Perth vendors losing patience: Days on market soar as discounting creeps back in

Perth's property market is showing its first real signs of fatigue, with days on market stretching and vendor discounting re-emerging as a quiet but persistent feature of the sales process.

Data from recent settlement cycles shows that properties across the greater Perth region are now lingering an average of 28 to 35 days before sale, up from the sub-20-day norm that dominated 2024 and early 2025. In inner-city suburbs like Northbridge and East Perth, where buyer demand has traditionally remained strongest, days on market have crept toward 40 days—a significant shift for markets that once shifted stock in a fortnight.

The slowdown is most visible in the mid-range bracket between $650,000 and $850,000, precisely where Perth's median around $680,000 sits. Suburbs like Joondalup and Wanneroo, which have powered growth through the mining-driven recovery, are experiencing their first measurable cooling. Even in these traditionally tight markets, vendors are now offering modest price reductions—typically 1–3 per cent below initial asking price—to secure sales before the school holidays.

"Vendors are adjusting expectations," says the Real Estate Institute of Western Australia's latest activity report, noting that while clearance rates remain respectable, they've compressed from the 70–75 per cent range into the mid-60s. Properties on lifestyle roads near Scarborough Beach or around the Kalamunda foothills are proving more resilient, but even there, negotiation has returned to the negotiating table.

What's driving the shift? Partly, it's seasonal—June markets always soften—but there's structural change afoot. Interest rate expectations have shifted, and buyers are more cautious about overpaying. Conversely, some vendors are selling from positions of strength after years of appreciation, making them willing to accept realistic prices rather than chase speculative premiums.

The sub-1 per cent vacancy rate continues to underpin rental markets, keeping investor interest alive. But for owner-occupiers, the rush has eased. Properties that would have attracted five or six offers in 2024 are now generating two or three.

For buyers, it's a modest reset—not a crash, but a return to a market where patience and realism matter again. For vendors, it's a reminder that Perth's era of effortless appreciation has paused, at least temporarily. How long that pause lasts will depend heavily on wage growth, immigration flows, and whether the mining sector's tailwinds continue to push Perth forward.

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