Perth's first-home market stays out of reach as prices stay high

In the inner-city suburb of Mount Hawthorn, buyer’s agent and single parent Tess McKenna scrolls through listings hoping to find a home under $1 million, yet properties around $600,000 have all but vanished. Her experience mirrors that of thousands of Perth first-home seekers confronting a market described by experts as “messy” and “very limited.” Property analyst Gavin Hegney advises buyers to pause and watch for a possible price correction over the next year, while Curtin University professor Steven Rowley notes that Perth has lost its reputation as an affordable state due to strong investor demand and constrained supply.

Government incentives such as the Help to Buy Scheme, the 5 percent Deposit Scheme and WA’s Keystart program have not curbed price growth, and recent federal changes to negative-gear tax rules have not helped. Housing Minister John Carey says the government is focused on adding 50,000 new subdivisions and more medium-density options, but concedes there is no single solution. McKenna remains determined, hoping future reforms will finally make home ownership attainable.