Affordability prompts Perth’s property stampede
At a time when real estate prices are going through the roof around the country, buyers say they is still a bargain to be found in the West. The trouble is, people are catching on, so demand is causing anxious moment for buyers.
PERTH realtors are reporting high buyer anxiety and agent stress amid a rush for affordable property in the West.
Open homes positioned below the city median are seeing more than 100 inspections in an hour, with multiple bids and inflated sale prices.
REIWA President Suzanne Brown says it’s a very difficult market with so many home-hunters missing out, even in the $1 million to $1.5 million bracket.
“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,” Ms Brown 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.”
One REIWA agent reported a house at Girrawheen in north Perth attracted 110 potential buyers at the first inspection in October.
“The house was offered at “from $690,000” and the final sale price was $850,000,” Ms Brown said. “The agent received more than 45 offers for the property.”
The Girrawheen median sale price of $685,000 is up 17.7% in the year to October 2025, compared to the Greater Perth change of 12.8%. The Perth median is $820,000, according to reiwa.com data.
Neighbouring Balga is up 16.1%, with a median of $650,000, and Koondoola is up 16.8% to $660,000.
Ms Brown said buyers needed to be realistic about the market, flexible in their target properties and suburbs, and stay within their budget.
Agents are seeing clients miss out on three or four homes, then making bids they can’t afford.
“This is not a market members want,” Ms Brown said. “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% Deposit scheme.”
Agents report a steadier and slower market for properties around and above $2 million.
“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.”
