Cotality has revised its dwelling value data for Perth downward, resulting in the city recording a meaningful decline.
Justin Fabo from Antipodean Macro illustrates the revision below:
Following the revision, Perth’s daily dwelling values index has declined by 0.6% from its peak in mid-May.
PropTrack’s monthly dwelling values index has also reported a 1.7% decline from the March 2026 peak, following four consecutive monthly falls:
As illustrated below, Perth’s quarterly rate of decline (shown in purple) is the third fastest among the five major capitals, behind Sydney’s and Melbourne’s but ahead of Brisbane’s and Adelaide’s:
Thus, Perth is no longer the nation’s housing holdout, with home values experiencing a meaningful price correction.
With for-sale listings ballooning by 31.5% over the past year, Perth dwelling values will continue to fall.
Source: Cotality
