Perth vendors face reality check as days on market stretch and discounting pressure mounts

Perth's property market is sending clear signals to vendors: price competitively, or watch your listing languish. New data on days on market (DOM) and vendor discounting trends reveals a subtle but significant shift in market dynamics, even as the city remains one of Australia's fastest-growing capitals.

Across the metropolitan area, median days on market have crept upward to 24–28 days for houses in the $600k–$800k bracket, a notable increase from the 18–21 day average recorded 18 months ago. In sought-after suburbs like Joondalup and Wanneroo, where demand typically outpaces supply, properties are still moving relatively briskly. However, outer suburbs and prestige pockets tell a different story.

Real estate agents report that vendors expecting previous-cycle growth margins are meeting buyer resistance. Properties listed above $900k in suburbs such as Dalkeith and Nedlands are experiencing DOM figures stretching into the 35–45 day range. Meanwhile, smart pricing in middle-ring suburbs—Leederville, Mount Lawley, and even emerging Belmont precincts—continues to attract multiple offers within two weeks.

Discounting pressure is most evident in the sub-$700k segment, where first-home buyers and investors remain highly price-sensitive. Agents indicate vendors are increasingly accepting 2–4 per cent reductions from initial asking prices to secure sales before winter auctions peak. Some sellers are adopting pre-auction negotiation strategies, effectively discounting early rather than publicly cutting prices later—a tactic that protects perception while acknowledging market reality.

The sub-1 per cent vacancy rate across Perth continues to underpin underlying demand, and the mining sector's strength keeps employment confidence relatively robust. However, buyers are taking longer to commit. Rising interest rates and cost-of-living pressures mean fewer households are bidding against each other on a single property—a reversal of the post-pandemic frenzy.

Agents in Subiaco and Cottesloe report that premium properties are experiencing the most extended DOM cycles, as international relocation interest has softened. By contrast, townhouses and apartments in mixed-use precincts near the Joondalup City Centre and Perth's northern employment corridors remain competitive, with DOM hovering below 20 days.

The message for vendors is clear: realistic pricing from day one remains the fastest path to sale. Properties priced 3–5 per cent below comparable recent sales in the same suburb are selling within 15–18 days. Those overpriced face the arithmetic of DOM creep, markdown fatigue, and ultimately, a harder sell.

For buyers, the extended DOM trend is a rare Perth opportunity to negotiate. With vacancy rates so tight, the advantage remains structural—but it belongs increasingly to those willing to act decisively on fairly valued stock.

This article was compiled by AI from the sources linked above and screened before publishing. See our editorial standards.