Buying property in Perth with a dedicated expert

Perth's property purchase market encompasses a range of dwelling types, each with distinct price profiles as of 2024–2025.

• Detached Houses: The dominant property type in Perth. The median house sale price for Greater Perth reached AUD 786,000 in the 2024–25 financial year, representing 16.4% annual growth (source: REIWA, July 2025). By October 2025, Cotality data placed the median house price at AUD 895,089 (source: Cotality via Savings.com.au, October 2025). Entry-level houses in outer suburbs can be found from approximately AUD 500,000–AUD 700,000, while premium inner-western suburb houses regularly exceed AUD 2,000,000–AUD 4,000,000+.
• Units, Townhouses and Apartments: The median unit sale price for Perth reached AUD 540,000 in the 2024–25 financial year, a 20.0% increase year-on-year (source: REIWA, July 2025). By October 2025, the median unit price was AUD 638,868 (source: Cotality via Savings.com.au, October 2025). Units in inner suburbs and coastal locations command higher prices, while outer suburban units offer more affordable entry points. REIWA forecasts approximately 15% unit price growth for the full calendar year 2025 (source: REIWA, 2025).
• Strata-Titled Properties (Apartments and Villas): Strata properties are subject to strata levies (body corporate fees) in addition to the purchase price. Buyers should review the strata plan, by-laws, and financial statements of the owners' corporation before purchasing.
• Vacant Land: Land prices vary significantly by location. Outer growth corridors offer land from approximately AUD 250,000–AUD 400,000, while inner-suburban and coastal land commands substantially higher prices. First home buyers purchasing vacant land to build may be eligible for the AUD 10,000 First Home Owner Grant (source: WA Government, 2025).
• Luxury and Prestige Properties: Perth's prestige market — concentrated in the western suburbs, riverside locations, and beachside suburbs — encompasses properties from AUD 2,000,000 to well above AUD 10,000,000. Wembley recorded 18% median value growth to AUD 1,723,652 in 2024, with an average of 98 buyer enquiries per listing (source: Space Real Estate, 2024).

When purchasing property in Perth, Western Australia, buyers must budget for several costs beyond the purchase price itself.

• Transfer Duty (Stamp Duty): The main government tax on property purchases. As of 2025, the standard rate is calculated on a sliding scale — for example, a property at AUD 700,000 attracts approximately AUD 27,265 in transfer duty, while a AUD 1,000,000 property incurs approximately AUD 42,616 (source: Feasly, 2025). First home buyers benefit from a full exemption on properties up to AUD 500,000 and a concessional rate up to AUD 700,000 (metro/Peel) or AUD 750,000 (regional WA), following the March 2025 threshold increase (source: WA Government / Home Loan Experts, 2025).
• Foreign Purchaser Surcharge: Foreign buyers pay an additional 7% surcharge on the dutiable value of the property, on top of standard transfer duty (source: Feasly / OwnHome, 2025).
• Mortgage Registration Fee: A government fee payable when registering a mortgage over the property, calculated on the loan amount.
• Settlement Agent / Conveyancer Fees: Typically between AUD 800 and AUD 2,500 depending on complexity (source: Rezzi / North Shore Conveyancing, 2025).
• Building and Pest Inspection Fees: Strongly recommended pre-purchase; costs vary by property size and inspector.
• Land Tax: An annual state tax applicable to investment properties (not the principal place of residence) based on the unimproved land value, assessed by the WA Office of State Revenue.
• Council Rates: Annual local government charges, adjusted at settlement on a pro-rata basis.
• Lender Fees: Loan application, valuation, and establishment fees charged by the financing institution.

Buyers should obtain a written quote from their settlement agent and use the WA Office of State Revenue's official transfer duty calculator to confirm their exact obligations before signing any contract.

