Shellabears Blog
Western Suburbs Property Market Snapshot May 2025 Edition
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We now have 4546 properties for sale in the Perth market which is 1,200 more than 12 months ago which is a positive sign in the supply side for buyers. Rentals remain low at a 2.4% vacancy rate and the underlying market pressures on the supply side remain. This will continue for some time as construction costs are still inhibiting new builds across all products. Interestingly only 19% of apartments approved since 2020 have actually commence construction. The federal government housing authority set a target of 20,000 new dwellings per month to reach a total of 1.2 million new dwellings by 2029 and we are already well below that target. For investors and current owners that bodes well for growth and whilst the start of a new downward rate cycle trend will make affordability more achievable, it will also put upward pressure on prices although this does take a little while to flow through to the market.
My list of qualified buyers continues to grow as they are frustrated by the lack of opportunity. If you are thinking of selling and would like to discuss a strategy around your needs and timeline please be in touch.
Renovation Inspiration: Transform Your Kitchen and Cellar
| On a lighter note, if you’re looking for some indulgent rainy-day inspiration for renovation of my two favourite rooms in any home – the kitchen and the all-important cellar. Check these link boxes below to get the creative juices flowing… |
