REAL Estate Institute of WA (REIWA) says the property for sale listings in Perth have exceeded 7000 for the first time in more than three years.

The number of Perth properties advertised for sale was 7335 at the end of August which was 7.8 per cent higher than July and 146.1 per cent higher than at the end of August 2025.

The last time active listings were over 7000 was at the end of March 2023.

According to REIWA, Bassendean was listed among the top performers for the most median house sale price growth in August with a recorded growth of 1.9 per cent or more over the month.

Midland was also named by REIWA as one of the fastest selling suburbs for houses in August.

Midland homes put to market were sold in about 10 days according to REIWA data.

REIWA president Suzanne Brown said the rise in active listings was a result of an easing of demand and the increase in the time taken to sell a property.

“Active listings have more than doubled since March,” she said.

“Such a strong increase over a relatively short period of time may imply there has been a surge in the number of people looking to sell a home.

“In reality, after a shortage of new listings in late 2025 and early 2026, new listings have mostly returned to long-term average levels.

“As we know, the heat has well and truly come out of the market and the increase in active listings represents an easing in demand, which has led to a decline in sales activity.

“This has been created by a number of factors.

“Three interest rate rises have affected borrowing power and mortgage serviceability. Buyers are understandably being prudent with their spending.

“This has flowed through to price outcomes, with nearly half of all properties selling for less than the asking price in July.”

Ms Brown said changes to taxation policy in the federal budget was another factor.

“This has seen a reduction in both investor and first home buyer activity,” she said.

“There is a general feeling that first home buyers are waiting for prices to fall and homes to become more affordable.

“It took five years for Perth’s annual median house sale price to drop 12.8 per cent (or $70,000) during the extended property downturn.

“At the moment, any falls in prices have been eroded by the increase in interest rates earlier this year.”

Houses in Perth sold in a median of 23 days in August, unchanged from July but 12 days slower than a year ago.