Tiny detail on ‘for sale’ sign exposes frustrating trend in Perth’s housing market

A vandal has exposed the growing distaste for out-of-state investors in a state by slapping a sticker on a “for sale” sign saying only local buyers could sign up.

The unidentified Perth resident pasted two posters on the estate agent board hung outside a house in Mount Lawley.

“No house collectors…Western Australian buyers only,” it said.

“To those seeking legitimate personal housing from outside Western Australia, we apologise, but we cannot be complicit in exacerbating our own housing crisis.”

The property’s selling agent said neither he nor the homeowner had approved the stickers.

Other realtors report negative sentiments about the stereotypical “East Coast” buyers as the number of investors in the state grows.

Real estate investors had previously said that the city’s housing market was full of bargain opportunities and profit opportunities.

The subsequent influx of out-of-state buyers has seen Perth house prices rise 22.5 per cent over the past year, the largest increase in the country, according to PropTrack.

In April, the average house price in Perth was $735,276. That’s significantly lower than Sydney’s $1,414,229 and Brisbane’s $909,988.

Higher prices and competition have left some Perth residents unable to keep up. Some blame out-of-state buyers using the housing market as a cash cow.

Local anger has also led to real estate agents taking to social media to speak out about the Perth market.

The Agency’s Vanessa Naso received a lot of criticism from locals after she posted a message on TikTok about a house buyer in Rockingham, south of Perth, on the east coast.

‘Oh yeah, another out of state buying a house in the struggling Perth market. How on earth are we supposed to buy a house,’ read one comment.

Mrs. Naso said The Western Australian that she and many other real estate agents are feeling the stress of growing anger towards real estate investors.

She then called for compassion for investors who have likely been priced out of their own states and are now looking to get a foot in the door of the housing market.

However, local real estate agents report that homeowners are taking action themselves and refusing to sell their homes to out-of-state buyers.

An agent said a client recently rejected an offer from a Sydney agent even though they offered $30,000 more than their competitor.

Peter Menaglio of Edison Property said one homeowner lost $8,500 on the sale because he rejected an offer from a Queensland resident in favour of a local resident.

“He said it’s tough for kids right now and he’d rather sell to a local investor than an East Coast investor,” he said.

Locals are furious after investors snapped up promising bargains from them, sending the housing market up 22.5 per cent in the past year (pictured, Perth)

Social media has recently become a hotbed for angry Perth residents pleading with Australians not to move to the city, while rent prices have also skyrocketed.

One said his rent has increased by $260 a week in just a year and a half and blames real estate investors for the total $610 he now pays each week.

“I make good money, but house prices and daily expenses mean I can’t save enough to buy a house,” he wrote on Reddit.

“I know friends who have made offers, but investors keep offering $50,000-60,000 more.”

The post caught the attention of others who responded to it, many claiming it has to do with a number of issues, such as housing supply and immigration.

“Immigration is definitely a problem, but the main cause of all this is the housing shortage,” one user wrote.

‘Perth – and virtually all of Australia – doesn’t have enough skilled workers to build enough houses at a reasonable rate.’

“We have enough supply for owner-occupiers, but not enough for both them and the investors,” wrote a second.