Perth’s property market is scorching hot and badly undersupplied. According to recent REIWA data, homes now sell in an average of just 8–9 days – about three days faster than this time last year. In fact, leading Perth suburbs are flying off the market: Girrawheen properties spend only 4 days on the market, while Bassendean and Langford homes sell in about 5 days. Open homes are packed (30+ groups at some recent viewings) and sellers are hanging onto their properties, fearing they won’t find a replacement. Tight listings plus surging demand is driving prices up, so Perth remains one of Australia’s fastest-growing markets (even propelling prices ~90% higher since 2020).
- Act fast and be prepared. With houses selling in under a fortnight, buyers must move quickly. Have your finance pre-approved and documents ready so you can submit an offer immediately. Getting that loan pre-approval in place is crucial to making firm offers in today’s market. Check listings daily and be first in line at open homes. Many Perth buyers find the right house at the very first open inspection – in some suburbs, properties sell after one open home.
- Get help from a buyers agent. In a tight market, a local buyer’s agent can make all the difference. We are experts in locating off-market forces and private listings that the vast majority of buyers do not have access to. These agreements can bypass the heat of public competition, often fetching the home at a better price than advertised stock. A good agent also keeps you disciplined. We combine data and local market knowledge to help you avoid bidding wars spurred by FOMO and keep you on budget.
- Think long-term growth. With fewer homes for sale nationwide (new listings are about 18% below the decade average), prices are set to keep rising. Buying now means capturing more future equity. For example, Perth house prices have already jumped roughly 90% since early 2020. By purchasing in growth corridors and emerging suburbs now, buyers lock in the advantage of future infrastructure and demand. Competition will remain intense, even with incentives such as the expanded First Home Guarantee on the way in 2025.
In short, time is of the essence in Perth’s hot market. As REIWA President Suzanne Brown points out, when supply is that tight, you have to be prepared to move quickly. Partner with a Perth buyer’s agent for a competitive advantage: we tap into our local networks to identify your options early and fast-track negotiations. In this seller’s market, every property matters, so make sure you have your strategies in place and that your bids are responded to quickly.
Need expert help? Reach out to Key2Dreamz. Our Perth-based buyer’s agents will help you move fast and confidently in this competitive market. Call us at +61 439 260 917 or book a free consultation to discuss your needs. For more insights and property news, check our Real Estate News blog or contact Key2Dreamz to get started.