The Perth property market is currently experiencing a noticeable shift, with conditions moving away from the rapid sales cycle of recent years toward a more balanced, if more cautious, environment for both buyers and sellers.
What’s changing in the market?
Across Perth, we are seeing:
- Listings increasing steadily
- Properties taking longer to sell
- Reduced buyer enquiry and lower home open attendance
- Offers coming in below asking price more frequently
This aligns with broader market data showing homes are now taking significantly longer to sell compared to the recent boom period REIWA News – Homes taking nearly twice as long to sell.
Investor activity has slowed
Rockingham, historically a strong entry-point market due to its lower median price compared to the Perth average, became a hotspot for eastern states investors over the past three to five years. In fact, approximately half of our office sales during this period were to investors, predominantly from the eastern states.
However, recent economic and policy changes have impacted this activity:
- Two recent interest rate increases have reduced borrowing capacity
- Federal Budget discussions around negative gearing adjustments have created uncertainty
- Investor confidence has softened, leading to reduced enquiry and fewer competitive offers
As a result, we are now seeing:
- Lower buyer enquiry levels
- More conservative offers
- Longer days on market across many suburbs
What this means for sellers
With property prices adjusting and buyer behaviour shifting, sellers need to approach the market more strategically than in previous years.
Key considerations include:
- Property prices have been affected — realistic pricing is now critical to attracting interest
- Updated appraisals are essential — if you haven’t reviewed your property value recently, now is the time
- More stock is expected post-July — as owners meet with accountants and reassess investment positions, listings are likely to increase
- Greater choice for buyers = longer selling times — making presentation and pricing more important than ever
- Opportunity for upgraders — softer conditions can create favourable buying opportunities for those looking to move up the property ladder
Advice from industry leadership
Summit Realty General Manager Brock Gurr highlights the importance of adapting to current conditions:
“Be ready and prepared to negotiate with Buyers. Don’t dismiss any offers in this new market.”
He also notes that while conditions have shifted, not all markets are moving in the same way:
“Rockingham could be an outlier in the market, as continued investment from the Government and private business to accommodate AUKUS will drive Buyer interest and confidence.”
Looking ahead
While the market is currently adjusting, it remains active and opportunity-driven. Buyers now have more choice and time, while sellers who position their property correctly are still achieving strong results.
The key difference in this cycle is expectation, strategy, pricing, and negotiation have become more important than speed alone.
For many homeowners, this may also be the right time to revisit their property value and understand where they sit in the current market before making their next move.
Ready to understand what your property is worth?
If you’re thinking about selling, upgrading, or simply want clarity on where your property sits in today’s market, our team can help with an updated, no-obligation appraisal.
Get in touch with us today to book your property appraisal or speak with a local property expert - email reception@summitrealty.com.au