Are We Still in a Seller’s Market?

Western Australia’s property market has shown sustained strength over the past two years, but many buyers and sellers are now asking the same question — are we still in a seller’s market?

Based on current conditions across Perth and much of WA, the short answer is yes — although the pace of growth has stabilised compared to the rapid gains of 2023 and early 2024.

Low Supply Is Still Driving Conditions

One of the clearest indicators of a seller’s market is limited housing supply. Active listings across Perth remain below long-term averages, despite seasonal increases at the start of the year. While new listings typically rise through February and March, total stock levels are still considerably tighter than historical norms. Low supply means buyers have fewer options, which continues to support competition — particularly in well-located suburbs close to amenities, schools and transport.

Homes Are Selling Quickly

Another sign of a seller’s market is how long properties spend on the market. Across Perth, median days on market remain relatively low compared to pre-2022 conditions. Well-presented homes in desirable suburbs are often attracting strong interest early in a campaign, with some selling within days. However, buyers are becoming more discerning. Properties that are overpriced or poorly presented are no longer moving as quickly as they did at the peak of the recent surge.

Price Growth Has Moderated — But Remains Positive

After double-digit annual growth in recent years, price growth has continued into 2025, though at a more measured pace. This moderation does not signal a downturn. Rather, it reflects a market that is finding a more sustainable rhythm while still supported by strong fundamentals — including population growth, tight rental conditions and constrained new housing supply.

Interest Rates and Buyer Behaviour

While interest rates have influenced borrowing capacity, demand has remained resilient. Many buyers have adjusted expectations rather than exiting the market entirely. First-home buyers remain active in more affordable corridors, while upgrader and investor activity continues where value and rental demand align.

So, Is It Still a Seller’s Market?

In many parts of Western Australia — particularly Perth — conditions still favour sellers due to:

• Limited housing supply
• Ongoing population growth
• Strong rental demand
• Relatively fast selling times

That said, it is no longer a “one-size-fits-all” market. Strategy, pricing and presentation matter more now than they did during peak competition.

For sellers, realistic pricing and strong marketing remain key.
For buyers, preparation and informed decision-making are essential.

As always, local dynamics vary by suburb, property type and price point. Understanding those nuances can make a significant difference in achieving the right outcome.