The Perth Property Show

Host Trent Fleiskens interviews WA developer Adam Zorzi (Australian Development Capital) about current Perth projects and market constraints. Zorzi details the Price Street Subiaco project (31 apartments plus townhouses) enabled by excising a vacant strata lot from Pindan’s earlier stage, and discusses pricing driven by replacement cost (about $16–18k/sqm; a remaining 2x2 about $1.4m) and a shared “guest house” amenity to reduce buyers’ need for extra bedrooms. He recounts Moss Lane, Mosman Park (bought 2018; completion late Aug/Sept next year), redeveloping an underserviced shopping centre into 2,200 sqm retail with new F&B and higher-priced apartments. Zorzi says most apartment/townhouse projects don’t work due to high labor/material costs, scarce builders, and government work crowding out private development; he has pivoted to a Claremont specialist medical centre. He updates Perth Girls’ School: planning changes, exhumation of unrecorded cemetery remains, a new PBSA approval (1,100 beds) and potential social/affordable housing on northern land, with modular/offshore procurement as key to feasibility. Both discuss ongoing housing undersupply, sentiment-driven price forecasts, and the need for policy and cost solutions.

Host Trent Fleskens speaks with buyer’s agent Rohan Powell (Verve) about a two-paced Perth market where rising listings and low transactions reflect mismatched asking prices and an influx of compromised “C/D-grade” stock, while scarce, finished, well-located homes still attract strong competition. They discuss how high renovation and build costs are pushing buyers to pay for completed products, the growing use of auctions and off-market campaigns to manufacture urgency, and why better agents are working harder to generate demand. Powell says current buyers are largely local upgraders advised to allocate more into their principal residence, often negotiating 10–15% below asking, while trophy assets and large landholdings continue to transact strongly. They cover downsizer demand for low-strata, land-based luxury builds, limited new supply, and the view that prices remain structurally supported by undersupply despite sentiment-driven softness in compromised properties.

Host Trent Fleskens interviews Michael McGowan about Western Australia’s brick shortage, its causes, industry impacts, and solutions. McGowan explains WA went from three brick manufacturers to effectively one after ACCC-approved consolidation and Austral mothballed its Cardup plant, leaving Midland/BGC operating only five kilns (down from 11) at capacity. With 85% of homes using bricks (70% double brick, 15% veneer) and commencements around 26,000, Midland introduced an allocation system based on 12‑month purchase history, typically delivering about 50–70% of prior volumes, hitting small builders hardest and delaying projects and progress payments. Proposed responses include pivoting to timber/steel or brick veneer via concurrent permitting and engineering sign-off, assessing labor/material capacity and financing impacts. Government funding aims to restart Cardup by March/April, with imports/interstate supply also explored; the disruption may last about 12 months and accelerate a longer-term shift toward more framed construction. Consumers are urged to be patient, communicate with builders, and consider alternative construction methods

Host Trent Fleskens opens the Perth Property Show noting spring brings more listings while weekly sales remain in the mid–low 600s, about 25% below pre-budget levels, pushing stock on market to around 8,000 despite Perth still being under a balanced market. Guest agent Rash Dhanjal says investor activity has fallen sharply, with fewer investment loans and investors now mainly chasing yield or retain-and-build opportunities. They discuss days on market stretching from around 8 earlier in the year to roughly 28–35 days, with well-presented, well-priced homes still selling quickly and overpriced or flawed properties lingering. Affordability constraints from rate rises, budget impacts, and negative gearing changes are dampening sentiment, with expectations of mostly sideways growth. Rash outlines strategies including sharper pricing, staging, after-hours buyer work, and selective off-market or “buzz” campaigns, sharing an Ellenbrook example that generated 24 offers and a much higher price in 24 hours.

Host Trent Fleskens welcomes Chris Jones from Davey Real Estate to discuss Perth’s September market and a detailed update on Duncraig, a blue-chip, largely owner-occupied suburb that historically shows strong downside protection. They compare 2018’s $690,000 median with today’s roughly $1.5 million, noting recent years’ rapid growth and how sentiment shifted after the budget announcement: home open numbers fell (30–50 down to ~15), offers briefly dropped to zero, and days on market stretched from about six days to weeks, though multiple-offer scenarios have begun returning in recent weeks. They discuss increased buyer selectiveness, opportunistic low offers, more subject-to-sale contracts, and the importance of experienced local agents in a slowing market. Zoning, demand for downsizing duplex lots, school-catchment dynamics, and new amenities (including Glengarry Shops’ redevelopment) are highlighted, with a view that supply may tighten again after New Year due to ongoing demand.

