Is Now a Good Time to Upgrade Your Home in Perth?

If you've been putting off upgrading because the Perth property market felt too competitive, it may be worth looking at your options again.

More properties are available and homes are taking longer to sell than they were a year ago. That can give buyers more time to compare properties, arrange finance and make a considered decision.

But whether now is the right time to upgrade comes down to three things: what your current home is worth, what your next home will cost, and what you can comfortably afford.

What's changing in the Perth property market?

REIWA reported 7,812 properties listed for sale at the end of September 2026.

Houses were taking a median of 26 days to sell, compared with just eight days a year earlier.

That gives buyers more breathing room than they had during the most competitive part of the market.

Well-presented family homes in popular suburbs can still attract strong interest, though. Conditions can vary significantly depending on the location, property type and price range.

For families looking to upgrade, that means there may be more opportunity, but you still need a realistic plan for selling your current home.

Are subject-to-finance offers becoming easier?

When competition is intense, buyers can feel pressure to make their offer as attractive as possible. That can make subject-to-finance offers harder to compete with.

As the market becomes more balanced, some sellers may be more willing to consider offers that include finance conditions. That could give you more room to negotiate finance approval timeframes or a settlement period that works for your move.

It does not mean every seller will accept a conditional offer.

Your subject-to-finance clause also needs to be correctly written, with realistic dates and clear requirements. Have the contract checked by your settlement agent or solicitor before signing, and speak with your broker about the finance timeframe.

Pre-approval is not a guarantee of final approval.

Focus on the gap between the two homes

When you are upgrading, it is easy to focus on getting the highest possible price for your current property. But the price of the home you are buying matters just as much.

The better question is: "What will it cost us to move from the home we have to the home we want?"

Look at:

• the likely sale price of your current home
• the home loan that needs to be repaid
• agent and selling costs
• the purchase price of your next home
• stamp duty
• moving costs
• your new home loan repayments.

A softer market can affect both sides of the transaction. You might sell for a little less than you hoped, but you may also have more negotiating room when buying.

Our stamp duty calculator gives you the transfer duty on your next purchase in a few seconds.

Should you sell first or buy first?

There is no single answer.

Selling first gives you certainty around how much money you will have available for your next purchase. The challenge is timing. You may need to find another property quickly or arrange somewhere to live between settlements.

Buying first can give you the confidence that you have secured the right home before selling. But you need a clear plan if your existing property takes longer to sell than expected.

Depending on your circumstances, you may want to explore:

• a longer settlement
• a subject-to-sale offer
• bridging finance.

Each option has different costs and lending requirements.

Work out your sale proceeds before you start shopping

Before heading to home opens, get a realistic idea of what your current home might leave you with after the sale.

Start with the expected sale price. Then subtract your existing home loan, selling costs and other sale expenses. What is left can help form the deposit and costs for your next purchase.

This is also where rising Perth property values may have helped. If you have owned your property for several years, you may have built significantly more equity than you realise. Our equity calculator is a quick way to get a rough figure.

Know your borrowing capacity too

Equity is only one part of the equation.

You also need to know how much a lender may be prepared to lend you and, importantly, what level of repayment you are comfortable with. The maximum a lender will approve and the amount you actually want to borrow are not always the same thing.

Before upgrading, we look at your sale proceeds, your borrowing capacity, your expected repayments and the cash buffer you want to keep after settlement. That gives you a much clearer purchase range.

You can get a starting point with our borrowing power calculator.

Looking to upgrade around Perth?

If you are considering moving from somewhere like Forrestfield, Maida Vale, High Wycombe or Kalamunda, look at both sides of the move.

What are comparable homes selling for in your current suburb? What are suitable family homes selling for in the area you want to move to? How quickly are they selling? And how much extra borrowing would you need to make the move work?

Doing that work before you find the perfect home can take a lot of pressure out of the process.

So, is now a good time to upgrade?

It could be.

More choice and longer selling times can give Perth buyers a little more breathing room than they had previously. But the right time to upgrade is when your finance, sale expectations and family plans all line up.

At Mesh Finance, we can help you estimate the funds available from your sale, work through your home loan options and understand what your next home could mean for your monthly repayments.