How to Buy a House in Perth With or Without a Deposit (2026) | Smart Bricks Insights
Learn how to buy your first home in Perth in 2026 with or without a deposit. Explore Perth’s best suburbs, costs, grants, interest-rate forecasts, and finance tips.
Why Perth Still Leads for First-Home Buyers in 2026
Perth remains Australia’s most affordable capital city for first-home buyers, offering a rare mix of low entry prices, strong population growth, and rising infrastructure investment.
With Perth’s median house price around $620,000 in 2026, the gap between it and Sydney (≈ $1.15 million) or Melbourne (≈ $830 k) is still enormous which means you can buy sooner and keep your repayments lower.
Even better?
WA continues to offer the most generous support programs in the country — like Keystart, Shared Equity, and the First Home Owner Grant (FHOG) making it realistic to buy even with a smaller deposit.
Top Perth Suburbs to Buy in 2026 (With Land Sizes & Why They’re Hot)
| Suburb | Median Price | Typical Homes | Land Size | Why It’s Smart | Where to Find Homes |
|---|---|---|---|---|---|
| Baldivis | ~$540 k | 3–4 bed new homes | 350–500 m² | Family-friendly, new estates, coastal access | Domain, REIWA |
| Ellenbrook | ~$500 k | 3–4 bed modern | 300–450 m² | New METRONET line, big growth corridor | Realestate.com.au |
| Byford | ~$530 k | 4 bed homes | 375–550 m² | Strong demand, schools, lifestyle focus | REIWA, Peet |
| Alkimos | ~$570 k | 3–4 bed coastal | 350–450 m² | Beaches + infrastructure upgrades | Stockland, Peet Estates |
| Armadale | ~$460 k | 3 bed older homes | 600–800 m² | Entry-level, large blocks, solid yields | Domain, LJ Hooker |
| Yanchep | ~$560 k | 4 bed modern | 400–500 m² | Rail extension done, coastal appeal | Stockland |
| Midland | ~$500 k | 2–3 bed townhouses | 200–350 m² | Close to CBD, affordable urban living | REIWA |
| Morley | ~$650 k | 3–4 bed | 500–700 m² | Redevelopment, new transport links | Ray White |
Smart Bricks Tip: For growth and lifestyle, focus on the north-west coastal corridor (Yanchep, Alkimos) or south-east growth belt (Byford, Armadale). Both combine infrastructure upgrades with affordable land.
How Much You’ll Need as a First-Home Buyer in Perth (2026)
| Cost Type | Approx. Amount | Notes |
|---|---|---|
| Deposit (5%) | $27,500 | Minimum for $550 k home |
| Stamp Duty (after concessions) | $2,800 | Exempt ≤ $450 k; discounted ≤ $530 k |
| Legal/Conveyancing | $1,200 | WA licensed settlement agent |
| Building & Pest | $500 | Always do one! |
| Loan Setup/Valuation Fees | $800 | Often waived for FHBs |
| LMI (if < 20%) | $12–15 k | Avoid with Keystart or FH Guarantee |
| Insurance/Utilities/Moving | $3,000 | Realistic buffer |
| Estimated Total | $45 k – $50 k | Typical first-home setup cost |
Buying With Little or No Deposit in 2026
Even with prices climbing, WA still has low- and no-deposit options for qualified buyers:
Keystart Home Loans (WA Government)
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Deposit from just 2 %
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No LMI
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Income limits (2026): Singles < $110 k, Couples < $140 k
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Owner-occupiers only
keystart.com.au
Family Guarantee Loans
Parents/relatives use their home’s equity as security → you borrow 100 % and skip LMI.
Shared Equity Home Buyer Program
The WA Government co-owns up to 30 % of your home.
You repay their share when you sell/refinance ideal for moderate earners.
First Home Guarantee (Federal)
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5 % deposit, no LMI
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35,000 places nationwide in 2026
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Must live in the home
First Home Super Saver Scheme (FHSSS)
Withdraw up to $50 k of voluntary super contributions to use as a deposit.
ato.gov.au/fhsss
Perth First-Home Buyer Grants & Schemes (2026 Update)
| Scheme | Benefit | Eligibility |
|---|---|---|
| WA FHOG | $10 k for new builds | First-time buyers only |
| Stamp Duty Exemption | Save up to $13 k | Homes ≤ $450 k; discounted ≤ $530 k |
| Keystart Loan | 2 % deposit, no LMI | WA residents |
| Shared Equity Program | Up to 30 % co-buy | Income-tested |
| FHSSS | Up to $50 k from super | National scheme |
Interest-Rate Predictions for 2026 — and What They Mean for You
After two years of tight monetary policy, Australia’s major banks now predict interest-rate cuts through 2026 as inflation cools.
| Source | Predicted RBA Cash Rate (End 2026) |
|---|---|
| NAB | ~3.35 % |
| CBA | ~3.10 % |
| Westpac | ~3.25 % |
| RBA Outlook | Gradual easing — still above pre-pandemic lows |
What This Means for Perth Buyers
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If the cash rate drops from 4.35 % → 3.25 %, a 1 % fall can save roughly $300 per month on a $500 k loan.
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Lower rates in 2026 mean increased borrowing power — you can afford more home or pay less interest.
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But if inflation stays sticky, the RBA may delay cuts — so always budget for a slightly higher rate than forecast.
Smart Bricks Insight
“Buyers who enter the Perth market early in 2026 — before rate cuts fully flow through — may enjoy lower competition and benefit later as affordability improves.”
Step-by-Step: How to Buy a House in Perth (2026)
1️⃣ Check borrowing capacity — use online calculators or a broker
2️⃣ Confirm eligibility — Keystart, FHOG, Shared Equity
3️⃣ Get pre-approval
4️⃣ Pick your suburb (see top areas table)
5️⃣ Find listings:
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Developer sites (Peet, Satterley, Stockland)
6️⃣ Hire a conveyancer
7️⃣ Apply for grants/schemes
8️⃣ Sign → Settle → Move In 🎉
Perth vs Sydney & Melbourne (2026 Snapshot)
| City | Median Price | Avg. Land Size | Rent (Weekly) | Why Perth Wins |
|---|---|---|---|---|
| Perth | $620 k | 400–500 m² | $680 | Affordable + growth corridor |
| Melbourne | $830 k | 300 m² | $720 | Higher entry cost |
| Sydney | $1.15 M | 250 m² | $850 | Least affordable capital |
Final Thoughts: Why 2026 Is Still the Smart Year to Buy in Perth
With interest-rate cuts on the horizon, strong population growth, and government support programs still active, 2026 offers first-home buyers a rare window to enter before prices climb further.
Perth’s combination of affordability, liveability, and policy support continues to make it the best capital city for new homeowners in Australia.
Smart Bricks Insight: Whether you’re saving a 2 % deposit or ready to buy outright, Perth’s 2026 market rewards early movers — not spectators.
