First homebuyers take the lead in Perth’s new land market

First homebuyers have been steadily growing as a proportion of Greater Perth’s new housing market since mid-2025, according to the latest new land sales data from UDIA WA.

In the September 2026 quarter, first homebuyers accounted for 55.7 per cent of the new land market, compared with 31.4 per cent for owner-occupiers and just 12.8 per cent for investors. That proportion is an increase from 51.9 per cent last quarter and 29.8 per cent in the June 2025 quarter, when investors made up 28.9 per cent of the Greater Perth market.

The growth in first homebuyers’ share of the Perth market has come despite steadily rising new land prices and limited new land supply over the past few years.

The data shows Perth remains one of Australia’s most accessible capital city housing markets, despite recent price growth. Homeownership remains a cornerstone of financial security, and it is pleasing to see so many Western Australians able to take this important step.

There is also positive news for those still in the market to purchase a new home, with new land supply levels starting to improve off the back of collaborative efforts between private industry, the State Government and the Federal Government to get more homes on the ground faster.

The number of lots on the market as of September 30 rose to 977, which was a 112.4 per cent increase on the previous quarter and shows there is growing choice available to buyers.

Construction levels for lots expected to be released in the next six months have also increased by 5.4 per cent. However, lots under construction for release in the next six to 12 months have declined by 18.7 per cent.

Overall, new land sales declined by 14.6 per cent this quarter following a moderation in consumer sentiment.

Prices have also moderated slightly, with the average price of new land in Greater Perth now $431,382, which is down 1.7 per cent over the quarter, but still relatively high given it is off the back of a record peak in prices in the last quarter, when the average price of new land was the highest ever recorded by UDIA WA, at $438,882.

The price of new land back in September 2025 was $377,535, while the five-year average last quarter was $313,007.

The City of Wanneroo recorded by far the strongest sales numbers, with 734 new lots sold at an average price of $419,307. The City of Armadale followed, with 319 lots sold at an average price of $409,624.

Wanneroo also had the most lots under construction, with 2983 expected to be released in the next 12 months. The Shire of Serpentine Jarrahdale followed with 1138 lots under construction.