For the first time in years, the balance of power appears to be tipping — slowly but surely — from sellers back toward buyers. New research from the Real Estate Institute of WA (REIWA) shows more sellers are accepting offers below their listing price than at any point in the past six months.

At a glance:

  • 3 in 10 houses sold below listing price in June, up from 1 in 10 at the end of 2025
  • Average discount on those sales: 7.5%, only slightly up from 6.3% in the March quarter
  • 70% of houses still sold at or above listing price in June
  • Average premium paid over asking has dropped from +6.5% (March quarter) to just +1% now
  • Three interest rate rises since the start of the year have reduced buyers’ borrowing capacity

It’s a meaningful shift, though industry professionals are quick to point out it’s a slight softening rather than a dramatic downturn — most properties are still selling close to their asking price, just with a little more room for negotiation.

What’s Driving the Change

Local agents report a noticeable change in buyer behaviour on the ground. Investor activity has thinned out considerably in recent weeks, leaving first-home buyers and owner-occupiers as the dominant force at open homes. With fewer people through the door, the urgency that once drove multiple same-day offers has eased. Where sellers might once have expected three or four offers after a single open home, it’s now taking several opens to generate just one or two.

According to REIWA President Suzanne Brown, the shift comes down to simple supply and demand. After a shortage of new listings through the second half of 2025 and into early this year, properties have been coming to market in much healthier numbers since late March — giving buyers considerably more choice.

The Federal Budget has also played its part, with changes this year leading to a clear drop in investor enquiries — and, somewhat unexpectedly, softer first-home buyer interest too, likely driven by concerns about falling prices on the east coast and fears around negative equity.

For genuine owner-occupiers planning to stay in their home long-term, that concern is largely unfounded.

So Are Prices Actually Falling?

Not quite. The numbers reflect a market that’s stabilising after a period of rapid growth, rather than one in decline. Increased listings and softer demand have eased the intense competition that was pushing prices up so quickly earlier in the year. Sellers who listed twelve months ago may have grown used to bidding-war-style outcomes — that level of urgency has clearly cooled, even if outright price falls remain the exception rather than the rule.

It’s also worth noting that a 7.5 per cent average discount isn’t dramatically different from the 6.3 per cent recorded back in March — the real story is in the overall average, where the gap between what buyers offered and what sellers asked for has narrowed sharply across the board, not just among the properties that changed hands below asking.

What Agents Are Seeing on the Ground

A Real Estate Agents director Josh Roberts describes the change as a “slight softening” rather than anything more dramatic. Most properties are still performing close to expectations, with only the occasional listing landing slightly under. What’s changed is the pace: buyers are taking longer to commit, and sellers are having to work harder to secure the same number of offers they might have received just months ago.

That shift in urgency is proving popular with buyers, who now have breathing room to think through a decision rather than feeling pressured to act on the spot for fear of missing out.

Buyers vs. Sellers: What It Means for You

If you’re selling:

  • Adjust expectations around both timeline and outcome
  • Expect buyers to compare more properties and take longer to decide
  • Realistic pricing and strong presentation matter more than ever

If you’re buying:

  • You’re less likely to feel rushed into an offer
  • You have far more room to be selective about price and property
  • It’s shaping up to be one of the fairer markets Perth has seen in years

The Bigger Picture

None of this points to a market in trouble. It points to a Perth property market update worth paying attention to — one where supply and demand are finding a more natural balance after an extended period skewed heavily in sellers’ favour. For buyers who’ve felt locked out in recent years, that’s a genuinely positive development.

At Holdsworth Real Estate, we track these shifts closely so our clients can make confident, well-timed decisions — whether that means listing at the right price or finally finding the right home without the pressure of a bidding war.

Weighing up your next move in today’s changing market? Get in touch with our team for tailored, local advice.