On the Perth Property Show, host Trent Fleskens previews an RBA meeting he fears will bring another rate rise and outlines a softer, choppier Perth market: weekly sales have fallen to about 650 from 800–900 in prior years, new listings sit near 800 a week, and stock on market is rising into the low-to-mid 7,000s. Guest Cam Smart (Ray White Cannington) says buyer inquiry and home open attendance are down more than 50% since budget day, with good homes still attracting competition while overpriced listings are being quickly “found out.” They discuss auctions as a transparency tool, with Cam citing his own results that most passed-in auctions later receive offers, and that auctions can improve unconditional sale rates by day 30–90. The conversation covers shifting buyer criteria, a rise in local investor activity, tenant and access issues affecting presentation, and rental pressure from regulation and affordability, with both stressing realistic pricing and honest agent advice.

On the Perth Property Show, host Trent Fleskens speaks with Norm Roberts, Managing Director and Executive Chairman of Offsite, about WA’s shift toward panellised, timber-framed construction. Norm explains Offsite’s origins (founded 2009, pivoted in 2019, purchased by his group in 2024) and its scale-up from 25 staff in a 3,000sqm site to 160+ staff in an 11,000sqm factory, now producing flat-packed wall, roof, floor and stair panels (not modular) that can reach lock-up quickly, with windows and doors installed in-factory. They discuss logistics advantages, energy performance (around 7.5+ NatHERS), carbon storage potential, builder resistance to factory-installed plumbing/electrical, developer demand for higher-yield townhouse projects, current capacity targets, timber sourcing from WA plantations, fire/bushfire ratings up to BAL 40, and expansion plans including a larger second facility plus applications beyond housing such as aged care, lifestyle villages, classrooms and other repeatable buildings.

Host Trent Fleskens is joined by Brendon Ptolomey (Herron Todd White) for a quarterly WA regional property update, noting several markets are starting to mirror Perth with higher listings, easing FOMO and modest corrections. Bunbury (and Mandurah) is showing early contract evidence of about 5% off peaks, with concern that demand is more investor-driven and may weaken if investors exit. Busselton/Dunsborough is resetting to “stable” values, around 5–10% off optimistic peak expectations, while still undersupplied. Albany remains tight and rising, with examples of lots reselling from mid-$400s to low-$500s due to strong demand and limited supply. Kalgoorlie is “counter-cyclical,” driven by yield-chasing investors targeting 8–12% gross returns. Geraldton is stabilising, Karratha is cooling as investor heat fades, and Broome remains active on rentals but vulnerable longer term due to planned land supply, with discussion of incentives for new regional builds.

Host Trent Fleskens welcomes Shane Beaumont to the Perth Property Show to unpack a post-budget quarter where Perth’s market has cooled despite weekly sales volumes holding up, with offer counts dropping sharply and buyers taking more time. Beaumont says conditions now feel more “balanced,” with many listings mispriced for current sentiment, and stresses that price is an invitation to act; sellers should benchmark against current competing listings, not earlier sales with different circumstances, and seek leading agents who understand the story behind results and pending subject sales. The pair discuss normalisation in days on market, a shift toward certainty in contract terms, and how fatigue is delaying demand rather than removing it, while a resilient rental market and migration continue to underpin Perth. They also outline buyer opportunities in value-add properties, under-leased rentals, and retain-and-build strategies.

Host Trent Fleskens and Brendon Ptolomey (Managing Director, Herron Todd White) deliver a quarterly Perth market update, describing a sharp shift from early-2026 FOMO to “fear of participation,” with rising listings and fewer buyers creating a market “reset” rather than a crash. They stress suburb-level nuance: some areas are sliding faster while others hold or grow, with Baldivis used as an example of listings rising from ~20–30 late last year to ~150–160 now, driving price differentiation between top-quality homes and poorer stock. They discuss investors taking profits, likely rent strength from reduced rental supply, and how federal tax changes have reduced investor borrowing capacity and dampened demand, while potentially pushing more money into principal residences and blue-chip suburbs. They note weaker national conditions (especially Melbourne/Sydney), potential vulnerabilities in investor-heavy Perth corridors, soft off-the-plan/new-build demand, and recommend CGT-date valuations ahead of 1 July 2027.

