Perth real estate agents report the Spring 2025 market is one of high buyer anxiety and high agent stress.
REIWA President Suzanne Brown said agents report properties attracting multiple bids, selling prices well above asking and some home opens in price ranges below the Perth median seeing more than 100 groups in less than an hour.
"This is a very difficult market, especially in first home buyer price brackets, as well as for families searching in the $1 million to $1.5 million range," she said.
"It is extremely stressful for buyers trying to secure an affordable home, and for agents who have house hunters venting their understandable disappointment and frustration.
"If a property is in the first home buyer price range or priced below the Perth median, agents report properties are simply flying out the door."
One REIWA agent reported an October home open in Girrawheen attracted 110 potential buyers at the first home open.
"The house was offered at "from $690,000" and the final sale price was $850,000. The agent received more than 45 offers for the property," Ms Brown said.
"This is an experienced agent who said they had never seen anything like it and could not have predicted the level of demand for the home. The home sold to a first home buyer."
The Girrawheen median house sale price is up 17.7 per cent between October 2024 and October 2025, compared to the Greater Perth change of 12.8 per cent. The median house sale price for Girrawheen sits at $685,000, below the Perth median of $820,000. (reiwa.com data as at 14/11/2025)
Neighbouring Balga is up 16.1 per cent, with a median house sale price of $650,000, and Koondoola is up 16.8 percent to $660,000. (reiwa.com data as at 14/11/2025)
Ms Brown said home buyers, especially first home buyers, needed to be realistic about the market, be flexible in their target properties and suburbs, and stay within their budget.
"With median selling days near record lows at 9 days or so, our agents tell us that it is important to act quickly and have your finances pre-approved, so you can make your best offer," she said.
"What agents are seeing and do not want to see, is home buyers missing out on three or four properties and becoming increasingly anxious, and then making offers well outside their preferred budget.
"REIWA agents know first-hand the pain house hunters are experiencing. This is not a market members want.
"Talk to your local REIWA agent about what might be coming to market. Discuss what the likely process is for receiving offers, as it differs from agent to agent, and do your research before the first home open."
Ms Brown believes the problem continues to be the low level of listings.
"Last year in October we saw the seasonal large increase in the number of homes listed for sale. We are only seeing a small uptick in listings this year, and what comes to market in most price brackets is quickly snapped up," she said.
"For the week ending 16 November, the total number of properties available for sale was 6.8 per cent higher than four weeks ago, but 44.3 per cent lower than levels seen a year ago.
"There is simply not enough stock on the market to meet demand. And we are seeing an increase in the number of qualified buyers due to the Federal Government's 5 per cent deposit scheme.
"The low level of houses available to purchase means home owners who may want to change or upgrade remain unwilling to list, due to fear of failing to secure an appealing new home.
"In a market where agents are telling us they have 10, 27, 45, or even 47 offers on a single property, many buyers will not look at a subject to sale offer."
Ms Brown said it was important for potential buyers and sellers to remember that real estate is subject to supply and demand market dynamics.
"Over the last 25 years, reiwa.com data tells us the average annual increase in the Greater Perth median sales price was 7 per cent per year.
"The 25-year period from the year 2000, includes years of zero per cent growth and even negative years. It also includes years like 2024, where the median sales price increased by 25 per cent.
"There are also some pockets where reported activity is changing.
"Investors are still active, but our members report demand is strongest among first home buyers, local and often first-time investors, and families wanting to secure a new home."
For properties around and above $2 million, agents report a steadier and slower property market.
"Many properties are staying on the market for a number of weeks, and while there may be several offers, home opens have a regular number of attendees and sales are transacted at a slower pace and within the expected price range."
