Smart Bricks Insights: How to Buy a House in Perth With or Without a Deposit (2026 Edition)

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)

Deposit from just 2 %
No LMI
Income limits (2026): Singles < $110 k, Couples < $140 k
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)

5 % deposit, no LMI
35,000 places nationwide in 2026
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

If the cash rate drops from 4.35 % → 3.25 %, a 1 % fall can save roughly $300 per month on a $500 k loan.
Lower rates in 2026 mean increased borrowing power — you can afford more home or pay less interest.
But if inflation stays sticky, the RBA may delay cuts — so always budget for a slightly higher rate than forecast.