefit from scarce stock, high rents and strong demand, though the market is clearly mature and should be approached carefully. For buyers, sellers and investors alike, this is not a market to navigate on headlines alone. Conditions are still favourable in many parts of WA, but the smartest decisions will come from understanding how local demand, financing conditions, and property fundamentals are intersecting.

If you are considering buying, selling, refinancing, or reviewing your position in the current market, speak with the McKinley Plowman Finance team on (08) 9301 2200 or reach out via our website to discuss your next move with confidence.

Data / Further Reading: Herron Todd White Month in Review; REIWA Perth Market Insights

written by:

Paul Moran

Paul has over 35 years of experience in finding financial solutions for homebuyers, investors and business owners.
A licensed broker and member of the Mortgage & Finance Association of Australia (MFAA), Paul’s extensive experience includes 20 years with a major bank, seven of which were as commercial banking manager.
Paul delivers a holistic financial solutions to achieve the best possible outcome for a client’s personal or commercial lending needs. Paul also provides a comprehensive financial consultancy to business owners on commercial, equipment and invoice finance.