If you’ve been searching for a home in Perth over the past 12–24 months, you’ll know one thing for sure - competition is fierce. Listings are at historic lows, private inspections are booking out, and the property you inspected yesterday might already have multiple offers.

But just because the market is tight, doesn’t mean buyers need to miss out.

To help buyers navigate one of the hottest and fastest-moving markets we’ve seen in decades, That Backyard Property Podcast host Michael Killiner sat down with Karen Riches- an award-winning agent, #1 in the northern suburbs for over 13 years running, and the recipient of the 2024 REIWA Master Salesperson Award.

Karen has sold hundreds of homes across Perth’s coastal corridor and has worked through every type of market cycle. Her insights are practical, current and based on what she sees happening on the ground, not headlines.

Why the Perth Property Market is Moving So Quickly Right Now

According to Karen, the surge in buyer activity is being driven by several key forces:

1. Listing levels remain low

There are more buyers than available homes, particularly in lifestyle-led coastal suburbs.

2. Perth has seen over 40% growth in the past few years

Buyers who waited too long are now trying to catch the market.

3. Population growth is surging

More people are moving to Perth from interstate and overseas, increasing competition.

“Some buyers have been looking for years. And what they could have bought two years ago is now out of reach. It’s a tough market, but not an impossible one.”

It’s the perfect snapshot of current buyer psychology in Perth: cautious, emotional and under pressure to make fast decisions.

Karen’s Top Three Tips for Buyers in a Competitive Market

Karen has helped countless buyers secure their dream home, and many of them felt overwhelmed or unsure when they started the journey. Her biggest advice:

1. Move quickly when you find a property you love

Some buyers are still shopping at the pace of the market from years ago. That time has passed.

“Just letting the agent know you’re seriously interested can be the difference between missing out and getting a call back.”

2. Communicate early

Each agent has a different negotiation or offer process.

“Waiting too long can work against you. Making your interest known early is a huge advantage.”

3. Be prepared

Finance, conditions, deposit structure and settlement preference all matter, sometimes more than the price itself.

Even small improvements in your offer strategy can make a big difference.

The Mistake Karen Sees Buyers Make Every Week

Karen says the biggest buyer mistake isn’t offering too low, it’s hesitation.

“The biggest mistake is thinking you’ll have a few weeks to decide. Properties are selling within days.”

Speed + preparation = confidence.

And confidence is what wins in this market.

There’s Another Side Most Buyers Forget: Sellers Are Struggling Too

While sellers are achieving excellent prices, many are also navigating the same challenge:

Where do we move next?

That dual-pressure market is where experience and guidance matter most. Buyers and sellers both want clarity—and that’s where the right agent makes the difference.

Why Karen’s Approach is Different

Karen is known for:

• Open communication with buyers and sellers

• Transparency throughout the sales process

• Consistent market-leading results

• A process-driven approach (even when listings are down)

• Working with repeat and referred clients

• A genuine local focus - not just transactions

“Real estate isn’t a one-off handshake. It’s long-term work, relationships, process and professionalism.”

This is exactly why Karen remains one of Perth’s most trusted agents.

The Outlook for the Next 6 to 12 Months

Karen remains positive about Perth’s property landscape.

Despite low stock, rising prices and strong demand, the underlying fundamentals continue to drive momentum:

• Perth remains more affordable than the East Coast

• Migration and population growth are surging

• Demand for coastal lifestyle remains strong

• Investors and owner-occupiers are competing for similar properties

“There’s no sign of slowdown in the short term. Buyers just need to be ready.”

Buying in This Market Isn’t About Luck. It’s About Strategy.

Whether you’re upsizing, downsizing or buying your first home, the right knowledge makes all the difference. And it’s why conversations like this matter.

Perth’s market isn’t slowing down. But with the right preparation and support, you can put yourself in the strongest position possible.

It has never been more important to stay informed, stay alert and stay ready.

Want More Property Insights?

For more expert conversations on the Perth market, tune into That Backyard Property podcast. Host Michael Killiner speaks with industry professionals to unpack:

• Buying strategy

• Market movement

• Negotiation

• Mistakes to avoid

• Suburb trends

• Insider advice for Perth property buyers

New episodes launch every Tuesday and are perfect for anyone thinking about buying, selling or simply wanting to stay ahead of the market.

Thinking About Buying or Selling in Perth’s Northern Coastal Suburbs?

Whether you’re searching for your next home or preparing to list, Noble Avenue Real Estate is here to help you move with confidence.

Speak with Karen Riches directly for:

• Personalised market guidance

• Local buyer and seller insights

• Suburb comparisons

• Property appraisals

• Off-market opportunities

We are a local agency committed to serving our local community—one home at a time.

Book a consultation with Karen Riches

Get the clarity, confidence and strategy you need to make the right move in today’s market.

And for weekly market updates, suburb insights and new listings, follow Noble Avenue Real Estate on social media.

The Perth property market is always moving. Together, let’s help you move in the right direction.