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According to aggregator AFG, lodgements made by AFG brokers in Western Australia (WA) rose 12.46 per cent quarter on quarter and 37.49 per cent year on year to reach $4.52 billion in Q2 FY2025–26.
This result outpaced all other states. Queensland lodgements increased 4.54 per cent over the quarter and 27.87 per cent annually to $5.90 billion, the second strongest growth trajectory.
Victoria rose 2.66 per cent quarter on quarter and 24.45 per cent year on year to $9.18 billion.
South Australia rose 0.91 per cent quarter on quarter and 22.47 per cent annually.
NSW remained the largest market nationally at $9.92 billion, though volumes slipped 0.53 per cent over the quarter while remaining 19.52 per cent higher than a year earlier.
National lodgements under AFG reached a record $31.55 billion for the quarter.
AFG chief executive officer David Bailey said that WA’s results highlighted sustained momentum in the state.
“Western Australia continues to outperform the national market,” he said.
“Strong demand, constrained supply and population growth are contributing to high levels of activity.”
In Perth, housing demand has continued to surge, despite a record low supply. Annual house price growth in the WA capital reached 15.9 per cent in 2025, the second-highest among the capital cities behind Darwin at 18.9 per cent, according to property analytics company Cotality.
In December, prices rose 1.9 per cent month on month and 7.6 per cent quarter on quarter, the strongest result of any capital city.
By the end of 2025, Perth’s median house price had risen to $940,635.
The median sale time for houses and units was just nine days in December, seven days faster than a year earlier.
WA not only led the country on volume growth in Q2 FY25–26, it also recorded the largest increase in average loan size.
Loan sizes climbed across all major markets, with the average WA mortgage rising from $621,107 in Q1 FY25–26 to $661,027 in Q2, an increase of $39,920 in a single quarter.
By comparison, Queensland’s average loan increased by $34,344 to $701,084, Victoria rose $27,366 to $707,800, NSW lifted $20,195 to $811,757, and South Australia gained $21,005 to $666,897.
Nationally, the average loan size increased by $26,910 to $725,348.
WA’s loan-to-value ratio edged up to 64 per cent in Q2 FY25–26 from 63 per cent in Q1. Queensland increased to 63 per cent from 61 per cent, while Victoria rose to 69 per cent from 68 per cent, the highest among the major states.
NSW held steady at 65 per cent quarter on quarter, while South Australia remained at 64 per cent. Nationally, loan-to-value ratios were unchanged at 65 per cent, remaining below levels seen during the 2021 peak.
[Related: WA brokers warn of limitations of Help to Buy scheme]