Perth's property market has a new warning light: more than three times as many properties for sale as a year earlier. REIWA's weekly snapshot, published 19 October 2026 for the week ending 18 October, counted 8,633 properties available for sale, up 204.7% year-on-year and 11.3% in four weeks. That is a surge in buyer choice, not a 204.7% fall in prices — but it changes the conversation for anyone relying on last year's scarcity to sell this spring. 3
The uncomfortable twist is that a suburb can still appear on a “top performing” list while the wider market loses value. Baldivis and the suburb of Perth each recorded 13 weekly sales, leading REIWA's published sales ranking. Those are transaction counts, not price-growth rates, investment returns or proof that buyers are paying more. 3
This week's story is not another national crash prediction. It is the widening gap between yesterday's annual gains, today's available stock and what a suburb's sales leaderboard actually measures.
The news sources below were published on 15 and 19 October. Their underlying periods differ: REIWA reports a recent week, while Cotality's value changes cover the September quarter and year. These are not completed October house-price results. The image is an AI-generated Australian property illustration, not a photograph of the suburbs ranked below.
The boom-market reversal hiding inside the annual numbers
Cotality's 15 October Housing Chart Pack release reports that Perth dwelling values remained 10.1% higher over the year, but fell 4.7% over the September quarter. Brisbane tells a similar story: 5.9% annual growth, alongside a 4.7% quarterly decline. Strong earlier gains can keep the annual number positive long after momentum turns. 1
| Market | Dwelling values: September quarter | Dwelling values: past year | Median selling time now vs a year earlier |
|---|---|---|---|
| Perth | −4.7% | +10.1% | 26 days vs 11 days |
| Brisbane | −4.7% | +5.9% | 38 days vs 17 days |
Source: Cotality's October Housing Chart Pack release. Selling-time figures describe the release's September reporting period; they are not a promised sale timetable for an individual home. 1
Perth still sells faster than Brisbane on that measure, but the typical selling period is now more than twice its year-earlier length. “Still up over the year” and “harder to sell now” can both be true. Neither tells you precisely what your property would fetch.
This is different from the broad downturn covered in our September housing-falls article. The useful new question is how quickly local competition is changing — especially in markets owners had become accustomed to calling supply-starved.
Which suburbs are still selling? Read the leaderboard carefully
REIWA's fixed weekly article gives these leading sales locations for the week ending 18 October:
| Suburb | REIWA-reported weekly sales | What the number establishes |
|---|---|---|
| Baldivis | 13 | Joint-leading reported transaction count |
| Perth | 13 | Joint-leading reported transaction count |
| Canning Vale | 9 | Among the published sales leaders |
| Rockingham | 8 | Among the published sales leaders |
| Balga | 7 | Among the published sales leaders |
Source: REIWA's 19 October weekly snapshot. “Perth” in this table means the suburb, not the entire metropolitan market. The list reproduces REIWA's published selection; it is not our ranking of the best suburbs to buy. 3
For an investor, a busy suburb is a starting point for investigation, not a conclusion. A larger suburb or one with more listings can record more sales without having stronger price growth. A week with several apartment transactions cannot automatically describe demand for detached houses. And homes can sell promptly if sellers accept lower offers.
Before calling any of these places a winner or loser, compare the same dwelling type, the same time window and similar homes. Look at nearby settled sales, available competing listings, time on market and price reductions. Keep annual median sale prices separate from a value index: the median can change because a different mix of homes sold.
Listings have tripled — but the two reports are not interchangeable
REIWA reports that Perth's 8,633 sale listings were 4.2% higher than the previous week, 11.3% higher than four weeks earlier and 204.7% higher than a year earlier. Its count includes houses, units and vacant land. 3
Cotality separately reports Perth advertised listings 64.7% higher over the year and Brisbane listings 60.4% higher in its October release. Do not splice those percentages into one chart as though they are the same series: they come from different providers, coverage and reporting windows. The common signal is increased stock and slower selling, not agreement on the exact size of the increase. 1
Nor does rising total stock prove a rush of distressed sellers. Nationally, Cotality reports new listings down 7.9% annually, even while total advertised stock rose 19.1%. Homes can accumulate because existing listings take longer to clear. That distinction matters: weaker buyer demand is not the same diagnosis as a sudden wave of forced sales. 1
Rental demand is the counterweight — not a guarantee
The sale market and rental market are not moving in lockstep. REIWA counted 2,037 properties for rent, 9.2% fewer than a year earlier, although availability rose 2.3% over the week. Members reported 600 properties leased, up 4.3% year-on-year. Baldivis led reported leasing activity with 21, followed by East Perth and Scarborough with 16 each, Perth with 15 and Alkimos with 12. 3
That is a reason not to equate a falling sale-value index with a collapsing rental business. But leasing counts are not rent increases or vacancy rates, and fewer advertised rentals do not guarantee uninterrupted rent for your home.
Cotality reports national gross rental yields rising to 3.85% as dwelling values declined. A higher yield can result from a lower property value; it does not necessarily mean more rent reaches the owner's bank account. Interest, insurance, rates, maintenance and vacancy still determine actual cash flow. 1
Property-market prospects: three signals that matter next
No one weekly snapshot identifies the bottom. Cotality's outlook emphasises upcoming inflation data, the RBA's November decision and whether buyers regain confidence. Further tightening is a risk, not an announced outcome in this article. 1
Watch these signals rather than extrapolating one dramatic percentage:
- Does competing stock keep growing? Track the same provider's figures over several weeks. If listings rise while comparable sales thin out, sellers may face more negotiation pressure. That is an interpretation to test locally, not a guaranteed price fall.
- Do selling times and discounting stabilise? More buyer choice need not produce an endless slide if realistic pricing brings transactions back. Compare like-for-like local homes, not only city averages.
- Does rental cash flow remain resilient? Record actual rent, expenses and vacancy by property. A strong rent roll can support holding through weaker valuations, but cannot restore lost equity by itself.
If you're buying, use our borrowing-power explainer alongside a fresh lender assessment; a lower price does not automatically mean an easier approval. If you're holding, review the refinance-risk article for the difference between cash flow and equity. The negative gearing calculator can help explore illustrative after-tax cash flow, subject to your tax circumstances.
The takeaway: Perth's annual growth headline describes where the market has been; the swelling stock of homes for sale tells you what sellers face now. A sales leaderboard tells you where transactions happened — not which suburb is immune to falling values.
Keep each property's income, expenses and original statements together so you can judge your own holding costs, rather than reacting to a city-wide label. See how PropAlly organises property records, whether you use an agent or self-manage.
Sources checked 21 October 2026. General information only, not financial, credit or tax advice. Weekly member-reported sales, listing counts and dwelling-value indices have different coverage and can be revised. No suburb-level price-growth claim or investment recommendation is implied by the transaction ranking. Seek licensed advice for your circumstances.
