The reality of Australia’s housing crisis hits me a little harder each year. It’s no longer just young adults struggling to get a foot on the property ladder – I now find myself advising parents of teens or younger, to start preparing early if home ownership is a future goal. That alone tells us how long this challenge may stay with us.
Anyone looking to buy right now doesn’t need reminding of how competitive the market has become. Supply continues to lag well behind demand, and Perth’s property listings remain at historically low levels. Home opens attract long queues, properties sell within days and offers regularly exceed the asking price. It’s no surprise that many buyers are driven by FOMO and are asking: “Have I left it too late? Should I take a risk and stretch myself to secure something now?”
While I can’t answer those questions without knowing your circumstances, I can offer this: buying a home is an emotional decision and, in an overheated market, it’s even easier to overextend and borrow beyond your means. This can have catastrophic consequences, leading to mental and mortgage stress that results in you being unable to hold on to the home you have worked so hard to secure. The best way to stay grounded is to have the right team around you.
A financial planner can help you understand exactly what you can afford – not the optimistic version, but the realistic one based on your cash flow, commitments and long-term goals. Knowing your genuine borrowing limits reduces the risk of taking on debt that may become unmanageable.
Alongside this, work with a reputable mortgage broker or ensure you have pre-approval in place before you start making offers. Many properties are also being sold off-market, so engaging a buyer’s agent can widen your opportunities and provide early access to suitable homes.
Buying in this environment is challenging, but you don’t need to do it alone. With the right support, you’ll make clearer, more confident decisions, and give yourself the strongest possible start on your path to home ownership.
This article first appeared in the Autumn 2026 issue of HLB Mann Judd Perth’s Client Alert.
Brendan Bate (ASIC No. 1272327) and HLB Wealth Pty Ltd (ASIC No. 428645) are Authorised Representatives of Paragem Pty Ltd (“Paragem”), ABN 16 108 571 875, AFSL No. 297276.
Disclaimer: The information contained in this article has been provided as general advice only. The contents have been prepared without taking account of your personal objectives, financial situation or needs. Before you make any decision regarding any information, strategies or products mentioned in this article, you should consult your financial adviser to consider whether that is appropriate having regard to your personal objectives, financial situation and needs. Please note that any audit, taxation and accounting services are provided by HLB Mann Judd and are not within the authority of Paragem’s AFSL No. 297276.