Living in Perth, you know the property market can vary dramatically from one suburb to the next—sometimes suburbs that are right next to each other can experience completely different market dynamics. General market updates often overlook these local differences as they are for Perth as a whole, so they might not always reflect your own buying or selling experience. We’ve found that these general reports often don’t align with the trends we’re experiencing in Perth’s western suburbs. To provide a clearer picture of what's really happening in each suburb, we've chatted to our property consultants for an in-depth look at how each suburb is performing.

WEMBLEY & WEST LEEDERVLLE

In Wembley and West Leederville, the property market is vibrant and diverse, with buyers ranging from first-home buyers eager to get their foot in the door to families seeking larger homes and those ready to downsize. The most coveted properties are family homes, particularly those priced in the mid $1 million range. Higher-end properties, priced between $2 million and $3 million are in demand, but they're not as common, which leads to quicker sales for well-presented homes—often within a week or two. That said, homes with unique layouts could take longer to sell, as buyers often prefer more standard, conventional designs.

The current gridlock in the market is largely due to a shortage of available stock, which is causing many sellers to hesitate as they struggle to find their next home. Even though it might seem like interstate buyers are flooding the market, we’re finding that local interest remains strong and active in these areas. As we approach spring, we expect an increase in listings, which should ease some of the market’s tight conditions. In the meantime, home opens are continuing to attract significant interest, especially on weekends.

If you want to learn more about the Wembley and West Leederville property market, contact your Wembley and West Leederville Specialist Craig Gaspar on 0413 929 999.

SUBIACO & SHENTON PARK

In the Subiaco and Shenton Park area, the property market is very lively, driven by families looking to upsize and sellers aiming to offload investment properties or downsize. The most in-demand homes are 3-bedroom properties around $1.5 million and 4-bedroom-plus homes between $2.5 million and $3 million.

Although most properties in the area are selling quickly, those with unusual layouts tend to stay on the market longer because buyers often prefer more traditional designs. The main challenge is finding suitable replacement properties, causing many buyers to delay their purchase. Interest rates have also influenced the market, with recent hikes making buyers more cautious.

We’re seeing increased enquiries from interstate, particularly from Queensland and New South Wales. As we head into spring, we’re likely to see more properties coming onto the market, which should ease some inventory shortages. Home opens continue to attract strong interest, reflecting high demand for well-presented homes.

If you want to learn more about the Subiaco and Shenton Park property market, contact your Subiaco and Shenton Park Specialist Matilda Patterson on 0400 131 882.

FLOREAT

In Floreat, we’re seeing a lot of young families looking to buy, and we're also seeing a growing trend of buyers looking to knock down existing properties to build new ones. The most in-demand homes right now are family-sized properties in the $2.2 to $2.6 million range. Currently, homes are averaging around 14 days on the market, partly because buyers are now more discerning than in the past as the high-energy buying spree of previous years has slowed down.

Many sellers are postponing their moves because they can’t find suitable downsizing options. Interest rates are definitely having an impact, making buyers more wary, particularly about properties that could require a lot of maintenance or repairs. We expect a slight uptick in listings as we approach spring, though it might not be enough to balance the market. On a positive note, home opens are seeing strong attendance, with about 30 groups attending each new property launch.

If you want to learn more about the Floreat property market, contact your Floreat Specialist Robbie Milligan on 0400 736 925.

CITY BEACH

City Beach is experiencing a major supply challenge, with only 103 out of 2,294 homes sold in the past year, highlighting just how tight things are. Despite this, City Beach stands out with a median sale price of $2.77 million—one of the highest in Perth—though recent sales have varied widely, from $1.7 million to an impressive $11 million.

Family homes, particularly those priced between $2 million and $4 million, are in strong demand and represent about half of the active listings. Downsizers, who make up a significant portion of sellers, are finding it difficult to sell due to challenges in finding suitable new homes and securing financing. Additionally, investor sales account for around 20% of current listings.

As we approach spring and the end of the school holidays in early October, we anticipate more properties will enter the market, which should better highlight the coastal lifestyle that City Beach offers.

If you want to learn more about the City Beach property market, contact your City Beach Specialist Greg Williams on 0435 374 874.

NEDLANDS

The Nedlands property market still has a huge shortage of stock across all price levels. Despite this shortage, buyers are very selective and aren’t rushing to put an offer in on homes after the first home open. Homes that are move-in ready and well-presented are selling quickly and at good prices, whereas older properties requiring a renovation are lingering on the market longer.

We’re also seeing a steady stream of families looking to upgrade from outer suburbs and those from eastern states who are looking to return or relocate to Western Australia. With stock levels having been low for the past 24 months, there’s some hope that we’ll see more homes come onto the market this spring. That said, it's still uncertain whether this will actually happen.

If you want to learn more about the Nedlands property market, contact your Nedlands Specialist Michelle Kerr on 0412 770 743.

CLAREMONT & SWANBOURNE

In Claremont and Swanbourne, we’re seeing a mixed bag of buyers and sellers. Sellers are either looking to upsize or downsize, while buyers are moving into the area or relocating within their current suburb. Younger buyers are particularly drawn to villas and units as entry-level options to get a foot in the door. Family homes, especially those with character, are always in demand, and single-level homes are highly sought after by downsizers, though they’re not always easy to come by.

At the moment, pricing is crucial. If a property isn’t priced right, it tends to linger on the market—3 to 4 weeks is becoming the norm. The recent interest rate rises have impacted affordability for properties under $2 million, though the higher-end market remains relatively stable.

While we’re not seeing a huge surge in interstate enquiries in these suburbs, we do expect more listings as spring approaches, with more appraisals happening now. We’re seeing varied levels of interest at home opens, with properties on quieter streets drawing more attention compared to those on busier roads.

If you want to learn more about the Claremont and Swanbourne property market, contact your Claremont and Swanbourne Specialist Susan James on 0408 003 700.

NORTH FREMANTLE

In North Fremantle, we’re seeing a lot of activity from people looking to downsize or couples in search of larger family homes. Both groups are feeling the pinch due to the tight market—there’s simply not enough homes available, and many are hesitant to sell because they have nowhere to move.

The highest demand right now are character homes priced between $1.5 and $2 million. The main reason people are holding off on buying or selling is the lack of available homes. With stock levels so low, many buyers and sellers are stuck in a holding pattern.

We’re also seeing increased interest from interstate investors, who find Perth’s market relatively affordable compared to other parts of Australia. In the coming months as we head into spring, we expect to see a slight increase in listings, but this is unlikely to be too dramatic. Activity levels at home opens vary depending on the property, but overall, they don’t seem as intense as they were earlier in the year.

If you want to learn more about the North Fremantle property market, contact your North Fremantle Specialist Lucy Thomson on 0452 656 665.

Across the western suburbs, there are some clear patterns in the property market, like the tight supply, challenges with finding downsizing options, and cautious buyers feeling the pinch from interest rates. This creates a competitive market across the board. However, each suburb has its own quirks: some areas are noticeably influenced by interstate interest, while others aren’t seeing much of an impact at all. Plus, what people are looking for in a home can change from one area to another. Understanding these local differences can give you a better picture of the market, whether you’re in the market to buy or sell. Get in touch with one of our Property Consultants if you would like to discuss the property market in your suburb.