Perth’s property market is buzzing as new listings reach record levels this Spring, presenting promising opportunities for both buyers and sellers. At Mosaic Settlements, we understand that market timing and trends play a critical role in property transactions, and the current conditions in Perth reveal strong momentum across the board.
High Volume of New Listings Fuels Market Choice
This October, Perth saw over 5,500 new properties hit the market, the highest monthly count since early 2021, with nearly 4,000 of these listings for houses alone. This surge offers more choices to buyers and reinforces Perth’s vibrant real estate climate. With trends pointing to a potential peak in listings by November before slowing in December, this period provides sellers with a prime opportunity to capture buyer interest at a competitive time.
Strong Upward Trends in Sales Prices and Market Value
Median house prices in Perth have continued to climb, reaching $715,000 in October, up 22.2% from last year. Unit sales followed a similar pattern, with the median price rising to $475,000, marking a 17.3% increase year-on-year. This price growth is likely to extend into early 2025, though upcoming federal and state elections and potential shifts in interest rates may influence this trend. Elections often impact market activity temporarily, as buyers and sellers pause to consider housing policies, which are typically front and centre during such campaigns.
Buyer Demand Meets Rapid Turnover Times
Houses and units in Perth sold at a median pace of 11 and 12 days, respectively, reflecting continued demand even amid minor adjustments in market time. Suburbs such as Secret Harbour, Bassendean, and Joondanna led the region with the fastest sales times, often closing within just six or seven days. This swift turnover highlights an active buyer market and high demand across Perth’s property landscape.
Adapting to Perth’s Evolving Real Estate Market
The current conditions in Perth signal a profitable time for sellers to enter the market, with increased listing volumes and continued price growth attracting a motivated buyer base. Buyers, in turn, can take advantage of this broad selection to find their ideal property amid strong competition.
Reach out to Mosaic Settlements
Our team are committed to providing you with a smooth, stress-free transaction experience, whether you’re buying or selling a property in Perth’s evolving market. Our team combines in-depth expertise with local insight to guide you through every phase of the settlement process, ensuring you understand each step and are fully prepared for what’s next. We know that navigating the sale or purchase of a property can be complex and sometimes overwhelming, which is why we focus on clear, proactive communication, aiming to simplify each detail to meet your unique needs.
With Perth’s property market reaching new heights, staying informed and prepared is essential for a successful outcome. Our team assists with everything from document management and compliance to contract preparation and deadline coordination, so you can feel confident in your decisions. If you’re selling, we work to keep timelines on track and minimise any potential delays, helping you reach your goals smoothly. For buyers, our support ensures that your new property is in order and that any legal or regulatory requirements are met, setting you up for a successful start.
Contact us today to experience professional settlement support tailored to Perth’s dynamic property landscape. Start your journey with confidence, knowing you’re in capable hands.
