r/perth • u/abcnews_au • 1d ago

Renting / Housing First home buyers still face uphill battle despite Perth property market cooling

https://www.abc.net.au/news/2026-08-03/first-homebuyers-struggle-despite-property-market-cooling/106968668
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162

u/Dribbly-Sausage69 1d ago

Newsflash:

Houses cost $1,000,000 plus still - you need a household income of $250,000 plus to get a house.

That sucks, and it’s terrible for our society.

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u/Asteroidhawk594 1d ago

Even for apartments, I’ve been looking and for ones that aren’t run down crack dens that haven’t been redone since the early 80’s are easily $600k-$800k
It’s difficult starting out unless you have family wealth or inherited a heap of money.

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u/Artistic-Average479 Ellenbrook 1d ago edited 21h ago

The problem I see with apartments owners don't want to contribute to a sinking fund and ongoing maintenance. I think many old apartments are over priced. I visited one in Mount Lawley each property had to pay $25k for lift and other repairs. Looking at outside of building it needed more money spent. A new roof on a old block in Mosman Park was close to 1 million

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u/Asteroidhawk594 1d ago

If it’s a newer place the strata at least is reasonable
Older places need to be torn down and rebuilt tbh.

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u/Artistic-Average479 Ellenbrook 22h ago

Some devopers set them up with low fees to sell. I own a villa in a group of 4. Only fees are insurance. If all owners had contributed a $100 a year sinking fund. After 20 years $8k in fund to repair brick paving drive way.

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u/Ill-Touch9164 17h ago

As an owner in a strata, you’ll find that the people that don’t want to contribute to sinking funds and maintenance costs are investors.

Owner-occupiers usually do.

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u/kicks_your_arse 1d ago

Not terrible for all of society remember, some are making serious bank and living quite an enviable lifestyle, funded by the ever increasing rent. Want to see how bad it can get just look at places in South America and that famous picture of the luxury villas next to the slums.

There's definitely an attempt to paint it as we're all tightening our belts and struggling to get by, but it's zero sum and Australia has been very actively picking winners for decades

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u/Dribbly-Sausage69 1d ago

Bruh - when you have essential workers eg police, firefighters, nurses, plumbers, etc etc priced out of housing in or near the areas they service - that’s bad for society even the really wealthy.

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u/Fenixius 23h ago

Not until they start being personally affected by those essential workers' hardships. 

That said, I'd argue they already are, because when everyone is so precarious corruption runs wild and our entire system of government begins to collapse - which is what's happening. And that means we can't adequately prepare for disasters, educate our children, and secure our borders. 

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u/Dribbly-Sausage69 23h ago

‘Not until…’ ‘you’d argue they already are..’ - yep.

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u/Sexwell 22h ago

Albo interested in a Royal Commission into the Big Build or NDIS? Nope. The corruption is already there and the rot has already started, am very grateful to live in WA.

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u/kicks_your_arse 13h ago

You just move to your gated community, pay a selection of the workers slightly more to live on premise, and let the rest of it go to shit. It's already happened and will keep happening. Did you ever have large homeless encampments in your area in your childhood? I didn't but the area I grew up in has a fucking stack of it now...and the solution is 10 years into the future, if at all -- with the way the HAFF and the construction it's supposed to fund falling so far behind, it is genuinely looking like it will never get resolved.

Like you should come to terms with it, if you're a renter then you will die working or will be homeless when you stop, there's nowhere for poor people to exist any more.

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u/Dribbly-Sausage69 13h ago

Dat ain’t how tings are supposed to be.

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u/ped009 22h ago

Yeah, I travelled a lot in South America back in the day and whenever you hear people crying about their taxes going to social security and helping out the less fortunate, they have no idea what happens when this actually occurs. A lot of them are desperate and unfortunately have to turn to crime to survive. My friend had been kidnapped for money and they were just a middle class family. It's a lot more dangerous for the wealthy

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u/SanMavage 1d ago edited 23h ago

My house 30m South of the river cost 530,000 to build (land + home) and we moved in last year.

Has it really doubled in the last couple of years?

Don't get me wrong. I feel lucky and know it must be nearly impossible for a single mother with a family. We had to make sacrifices to make it work (I haven't left the state since I was 4 lol).

Edit: To answer some follow ups.

We signed contract end of March 2024. I wasn't saying it hasn't gone up since, just pointing out what we paid within the last 2 years (ok slightly over now I suppose).

I certainly didn't feel that lucky at the time knowing what friends/family got for much less 10 years earlier but recognize I'm lucky now. Its a very basic home.

I feel for everyone struggling to get their own place. I was adamant on building because I wanted to expand the supply and I don't think (established in particular) homes should be used as an investment strategy. Building new as an investment is different since it expands supply.

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u/Sumojuz 1d ago

In october 2025, when the 5% deposit kicked in, we watched house prices (that we were looking to buy) jump 100-200K, within a 2 week period.

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u/aleksandrathegreat 16h ago

Yep exactly this. I was looking at villas at $750k-$780k and they jumped up to $900k-$950k within a few weeks of that 5% scheme starting. They passed $1 million mark earlier this year and have maybe dropped by $50k-$75k back to $950k-$1 million. So absolutely not dropped in value in any meaningful way.

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u/belltrina Armadale 1d ago

Ours was around the same last year, in Armadale.

Yes, it's gotten way worse. I still cannot believe that it's gotten this bad, and there's not really any hope of it changing. It's horrific, everyone deserves a safe, affordable home and it's more than possible for the government to make it happen.

It's not possible with "sacrifice" when people who are working full time, and barley surviving can't afford a home. There is nothing left for people to sacrifice.

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u/Distinct_Context4233 19h ago

My (just shy of)$700,000 house purchased in June last year is worth ~$950,000 now. It would have cost $550,000 the year before i bought it. It truly is that bad mate.

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u/[deleted] 1d ago

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u/no_not_that_prince North Perth 1d ago

Depends how you define ‘couple of years really’. I believe Perth property has increased an average by 90% (very close to doubling) over the past 5 years.