Refinancing in Perth: what you need to know in 2025
Perth has been one of Australia's most surprising property markets of recent years — median house prices have surged over 70% since 2020 in many northern and coastal suburbs, driven by the resources sector boom, interstate migration, and historically low housing supply. For Perth homeowners who bought before this surge, equity positions have improved dramatically, often moving borrowers from 70–80% LVR down to 40–55% — a threshold that unlocks significantly sharper rates with most lenders.
Perth also has a unique borrower profile: many households carry high incomes from the mining and resources sector, but those incomes can include FIFO (fly-in fly-out) allowances and variable components that some lenders treat differently. Our panel includes lenders experienced with FIFO income assessment, which can make a significant difference to the rate and loan terms you qualify for.
Is now a good time to refinance in Perth?
For most Perth borrowers, yes — particularly those who haven't reviewed their loan since before 2022. Property growth has improved LVR positions dramatically, FIFO-friendly lenders are actively competing for WA borrowers, and the RBA's rate-cutting cycle is creating a widening gap between old rates and new. Perth borrowers on $500,000–$800,000 loans are finding savings of $350–$550/month available without stretching to find them.
Perth property market snapshot
| Median house price (Perth metro) | $810,000 |
| Median unit price | $480,000 |
| Median new mortgage balance | $536,000 |
| Average existing variable rate | ~6.5% p.a. |
| Our best variable rate (from) | 5.69% p.a. |
| Average monthly saving (our clients) | $420 |
Sources: CoreLogic, ABS, REIWA, RBA. Rates as at June 2025.
FIFO and mining sector borrowers
Perth has a large proportion of FIFO workers whose income includes base salary, site allowances, and overtime components. Standard lender assessments can understate FIFO income by excluding non-base components. We work with lenders who take a complete view of FIFO income, which can substantially improve your borrowing capacity and rate eligibility. If your income includes site allowances, remote area allowances, or regular overtime, tell us upfront so we can target the right lenders.
Perth suburbs we serve
We service all of Greater Perth, including: Cottesloe, Claremont, Nedlands, Subiaco, Mt Lawley, Leederville, Scarborough, Trigg, Karrinyup, Joondalup, Wanneroo, Ellenbrook, Midland, Kalamunda, Fremantle, Applecross, Como, Victoria Park, Canning Vale, Armadale, Rockingham, Mandurah, and all suburbs in between.
WA-specific refinancing notes
Western Australia has no mortgage duty on refinancing, keeping your switching costs low. Discharge fees from your existing lender ($150–$350) and any new lender fees ($0–$600) are the primary costs. WA's Torrens title system is well-established and settlements are typically efficient. One local consideration: some rural and semi-rural WA properties (lifestyle blocks, acreage) require specialist lenders — our panel includes options for non-standard property types across WA.