The Perth Property Market Is Changing

After a period of incredibly tight supply and strong buyer demand, more properties are now coming onto the market, giving buyers more choice.

REIWA recently reported that Perth listings have passed 7,000 for the first time in more than three years. And the latest data shows the shift is starting to flow through to prices. REIWA’s June quarter report found that Perth’s median house sale price fell 2.0 per cent over the quarter to $980,000 – although it remained 18.7 per cent higher than the same time last year.

If you’ve been waiting for the market to catch its breath, this shift is significant. But it doesn’t mean the Perth market has suddenly turned bad. It means buyers are becoming more selective.

REIWA has described a clear shift in the market, with buyers becoming more prudent and price sensitive as demand eases and they have more choice.

When there are fewer homes to choose from, buyers can be willing to overlook things. When they have options, presentation, condition, price and that all-important first impression start to matter more.

For sellers, this is where preparation can really make a difference. It’s not necessarily about spending thousands renovating before you sell. Sometimes it’s about seeing your home objectively, making the spaces work harder, editing what’s there and presenting it in a way that makes buyers want to stay a little longer.

That’s why we include our complimentary Style, Stage & Sell service with eligible listings – using our own furniture, homewares and artwork alongside what’s already in the home to make the most of what’s there.

The Perth market may be changing, but that doesn’t mean sellers need to panic. It simply means the days of putting up a For Sale sign and waiting for the offers to roll in may be changing too.

When buyers have more choice, giving them a reason to choose your home becomes even more important.