Q1 2025
The Perth real estate market continues to outperform most eastern states, with strong buyer sentiment underpinning solid activity levels across the board. While buyers are showing more caution than during the frenzied post COVID period taking a more considered approach and not rushing in with inflated offers, we are still consistently seeing multiple offers on homes, particularly in desirable suburbs. Our last 6 or 7 properties have all sold with more than 4 offers per home. Properties that are fully renovated or near-new, especially family homes, are commanding the most attention and achieving premium prices. This reflects a broader trend of families steering clear of major renovation projects or new builds due to time, cost, and uncertainty, preferring turnkey options that allow for a smooth transition.
The broader economic outlook, particularly the anticipation of further interest rate cuts, is adding another layer of urgency for buyers who are eager to secure their next home before competition intensifies. Many remember how quickly the market escalated during the last surge and are keen to avoid a repeat of that environment. Overall, Perth’s market is in a sweet spot with enough activity to achieve strong sale outcomes, yet conditions are more measured and navigable for buyers than they’re likely to be in 12 months’ time. It’s a market that offers genuine opportunities on both sides of the transaction.
The message from the team here at Mint for those contemplating selling or leasing, is that the current conditions present fantastic opportunities to capitalise on your property asset. We have been busy with appraisals and we anticipate 2025 being another busy year here in the West.
Publish Date: 01/04/2025
The details noted above including any figures or statistics given are based on information provided by multiple sources including the Western Australian Land Information Authority, Corelogic, REIWA, domain.com.au and realestate.com.au. The statistics noted include results performed by multiple agents and agencies. Whilst all reasonable effort has been made to ensure the enclosed information is correct at the time of publication, Mint Real Estate does not warrant or guarantee the accuracy or completeness of the data.
