Hi property insiders,
Let’s take a look at what’s happening in the Perth property market this spring.
We’re well into the season, but the usual surge in new listings hasn’t arrived. Despite the sunshine and longer days, stock levels across the western suburbs — and Perth more broadly — remain remarkably low. Buyers, on the other hand, are out in force. Home opens are busy, and most well-presented properties are attracting multiple offers within days.
Although the much-anticipated interest rate drop didn’t materialise, confidence hasn’t wavered. Many buyers have adjusted to the current rate environment and are pushing ahead with their plans to purchase. The real momentum right now is being driven by first-home buyer incentives, which officially came into effect on 1 October — though they’d already sparked activity from the moment they were announced.
These incentives have supercharged the entry-level market, particularly for apartments and smaller homes around the western suburbs.
We recently listed a unit that had been sitting on the market for three months with another agent. After our first home open, it sold with three competing offers, all well above the price guide. It sat perfectly in that first-home buyer “sweet spot,” highlighting just how strong this segment of the market is right now.
For buyers, preparation is everything. Get your finance pre-approved and be ready to move quickly when the right property comes along.
For sellers, conditions remain firmly in your favour — but presentation and pricing are still the key to maximising competition and achieving the best result.
It’s steady, confident momentum rather than dramatic change this month.
Low supply, strong demand and government incentives are continuing to drive the lower end of the market, keeping things competitive across Perth.
If you’d like to understand how these trends are affecting your suburb or your property, feel free to get in touch — I’m always happy to chat.
Jamie Harrington
Principal, Hub Residential