A clear layer of caution is building in the Perth property market. Recent REIWA data shows homes are now taking longer to sell, with median selling time rising from 9 days in February to 16 Days in July - almost doubling in 5 months. While this signals a cooling in momentum, it does not yet point to weaker prices. Ray White data for WA suggests values are holding firmer than expected, with buyers still remaining active despite budget pressures, rate uncertainty and broader geopolitical tension. However, conditions have shifted, with more measured decision-making now evident across the market. National Ray White data also points to lower home open attendance, fewer multiple-offer scenarios, and a stronger focus on value and presentation. Strategic pricing and marketing are becoming increasingly important for sellers, while buyers are gaining more scope to compare options. Subject-to conditions are also becoming more common than in recent years, reflecting a more cautious and negotiated phase of the market. Overall, the market is transitioning toward a more balanced environment—still underpinned by demand, but defined by selectivity, realism and longer selling timelines. MARKET TALK Ben -
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