Perth CBD Vendors Cutting Prices as Days on Market Stretch Into Winter

Listings in the Perth CBD are taking longer to sell. The average days on market for residential and mixed-use strata properties in the city centre crept above 47 days in June 2026, up from roughly 31 days recorded in the same month last year, a shift that is putting meaningful pressure on vendors who listed at peak-cycle prices earlier in the year.

The shift matters because it marks a concrete turning point in a market that spent most of 2023 and 2024 running on low stock and fast clearances. Buyers who were routinely locked out by competition now have time to negotiate. Real estate agencies operating along the Terrace corridor, including offices on St Georges Terrace between William Street and Barrack Street, are reporting a measurable uptick in price reductions after the first 30 days of a campaign, a pattern that was virtually absent eighteen months ago.

Discounting Returns to the CBD Core

The vendor discounting rate, the gap between the original listed price and the final sale price, has widened to an estimated 3.2 percent on average across the CBD precinct for the June quarter, according to figures circulating among local property analysts. For a one-bedroom apartment originally listed at $650,000 near the Elizabeth Quay precinct, that discount translates to roughly $20,800 off asking price before contracts exchange. Comparable units at mixed-use towers in Northbridge, just north of the railway line, are seeing similar adjustments after sitting for five to six weeks without offers.

The east end of the CBD, particularly the stretch running from the Hay Street mall towards Victoria Square, is showing the most activity in terms of stale listings. Several apartments in tower blocks near the Perth Cultural Centre light rail stop have had their asking prices revised at least once since going to market in April or May. Meanwhile, the western precinct, closer to the Elizabeth Quay ferry terminal and the new hotel and retail developments along the foreshore, is holding firmer, with days on market staying below the CBD average in that pocket.

The Real Estate Institute of Western Australia tracks median days on market and vendor discounting data quarterly, and its next full report is due in late July. Agents operating under the REIWA network who work the CBD beat have noted publicly that winter seasonality is compounding the slowdown, as it traditionally does, but that this year the effect is sharper than recent winters because the pool of cash-ready buyers has thinned following successive interest rate decisions in late 2025 and early 2026.

What Sellers Should Do Before Spring

For vendors still holding out, the arithmetic is becoming uncomfortable. A property that sits at 47 days and eventually sells at a 3.2 percent discount has already cost the seller more in carrying costs, marketing fees, and lost opportunity than a modest price adjustment at the 21-day mark would have. Strata properties in buildings managed through groups like Colliers International's Perth CBD division or CBRE's West Perth office are being appraised conservatively going into the second half of 2026, with agents advising clients to price to the current buyer pool rather than the peak-cycle comparable sales from 2024.

The practical advice circulating across CBD agencies is consistent: properties priced within 2 percent of recent comparable sales in the same building or street are still moving within three to four weeks. Those stretching valuations by 6 percent or more, particularly in older 1990s-era strata blocks on Adelaide Terrace, are the listings building up the days-on-market averages and dragging the precinct-wide median higher.

Spring traditionally brings fresh stock and renewed buyer energy to the CBD market, with listings historically picking up from September onward. Vendors who reprice realistically before the August 31 long weekend window are likely to face less competition from new entrants than those who wait and find themselves competing against a fresh wave of better-priced stock in October. The window for a clean winter sale, without a discount, is narrowing with each week that passes.

This article is general information only and is not personal financial or investment advice. Consider your own circumstances and seek licensed professional advice before making financial decisions.