If you have spent time at home opens across Greater Fremantle this month, you have likely noticed a clear shift in crowd dynamics.

The dense lines of buyers that defined the last twelve months (aspecially in the early $1M bracket) have thinned. While casual market observers often interpret smaller home open crowds as a sign of a cooling market, the reality on the ground from Hamilton Hill to Attadale suggests a more nuanced story.The volume of public traffic at advertised inspections has decreased (almost perfectly inverse to the steady increase of stock over recent weeks) but the intent of the remaining buyers is considerably more heightened.
On the ground, we are witnessing a distinct wave of established local homeowners positioning themselves to execute their next property upgrade well into the $2M mark.

One component that is driving this is the recent federal budget - which heavily restricted tax incentives for established investment properties while leaving the Principal Place of Residence (PPOR) untouched - capital looks to be consolidating.

Local families appear to be choosing to redirect funds away from secondary investments and into upgrading their primary home, seeking the long-term, tax-exempt growth that the family home uniquely provides.

"Upgraders" replace "First-timers"
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An emerging trend is the depth of cash-ready buyers in the revitalised $2+ price-point. The next question is how are these buyers continuing to transact so confidently despite the threat of higher interest rates. New capital is starting to land - It often turns out that many of the emerging "Upgraders" had acquired investment properties pre-2020 and have done particularly well for themselves over the last 5 years.

For example -
In mid-2025 - any assets sitting around a ~$750,000 price  (and possibly purchased for half of that amount pre-2020) suddenly saw a highly active group of new first-time buyers enter this pricing bracket. This was triggered by the expansion of the federal 5% Deposit Scheme - which raised the eligible property cap for Perth to $850,000 - and effectively supercharged a $750K property to $850K almost overnight.

Crucially, "Upgraders" considering a move did not need to sell those investments (although some did) to capture this uplift. By simply getting a property re-valued in the context of this government initiative, they unlocked - and are now utilising - a fresh wave of equity. Importantly, because they are injecting new capital into their upgrade purchases (rather than relying entirely on bank serviceability) their borrowing power is proving resilient against any upcoming interest rate pressures.
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Managing Risk by Moving the Sale "Off Market"

This demographic shift has altered the nature of available stock in Fremantle as these upgrading families are simultaneously buyers and sellers.

They currently own the exact asset the market needs: neat character cottages, renovated semi-detached homes, and established family-sized blocks of land.

However, during this immediately complex and noisy macroeconomic period, executing a public sale/marketing campaign is proving risky.

For a seller, launching a property on real estate portals during any given week of an unexpected new budget/housing/inflation/war crisis might result in far
lower-than-expected turnouts at scheduled home opens.

In the public eye, a quiet weekend open is often misconstrued as a lack of property merit, instantly shifting the leverage to predatory low-ballers.

To avoid this exposure, upgraders - and their agents - are now actively seeking quiet, structured transitions via a smaller, pre-qualified pool of reliable buyers. This allows them to secure their home upgrade and exit their current home cleanly, thereby bypassing the unpredictability of a public campaign altogether.

Winning tips in a competitive property market

When the right property does come along, acting quickly is essential. Buyers who hesitate may miss out, as properties are being snapped up at record speed. In a fast-moving market, buyers should also be prepared to meet or even exceed market prices for homes that offer long-term value. Given the potential for ongoing returns, offering above the asking price can be a sound strategy if buyers are confident in the property’s future worth.

Building relationships with agents who specialise in Greater Fremantle and its surroundings can be a huge advantage. In such a competitive market, these connections can give buyers early access to pre-market listings or discreet sales opportunities. Buyers who establish strong relationships with local agents are better positioned to act confidently when the right property presents itself.

Navigating the "Hidden" Market

More of the genuine transaction volume in Greater Fremantle - particularly in these last few weeks - is occurring away from the main real estate portals.We are currently evaluating an orderly stream of high-quality, local properties that are moving entirely off-market. These homes are quietly reviewed and introduced to our clients, who can offer sellers a flexible, clean, and certain transactional timeline.

The paradox of the May market is pronounced: while the visible crowds at advertised properties appear to be shrinking, the most desirable buying opportunities are happening via off-market access. The best properties are now trading with only a handful of people ever knowing they were available.

For active buyers, relying solely on public listing alerts means observing only a fraction of the actual market activity.

Navigating this new environment successfully - now, more than ever -requires access to these opportunities before they ever reach the broader public.

At Verve, this is the core of what we do.

Zac Russell

Greater Fremantle Area Specialist

Contact Zac below:
Email: zac@vervebuyersagency.com
Phone: 0481 268 604

About Zac