Pockets of the Perth property market have shifted in favour of buyers as the spring selling season loses momentum and pre-finance approvals reported by a major mortgage broker have fallen by half.
The slowdown is being felt most clearly in areas where purchasers are more dependent on borrowing, with tighter lending conditions reducing the number of people able to compete for homes.
That has given some buyers greater scope to negotiate on price and terms, after several years in which limited stock and intense demand allowed sellers to dictate conditions.
The change is not uniform across the city. Well-located homes and properties in highly sought-after suburbs continue to attract interest, while other parts of the Perth property market are taking longer to secure offers and facing more cautious buyers.
Perth property market listings rise as demand eases
Figures published by the Real Estate Institute of Western Australia show 7,352 properties listed for sale in the Perth metropolitan area in the week ending 6 September, compared with 6,852 four weeks earlier and 2,905 at the same point last year.
The institute recorded 688 sales during the week, below the 743 transactions reported four weeks earlier and the 823 recorded during the corresponding week in 2025.
REIWA has previously said that buyer urgency was easing, with fewer people attending home opens, fewer offers being made and more negotiations taking place as listings increased and borrowing power came under pressure.
The organisation’s president, Suzanne Brown, said in April that higher interest rates were reducing buyers’ capacity to borrow and making households more sensitive to asking prices. REIWA’s latest market data puts Perth’s median house price at $960,000, based on transactions recorded in the 12 months to the end of August.
The rise in available properties marks a significant change from the severe shortage that characterised much of the market. However, the latest figures suggest that additional supply is arriving at a time when finance-constrained buyers are becoming less willing or able to stretch their budgets.
For sellers, the shift means that pricing expectations may need to be reassessed, particularly in suburbs where buyers have more choice. For purchasers with secure finance, the softer conditions could provide an opportunity to negotiate before competition strengthens again.
