Cast your mind back to 2024. It was a year defined by incredible demand in the Perth property market, homes flying off the shelves, often after the first home open, and frequently selling for well above the asking price amidst a flurry of offers. If you knew someone who sold last year, they likely had a swift and very successful outcome.
However, as we move through 2025, the landscape has evolved. The frenetic pace we witnessed has softened, and it’s crucial for sellers to understand these new dynamics.
What’s Changed in the Perth Market?
Several factors are contributing to this shift:
- Slowing Population Growth: While demand for property remains robust, the rapid rate of population growth we saw previously has eased. This means the intense buyer competition of 2024 has moderated.
- Increased Choice for Buyers: A surge in new listings towards the end of last year has continued into 2025. This means buyers now have more properties to choose from and are generally taking more time to make their purchasing decisions.
- More Cautious Buyers: The “Fear Of Missing Out” (FOMO) that drove buyers to borrow to their maximum capacity in 2024 has given way to more prudent financial considerations. REIWA members report that buyers are now focusing more on what they can comfortably afford to repay.
Key Considerations for Sellers in the Current Climate
If you’re considering selling your Perth property now, your experience is likely to be different from those who sold in the whirlwind of 2024. It’s important to adjust expectations:
- Time on Market: Expect your home to potentially take a little longer to sell compared to last year. While some properties may still sell quickly, the general trend is towards a more measured sales period.
- Price Growth: The rapid price acceleration seen throughout most of 2024 has slowed. In some areas, sellers may need to be more flexible on their initial asking price to meet the market and secure a sale.
- The Myth of the “First Home Open Sale”: While it was common last year, don’t automatically expect your home to sell immediately after the first viewing. A strategic approach over a slightly longer period is becoming more common.
Pricing and Presentation are Paramount
In this more balanced market, two elements become even more critical for a successful sale:
- Strategic Pricing: What your neighbour achieved 12 months ago, or even six months ago, isn’t necessarily the benchmark for your property today. It’s vital to price your home in line with current market conditions. Buyers have more choice and are actively seeking value. Overpriced properties risk being overlooked and may require price reductions later on, potentially leading to a longer time on market.
- Impeccable Presentation: With buyers taking more time and comparing more options, the way your home is presented is crucial. Well-presented homes are still attracting good numbers at home opens and selling within reasonable timeframes. Properties that are not presented at their best may struggle to capture buyer interest.
Your Next Steps with Holdsworth Real Estate
Navigating a changing market requires up-to-date knowledge and expert guidance. At Holdsworth Real Estate, we are constantly analysing local trends and market data. We can provide you with a realistic appraisal based on current conditions in your specific suburb, advise on the best presentation strategies to attract buyers, and develop a tailored marketing plan to achieve the best possible outcome for your property.
Don’t rely on outdated information. If you’re thinking of selling, it’s essential to partner with a local agent who understands the nuances of today’s market.
Contact Holdsworth Real Estate today for a confidential discussion about your property goals and to learn how we can help you successfully navigate the 2025 Perth real estate market. You can also find valuable suburb-specific insights, including median prices, recent growth trends, and average time on market, on the REIWA website.