Host Trent Fleskens speaks with Vanessa Rader, Ray White’s commercial/industrial expert, talk about major shifts across Australian commercial property. They note childcare has “fallen off a cliff” nationally due to oversupply, staffing shortages, negative press, weak occupancy and fee growth, and limited buyer urgency, with over 30 closures in WA and yields rising as investors move to alternatives. Fast-food assets continue trading at very tight sub 4% yields, while service stations face questions amid rising EV sales, though profit is framed as coming from food and beverage and charging-related dwell time. Perth office is a relative bright spot, with 15.4% vacancy and nearly 30,000 sqm of take-up, constrained new supply, and potential rent growth from a low base versus Sydney. Industrial growth has stabilised but remains supported by demand, land constraints, and investor value, with SA attracting capital after removing stamp duty. They finish on medical’s renewed appeal (sticky tenants, diversified “one-stop” hubs) and the emerging need and planning challenge for aged care.

Host Trent Fleskens opens with a Perth market update, noting slowing conditions as listings rise, strong competition for quality homes, weaker demand for inferior properties, transactions in the 600s, and uncertainty ahead of an interest-rate decision. He then interviews Aaron Sice from HIA about proposed R-Codes reforms aimed at unlocking subdivision potential in R20-and-under areas, with likely impacts across suburbs such as Joondalup/Ocean Reef and Booragoon–Melville–Willetton–Lynwood, while minimum lot sizes remain. They discuss how ancillary dwellings and subdivision could increase dwelling yields, cautioning not all blocks are suitable and noting constraints like sewer and protected-tree policies. Aaron outlines streamlining changes including splitting the codes by housing type, expanding DA exemptions up to four dwellings/apartments, and simplifying rules (setbacks, privacy, site cover removal), plus proposals like three-storey R40, greater cut/fill allowances, and removing minimum parking requirements.

Host Trent Fleskens welcomes Mike McGowan from the HIA back to the Perth Property Show to rebalance the conversation from demand to the supply side of WA housing. Trent notes established listings are in the mid-6,000s with stock rising weekly, while Mike says new-build inquiry has fallen about 25% since March amid interest rate rises, budgets, and policy uncertainty, though sales remain consistent and most builders hold 8–12 months of work, constrained by titled land delays. They discuss build times (around 10–11 months currently, with a 5–6 month target), a persistent 40,000-home deficit, and expectations that WA will only deliver roughly 20–24,000 homes per year this decade without more land, higher-density feasibility, and skilled trades. They cover material price rises, affordability caps, the state’s Housing Innovation Fund supporting alternative methods like framing and modular, and promote HIA’s September 4 Economic Outlook Luncheon at the Westin featuring chief economist Tim Reardon and a builder panel.

Host Trent Fleskens welcomes Jay Das from Noble Avenue back to the Perth Property Show to review Iluka and Currambine, noting Perth stock on market is in the mid-to-high 6,000s and rising about 150 listings per week due to fewer buyers and lower transaction volumes, pushing conditions toward a more balanced market. Jay says Iluka’s median has lifted from about $1.23m to the $1.7m range, while Currambine’s entry-level stock has moved from around $800k to the mid-$900s/near $1m, after briefly reaching $1.3m–$1.4m. Home open numbers and offers have fallen sharply, competition is thinner, and sales are taking 4–6 weeks. The discussion covers price retraction from earlier peaks, more subject-to-sale offers, reduced investor activity, the importance of pricing and staging, and Jay’s preferred streets: St James Approach (Iluka) and Lagrange Loop or Formby Lane (Currambine).

Host Trent Fleskens interviews WA Minister for Planning and Housing John Carey about housing supply and planning reform, focusing on R-Code changes that scrap average lot size at R20 to enable subdivisions and potentially open up 50,000 new lots over time as “gentle density.” Carey argues WA needs the full housing continuum—greenfield, infill, and medium/high density—alongside station precinct upzoning, transport-corridor increases, and simplification of the now-expanded R-Codes to reduce variations and speed approvals. They address criticism about tree canopy and future redevelopment, with Carey supporting pragmatic local planning policies and stronger justification for low-density areas while aspiring to make R30 the standard. The discussion also covers approval delays, parking minimum flexibility, infrastructure bottlenecks at Water Corp and Western Power, progress and challenges in the Housing Diversity Pipeline, and targets for delivering social and affordable housing through build-to-rent and community housing provider.

