First home buyers moving to Perth

article header

Where are Australia’s first home buyers? Perth, according to the Real Estate Institute of Western Australia, which saw increased sales for lower-priced properties over the March 2018 quarter.

With preliminary figures showing 5865 dwelling sales for the March 2018 quarter (expected to reach 6603 once all sales settle – a marginal decrease on the December 2017 quarter), the number of sub-$500,000 sales increased by 5.7 per cent over this period, which REIWA president, Hayden Groves, said was indicative of first home buyer activity.

“The final quarter of 2017 saw the composition of the Perth market shift. Last quarter there were significantly more sales in the higher priced end of the market and less in the first home buyer price range. It’s been a different story this quarter, with the balance of sales shifting back to the lower end of the market.”REIWA president Hayden Groves

According to the REIWA, Perth’s preliminary median house price for the March 2018 quarter is $510,000, though this is expected to increase to $517,000 once all sales settle, which would put the March 2018 quarter median marginally lower than the December 2017 quarter median by 0.6 per cent. The preliminary median unit price of $401,000 was expected to rise to $410,000, putting it equal to the December quarter median.

Perth listings were up 10.2 per cent on the previous quarter, but down 2.9 per cent year on year. The average selling days also increased over the quarter, though it was still two days quicker to sell than during the March 2017 quarter.


^Words such as "top", "best", "cheapest" or "lowest" are not a recommendation or rating of products. This page compares a range of products from selected providers and not all products or providers are included in the comparison. There is no such thing as a 'one- size-fits-all' financial product. The best loan, credit card, superannuation account or bank account for you might not be the best choice for someone else. Before selecting any financial product you should read the fine print carefully, including the product disclosure statement, fact sheet or terms and conditions document and obtain professional financial advice on whether a product is right for you and your finances.

Compare your product with the big 4 banks, or add more products to compare
As seen on