Perth Market Update - Only one in 10 houses selling for less than listing price

In Perth’s current property market, the price you see advertised is rarely the price a property will sell for.

Recent data indicates that around 90% of homes are selling above their asking price. This highlights just how competitive the market has become, with strong demand continuing to outstrip available supply.

For buyers, this creates a shift in how you need to approach your property search.

Firstly, the advertised price should be viewed as a guide rather than a definitive figure. Many properties are deliberately priced to attract interest and generate competition, which can quickly drive the final sale price higher.

Secondly, buyer behaviour is changing. With increased competition, many purchasers are moving quickly to secure a property, often making faster decisions in order to stay competitive. While this can be effective, it also reinforces the importance of being well-prepared before entering the market.

This is where having a clear strategy becomes essential.

It’s no longer just about simply understanding your borrowing capacity. It’s about having a realistic view of where properties are likely to transact, being ready to act when the right opportunity arises, and ensuring you engage with a responsive mortgage broker who is willing to support you during the purchase process.

In a fast-moving market like Perth, preparation and clarity can make all the difference. Buyers need to engage with a mortgage broker who takes the time to educate them about the current landscape and help them position themselves correctly so they are better placed to navigate competition and secure the right property.

That's the approach I take at Inca Mortgage Solutions so please get in touch if you are looking for a broker to support you on your home buying journey.