The number of properties on the market has steadily increased over the last year and has now reached 16,000 - the highest level since December 2008," he said.
Mr Bourke described "notable increases" in listings in certain areas with a 26 per cent rise in Melville, 21 per cent in Stirling East, 19 per cent in Swan and a 17 per cent jump in both north-east Wanneroo and in Bayswater-Bassendean.Good sign, in a way, that sellers realize they have to discount fast and furious to bank the profit they have.
Perth is a unique case, so not sure how generalizable these numbers are, or whether it's the start of a broader trend. They are a large city sitting in total isolation. I doubt this will set off selling discounts elsewhere in Australia. Too easy for dwellers in Sydney/Melbourne/etc to say, it's different here from there. And that would be correct.