The Greater Perth housing market continues to be a strong sellers' market as we approach the end of November, characterised by intense buyer competition and significant anxiety among those trying to secure a home.
Unprecedented Demand in Affordable Brackets
Agents from the Real Estate Institute of Western Australia (REIWA) are reporting a market where multiple offers are the norm. Selling prices are consistently soaring above the initial asking price, driven by unprecedented levels of enquiry. This frenzy is most acute for properties priced below the Perth median, particularly those within the reach of first homebuyers using government assistance like the expanded Home Guarantee Scheme.
Competition is fierce across the board, but it is especially strong for families searching in the $1 million to $1.5 million range and for first-time buyers in more affordable segments. This creates a highly stressful environment for buyers and the agents who are dealing with their frustration.
A Case Study in Girrawheen
The extreme demand was perfectly illustrated by a single property in Girrawheen. During an October home open, an incredible 110 potential buyers attended. The house was advertised from $690,000 but the final sale price reached a staggering $850,000 after the agent received more than 45 offers.
The home was ultimately sold to a first homebuyer, with the experienced agent stating they had never witnessed such powerful demand. This is reflected in the data: the Girrawheen median sale price jumped 17.7 per cent in the year to October 2025, outperforming the Greater Perth average increase of 12.8 per cent.
Navigating the Competitive Landscape
For buyers hoping to succeed in this market, REIWA advice is clear. Prospective purchasers must be realistic about current conditions, flexible in their choices of property and suburb, and strictly adhere to their budget. The most critical steps are to have finance pre-approved and be prepared to act swiftly to submit a strong offer.
While it is challenging to stay calm, it is important to remember that real estate operates in cycles of supply and demand. Historical reiwa.com data shows that over the last 25 years, the average annual increase for the Greater Perth median sales price has been 7.1 per cent. This long-term perspective includes periods of stagnation and decline, as well as boom years like 2024 which saw a 25 per cent surge.
