What More Listings Could Mean for Perth Buyers and Sellers This Spring

With spring just around the corner, Perth’s property market is heading into the traditionally busy selling season with considerably more choice than buyers have become accustomed to.

REIWA data shows there were 7,204 properties listed for sale across Perth in the week ending 23 August, compared with 3,145 at the same time last year. Earlier in the month, REIWA described the market as transitioning towards more balanced conditions, with new listings returning to longer-term averages and properties taking longer to sell.

So, what could this mean as we head into spring?

More Choice and Breathing Room for Buyers

For buyers, increasing stock is largely welcome news.

During Perth’s particularly competitive market conditions, limited supply often meant buyers had to make decisions quickly and compete strongly for desirable properties. With more homes available, buyers may now have greater opportunity to compare properties, consider their options and make more measured decisions.

Homes are also taking longer to sell. Perth houses recorded a median selling time of 23 days in July, compared with 13 days a year earlier, while units took 19 days. While these are still relatively quick selling times, the change suggests some of the urgency has come out of the market.

That doesn’t mean competition has disappeared. Well-presented properties in sought-after suburbs can still attract significant interest, and conditions can vary considerably between locations and price points.

Sellers May Face More Competition

For sellers, more listings mean presentation, pricing and marketing become increasingly important.

When buyers have fewer properties to choose from, sellers can benefit from scarcity. As more homes come onto the market, buyers can afford to be more selective and compare similar properties before making an offer.

There are already signs of this shift. REIWA reported that discounting had increased, with three in 10 Perth houses selling below their listing price in June. However, this did not necessarily indicate falling property values. Instead, REIWA said it reflected a stabilising market, with increased listings and softer demand reducing some of the intense competition seen previously.

For anyone considering selling this spring, setting a realistic price from the beginning and ensuring the property presents well could become even more important.

Does More Stock Mean Prices Will Fall?

Not necessarily.

While Perth’s market has softened from the extraordinary conditions seen earlier in the year, REIWA's latest forecasts still point to price growth. Perth’s median house sale price reached $938,000 at the end of June, with REIWA forecasting it could approach or exceed $1 million by the end of 2026 depending on the rate of growth over the remainder of the year.

Rather than signalling a downturn, increasing listings may simply be helping Perth return to a healthier balance between buyers and sellers.

An Interesting Spring Ahead

Spring traditionally brings more properties onto the market, and this year buyers are already starting from a position of considerably greater choice.

For buyers, that could mean more time and opportunity to find the right home. For sellers, it means understanding the competition and presenting and pricing a property appropriately will be increasingly important.

And while Perth-wide figures provide a useful indication of the broader market, property conditions can differ significantly from suburb to suburb. Understanding what is happening at a local level remains one of the most important considerations when deciding when — and how — to make a move this spring.