Shellabears Blog

The story this winter: demand is high, but stock remains tight

We’re well into winter, but the Perth property market clearly didn’t get the memo. Despite the chilly mornings and the usual seasonal slowdown we’d expect in July, the market’s showing no signs of hibernation.

Let’s start with the big one: interest rates. There was plenty of chatter leading into this month that the RBA might move on a rate cut. Inflation’s been coming down, consumer spending has softened, and unemployment has edged up. All signs that would usually justify some loosening. But the RBA held firm. No cut (yet), and a cautious tone that suggests they’re waiting to see a bit more before making a move, albeit confirming they’re trending down…

For buyers and sellers, the impact has been pretty minimal. Confidence in Perth remains high, and that’s largely because the fundamentals of our market are still incredibly strong. Driven by population growth, limited housing supply, and relatively affordable prices compared to the eastern states.

The story this winter: demand is high, but stock remains tight
Even in the depths of July, we’re seeing well-presented homes attract strong interest, multiple offers, and shorter days on market. According to REIWA, total listings remain near historic lows, well below the long-term average, and sales volumes are holding up, with around 800 homes changing hands each week across Perth. It’s a strong result for what’s normally one of the quieter times of year.

To give that some local context, take Cottesloe as an example:
Over the five years from 2015 to 2019, an average of 104 houses sold each year. In the five years that followed, 2020 to 2024, the average was 103 houses per year. This year, however, we’ve only seen 37 sales so far, including those under offer. Unless things pick up sharply, we’re looking at one of the lowest annual totals in over a decade, and that’s not due to a lack of buyers, but simply a lack of homes to buy.

What this means for you
For sellers, this creates a real opportunity. With fewer properties on the market and plenty of motivated buyers still looking, winter can be a smart time to act – well before the spring rush when competition ramps up.

For buyers, it means being prepared. The best homes are still moving quickly, and those who are finance-ready and decisive are the ones getting ahead.

If you’d like a snapshot of what your home might be worth, or a conversation about timing your move, I’d love to help. Whether you’re buying, selling, or just keeping your finger on the pulse, it’s all about making your Best Property Decision.