Before committing to a property purchase in Perth, buyers must conduct thorough legal and technical due diligence. The following checks are essential:

Legal Verifications:

• Title Search: Ordered by the settlement agent from Landgate, the title search confirms the legal owner of the property and reveals any registered encumbrances, including mortgages, caveats, easements, restrictive covenants, and notifications affecting the land (source: North Shore Conveyancing / Title Finder WA, 2025). All encumbrances must be identified and, where applicable, discharged at or before settlement.
• Strata Records (if applicable): For strata-titled properties, buyers should review the strata plan, by-laws, minutes of recent owners' corporation meetings, and the financial position of the strata scheme, including any outstanding levies or planned special levies.
• Local Authority Searches: The settlement agent checks for any outstanding orders, notices, or unpaid rates issued by the local council against the property.
• Zoning and Planning Checks: Buyers should verify the property's zoning with the relevant local government authority to confirm permitted uses and any development restrictions.
• Title Type: Western Australia has several title types (Torrens, strata, survey-strata, green title, purple title). Each carries different ownership rights and obligations. Buyers should confirm the title type and understand its implications before purchasing (source: REIWA).
• FIRB Compliance (foreign buyers): Foreign purchasers must confirm FIRB approval is in place before settlement (source: ATO, 2025).

Technical / Physical Verifications:

• Building Inspection: While not legally required in Western Australia, a pre-purchase building inspection is strongly recommended. Conducted by a licensed builder in accordance with Australian Standard AS 4349.1, it identifies major structural defects, significant non-structural defects, and major maintenance requirements (source: Consumer Protection WA / ThinSpect, 2025). Many buyers include a subject-to-satisfactory-building-inspection condition in the O&A contract.
• Timber Pest (Termite) Inspection: A separate pest inspection checks for termites, European house borers, and other timber-destroying organisms in accordance with AS 4349.3. Given Perth's climate, this inspection is particularly important (source: Consumer Protection WA, 2025).
• Asbestos: Properties built before 1990 may contain asbestos-containing materials. Buyers of older homes should seek specialist advice.
• Retaining Walls and Drainage: Perth's sandy soils and sloping blocks mean retaining walls and drainage systems warrant specific attention during the building inspection.

Property purchases in Perth, Western Australia, are conducted primarily through the Sale by Offer and Acceptance method, which is the dominant transaction process in the state and differs from auction-based systems common in other Australian cities.

The Offer and Acceptance (O&A) Process: A buyer makes a written offer to purchase using the standard REIWA Contract for Sale of Land or Strata Title by Offer and Acceptance. This document sets out the proposed purchase price, deposit amount, settlement date, and any special conditions (e.g., subject to finance, subject to satisfactory building and pest inspection). The seller may accept the offer, reject it outright, or issue a counter-offer. Negotiation continues until both parties reach agreement and sign the contract, at which point it becomes legally binding (source: REIWA / David Beshay Real Estate).

Market Conditions and Negotiating Power: Perth's sales market has been characterised by strong buyer competition and low stock levels since 2021. In this environment, sellers have generally held the upper hand, with many properties selling at or above asking price and with minimal conditions. Buyers should be prepared to act quickly and present clean, well-structured offers.

Key Negotiation Strategies for Buyers:

• Finance pre-approval: Having a formal pre-approval letter demonstrates credibility and allows faster contract execution, which is attractive to sellers.
• Minimise conditions: In a competitive market, offers with fewer special conditions (while still protecting the buyer's interests) are more appealing to sellers.
• Settlement date flexibility: Offering a settlement date that suits the seller can strengthen an offer without increasing the price.
• Engage a buyer's agent: Licensed buyer's agents in Perth specialise in evaluating true market value and negotiating on behalf of purchasers, particularly useful for buyers unfamiliar with the local market (source: Property Wizards / Perth Buyers Agents, 2024).
• Understand the 48-hour clause: In WA, if a seller receives a second offer while a first offer is subject to conditions, the original buyer may be given 48 hours to waive or satisfy those conditions — buyers should be aware of this mechanism.

Auction Sales: While less common than in Sydney or Melbourne, auctions do occur in Perth, particularly for premium properties. At auction, the highest bidder above the reserve price wins unconditionally — no cooling-off period applies.