Host Trent Fleskens speaks with Byford agent Sean Dunn about why Byford is a “canary in the coal mine” as Perth’s market shifts from aggressive growth to a more defensive phase. They discuss Byford’s new train station and expanding amenities (Coles, Woolworths, Aldi, cafes) alongside its mix of older large rural-residential blocks and newer estates. Against rising Perth listings, fewer transactions, and longer days on market, Dunn describes a sharp slowdown in Byford: home opens falling from 10–15 groups to 1–3, fewer multiple offers, and harder negotiations as sellers cling to last year’s expectations. He cites a recent 4x2 dropping from $860k to high-$700k offers, driven by reduced investor urgency after the budget and interest-rate sensitivity among high-LVR buyers. Dunn expects Byford’s median to move from about $850k to around $800k over 12 months.

Host Trent Fleskens answers listener questions on why Perth listings have risen above 6,000 and days on market have lifted to 18, arguing it reflects sentiment and interest-rate-driven serviceability constraints rather than a market top, with fundamentals still supported by undersupply as WA builds roughly 20–25k homes a year while population growth remains higher. He clarifies negative gearing grandfathering cut-off was budget night (12 May 2026), discusses likely investor pivot toward new builds and fringe house-and-land while preferring new infill product within 20km, and explains unit outperformance (27% annual growth) as driven by affordability and the 5% deposit scheme. He says Perth has decoupled from Sydney/Melbourne due to WA’s stronger economy, highlights R-code changes expanding R20 subdivision opportunities across many suburbs, criticises stamp duty bracket creep for first home buyers, and advises investors not to sell purely due to tax changes.

Host Trent Fleskens welcomes Tom Miszczak from The Agency back to the Perth Property Show for a suburb spotlight on Queens Park, Cannington and East Cannington. Tom says the past eight weeks have brought a market adjustment, with investor demand tailing off due to uncertainty from budget announcements, while owner-occupier and first-home buyer interest remains strong and prices have largely held if homes are well presented. He argues the slowdown is healthy after Queens Park’s median rose from $615,000 in Sept 2024 to about $850,000, and expects sideways to slightly softer conditions over the next 12 months. They discuss developer confidence, the rail line upgrade’s new amenities and safety, the first-home buyer 5% threshold’s impact on pricing, planning changes enabling townhouses near the station, and how buyers are shifting from investments to upgrading principal residences.

Host Trent Fleskens welcomes Derek Baston of Baston & Co to discuss Victoria Park, East Victoria Park and nearby St James/Bentley, focusing on Albany Highway’s lifestyle appeal and how the market has evolved since COVID. Derek explains key drivers by area, including Vic Park Primary School, Raphael Park, dog-friendly Harold Rossiter Park, and the growing food and brewery scene, plus major activation projects like Bailey Hill and the Boston Brewing precinct. They cover gentrification, the shift from state housing weatherboard cottages to prized character homes (influenced by a streetscape policy), and changing buyer profiles including downsizers from South Perth/Como and intergenerational support. Current medians are about $1.165m in Vic Park and $1.2m in East Vic Park, with East Vic Park’s larger blocks lifting its median, while development has slowed due to feasibility. Derek expects the median to track sideways as the market differentiates more between premium and inferior stock.

Host Trent Fleskens welcomes Brendon Habak from Inhabit for an apartment-focused suburb spotlight on East Perth, discussing buyer sentiment amid negative gearing and tax noise. Brendon sells East Perth on its riverfront amenity and improving infrastructure (WACA pool/slides, growing cafe culture) but notes the suburb lacks a true town centre and community spark, suggesting Wellington Street and the Perth Girls School redevelopment as the best chance to create a walkable retail hub. They outline the typical East Perth two-bed, two-bath apartment rising from about $480k pre-COVID to nearer $700k, with rents around $800/week, but describe a slowdown from last year’s multiple-offer market to fewer home-open attendees, driven by higher interest rates, affordability and rising strata fees. Brendon contrasts softer East Perth conditions with stronger demand and price outcomes in Wembley/Jolimont and discusses premium Perth CBD and Burswood Point offerings.