Perth Homes Selling at Record Speed as Spring Listings Stay Low

Perth’s housing market continues to defy expectations this spring, with homes selling faster than ever despite fewer new listings. The combination of strong demand and low supply is reshaping conditions for both buyers and sellers across the city.

In September, the median sale time for houses dropped to just eight days, two days faster than August and significantly quicker than this time last year. Units also moved quickly, with median times sitting at nine days. Some suburbs are seeing properties sell in as little as four to six days, reflecting just how competitive conditions have become.

The number of active listings remains well below average, with many homeowners reluctant to sell before securing their next property. This shortage is creating a highly competitive environment, where buyers must act quickly and come to the market prepared.

The speed of sales is contributing to strong price growth. Perth’s median house price rose to $810,000 in September, up 1.3 per cent on the previous month and more than 13 per cent higher year-on-year. Unit prices also climbed, with the median reaching $560,000 – nearly 18 per cent above levels seen a year ago.

Several suburbs recorded standout growth in house prices, including Mount Pleasant, Nedlands, Como, Duncraig and Kingsley. Other areas such as Stirling, Spearwood, Balcatta, Inglewood and Ellenbrook also posted solid gains, highlighting widespread demand across Greater Perth.

Rental conditions show no sign of easing. The median dwelling rent held steady at $680 per week in September, but remains nearly five per cent higher than last year. While house rents dipped slightly to $695, unit rents rose to $663. Leasing times remain competitive too, with some suburbs seeing homes leased in just 10 to 12 days.

With sales accelerating, listings in short supply and prices climbing, Perth’s property market is moving at an unprecedented pace. Both buyers and sellers will need to adapt quickly to stay ahead in this fast-moving environment.

If you'd like to talk about how this will affect your property plans, don't hesitate to contact the team at Bellcourt on 08 6141 7848.